Looking for Startup Ideas?

Written by chicceo Published in

A lot of entrepreneurs find their startup idea through accident or necessity. A bit of inspiration comes their way and intuition takes it from there. But what if you don't have a bit of inspiration? What if necessity doesn't show up? 
 
Here are 4 things that will push this process along:
 
1. Solve a problem, instead of following a passion. 
Cold hard truth, sister: customers don't care about your passion, they care about their problem - they don't want to pay for your passion, they want to pay to take care of their problem. 
 
You will hear over and over to follow your passion and while I don't think that's a bad thing, you are in business to serve others, provide value and make money (hopefully). If you can solve a problem with something you are passionate about, you've really hit the jackpot. Passion for your work is definitely a key ingredient to success, but it's not the only ingredient. 
 
Be passionate about your customers problem.
 
2. Live in the future, then find what's missing. 
Try and put yourself 5 years into the future and then look back. Can you see anything that is missing? If you've identified a problem, what would you think people would use to solve it 5 years from now? Think from the end and you just might stumble on something brilliant. 
 
3. Search for the outliers. 
When designing your product or service - don't try and think of what the masses would like. FInd a very special niche of people, the outliers, and design something around them. Moen did an amazing job at this recently - they built a faucet that comes on when touched. Someone with arthritis or a physical disability can easily turn the faucet on and off. However, it works amazing for gardeners with dirty hands, little kids who have played in their food, etc. They found the outliers, built for them and is delightful for everyone else.
 
4. Find a failing industry. 
We've seen big industries slowly sink as small companies come in the side door and take over. Online newspapers are taking over print, digital music files overthrew CDs, and fax machines are hardly used since we started scanning. Take a look at some of the bigger industries that seem to have a stronghold on the market. Where is the side door? How can you do it better?

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