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Ask HN: We have a great team and capital but can't find a good idea

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Re: Ask HN: We have a great team and capital but can't find a good idea

#303
It sounds like the three domains you guys have experience in are software, biz Dev, and private equity.

I would stay the fuck away from software because it's an incredibly crowded field, that is notoriously cheap.

But private equity and biz Dev are great domains to be in. People will easily write big checks to solve small problems in those domains.

Have those two guys on your team talk to everyone they know in their respective spaces about what problems they have that they'd be willing to spend money on.

Basically your goal is to find out what problem keeps VPs in those respective domains up at night. And then brainstorm some way to make them worry a little less. Then shop it out to those same guys to see if anyone is willing to buy or help fund the app. Do this over and over again until you find an idea that works.

Re: Ask HN: We have a great team and capital but can't find a good idea

#306
I have an Agtech startup I've been working on for the past year, but am stepping away from it for personal reasons. It's R&D heavy, so I haven't got customers yet, but I believe there is real opportunity (said every customer-less startup founder ever). It's in an emerging market (agriculture) with booming investment dollars available. Right now the product is largely IoT, but there is scope for a lot of machine learning and blockchain in the near future which would keep your PhD interested.

I've put a lot of hard work into this and would love to see it in somebody else's capable hands rather than going to waste - would you like to talk it over more? Drop me an email at sajrobb at gmail dot com.

Re: Ask HN: We have a great team and capital but can't find a good idea

#307

Earlier quoted context omitted.

Being afraid of a crowded market is one of those counter-intuitive mistakes most people make. It's much easier to find a niche within a crowded market than to try to build something within a small market. I entered a huge market as a solo founder with no industry experience and now get about 1% of the traffic that the big players with thousands of employees get, and I make a very decent income from it.

Care to add a bit more detail about what market? I am curious

All I'll say is it's a huge consumer market, tons of competition, tons of consumers. When I told friends what market I was going into, their most common response was "but there's already huge players in that market, how can you compete?"

Re: Ask HN: We have a great team and capital but can't find a good idea

#308
Because great teams seemed more important than great ideas, YC tried funding teams without ideas, but it didn't work.

Market research is deadly, because that's what big companies do. If there's an objectively verifiable opportunity, they are already on it.

This is what's so interesting about Christensen's "disruption" - part of the definition is that the opportunity is not appealing to incumbents. It's too small, not wanted by existing customers, etc.

So perhaps the key thing missing from "great teams without ideas" is the passion (aka craziness) to wholeheartedly pursue something that can't be objectively verified. And then, to discover unforseeable problems and solve them; or, to pivot to a new idea, serenpiditously picked up along the way... the journey provides the destination.

So... just start. "Scratch your own itch" is a good way to identify an unmet need, just something to start with. Don't consider market size etc. Also, don't commit much money to it, just your time, treat it as an experiment.

Re: Ask HN: We have a great team and capital but can't find a good idea

#310
Competition isn't in the number of vendors in a space, but rather who reaches a market the best. I wonder if some of those ideas would look a little different.

Another source for uncovering pain is consulting - less about the income and more about uncovering needs and gaps tied to marketplace needs.

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