Finding Profitable Startup Ideas
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Finding Profitable Startup Ideas
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Re: Finding Profitable Startup Ideas
#2Cached version: https://webcache.googleusercontent.com/search?q=cache:46fLVn...
Re: Finding Profitable Startup Ideas
#3The author doesn't describe the most reliable indicator of new opportunity, which is economic change. Change can come in the form of shifting demographics, new tech, or new product adoption. These are the events that increase demand or decrease cost for a new product opportunity. They should be where you direct your attention.
Re: Finding Profitable Startup Ideas
#4Are there research firms that do ground work research, focus groups, talk to people on the street, build real professional networks to extract "problem stories" for ideas, and do competition research to the same level that e.g. short sellers might?
Are these just normal market research firms, and are there boutique firms that have low-volume, high value clients?
Re: Finding Profitable Startup Ideas
#5The author doesn't describe the most reliable indicator of new opportunity, which is economic change. Change can come in the form of shifting demographics, new tech, or new product adoption. These are the events that increase demand or decrease cost for a new product opportunity. They should be where you direct your attention.
I'd like to hear more about this. Is this a proven system, your personal theory or a little of both?
Re: Finding Profitable Startup Ideas
#6The author doesn't describe the most reliable indicator of new opportunity, which is economic change. Change can come in the form of shifting demographics, new tech, or new product adoption. These are the events that increase demand or decrease cost for a new product opportunity. They should be where you direct your attention.
I'd like to hear more about this. Is this a proven system, your personal theory or a little of both?
It's my own deductive theory. An opportunity is a profitable product, meaning demand is higher than cost. Most opportunities are new opportunities, due to market efficiency. So something must have occurred recently to increase demand or decrease cost.
Re: Finding Profitable Startup Ideas
#7The author doesn't describe the most reliable indicator of new opportunity, which is economic change. Change can come in the form of shifting demographics, new tech, or new product adoption. These are the events that increase demand or decrease cost for a new product opportunity. They should be where you direct your attention.
Aren’t those covered in Blue Oceans?
Re: Finding Profitable Startup Ideas
#8The author doesn't describe the most reliable indicator of new opportunity, which is economic change. Change can come in the form of shifting demographics, new tech, or new product adoption. These are the events that increase demand or decrease cost for a new product opportunity. They should be where you direct your attention.
Aren’t those covered in Blue Oceans?
What do you mean?
Re: Finding Profitable Startup Ideas
#9The author doesn't describe the most reliable indicator of new opportunity, which is economic change. Change can come in the form of shifting demographics, new tech, or new product adoption. These are the events that increase demand or decrease cost for a new product opportunity. They should be where you direct your attention.
Great point. Reminds of a very good book. If you haven’t read “Good strategy, bad strategy” by R. rumpelt, you definitely should:
Out of the myriad shifts and adjustments that occur each year, some are clues to the presence of a substantial wave of change and, once assembled into a pattern, point to the fundamental forces at work. The evidence lies in plain sight, waiting for you to read its deeper meanings.
Re: Finding Profitable Startup Ideas
#10It's interesting that of the many friends I have who started companies (10 - 12), only two of them didn't receive funding. Both businesses built from scratch and now have a revenue somewhere in the neighborhood of $1m a year after two years. That's honestly pretty good IMO.
The other eight or so friends who started companies accepted some form of money. Of those, only two are still in existance. The survival rate of the other guys are 2/2, the survival rate of the funded startups to-date is 2/(8-10) or I think part of that is simple because the people who didn't have funding didn't have a choice. It was survive or die.
It reminds me of probably the wisest words I've read regarding startups:
> Startups rarely die in mid keystroke. So keep typing!
- How Not to Die by Paul Graham[1]
The point is, focusing on something practical that doesn't need funding is like the easiest way to succeed and also find real problems. I've accidentially stumbled on solutions to problems other people have had and often those are the greatest little apps that can make you a steady income.