Published on March 5, 2014
How to Generate Business Ideas Mike Fishbein, https://stpcollege.com/
About Me Founder of Startup College Author of Customer Development for Entrepreneurs Featured in Huffington Post, Entrepreneur.com, and more Previously venture studio and corporate innovation
Job of an Entrepreneur Serve customers by solving a problem or delivering value In a free market, entrepreneurs who don’t serve customers fail To execute, an entrepreneur must identify customer demands and how to meet them
Problems and Inefficient Processes “The way to get startup ideas is not to try to think of startup ideas. It's to look for problems…” - Paul Graham
How to Identify Demand 1. Scratch Your Own Itch 2. Interview Customers 3. Meet Known Needs 4. Do What’s Working
1. Scratch Your Own Itch “Why is it so important to work on a problem you have? Among other things, it ensures the problem really exists. It sounds obvious to say you should only work on problems that exist. And yet by far the most common mistake startups make is to solve problems no one has.” – Paul Graham, YCombinator
How to Scratch Your Own Itch What unmet needs do you have? What challenges do you face throughout the day? What product do you wish you had? Make sure you’re not the only one...
2. Customer Development Interviews a. Pick a customer segment Based on your relationships, access, propensity to buy, passion b. Ask them what their problems are What’s the hardest part of your day? What unmet needs do you have?
3. Meet Known Needs “Great companies do 1+ of 3 things: Get you laid, get you paid, get you made” Dave McClure, 500 Startups
Examples Paid = Salesforce, banks, Airbnb Made = Twitter, college Laid = Cars, Clothes, Tinder Transportation = Uber Surviving = Food Save Time = Buffer Entertainment = Movies
4. Do What’s Working “At a time when so many internet entrepreneurs are running around Silicon Valley trying to do something no one else has ever done, [Evan] Williams believes that the real trick is to find something that's tried and true” - Twitter co-founder via Wired
4 Second Mover Advantages Validated customer demand Customer acquisition strategy Increased awareness Observe product management and marketing
Examples of Second Movers Facebook Simple 5 Hour Energy Ecommerce Social media consultants
How to Test Business Ideas “I have an idea...now what?”
3 Key Questions Is there demand for this? Would supplying this lead to $$? Am I suited to supply this?
Does anyone want this? Customer development interviews to test hypotheses Pre-sales to validate demand Minimum viable product to get fast feedback
How can I make money? Is this a big enough problem that people will pay you? Is the market big enough to meet your goals? How strong is the competition?
Am I qualified? Do you have a competitive advantage? Do you have the skillsets required? (marketing, sales, management, etc.) Do you have the relationships (customers, partners, etc.) Do you have the capital or access to capital? Are you passionate enough to run this business for years?
Key Takeaways Solve problems, deliver value Gain customer insights to identify demands Practice customer development to minimize the risk of spending a bunch of time and money on something no one wants
To learn more... https://stpcollege.com/ ...check out Startup College
Canvas Prints at Affordable Prices make you smile.Visit http://www.shopcanvasprint...
30 Días en Bici en Gijón organiza un recorrido por los comercios históricos de la ...
Con el fin de conocer mejor el rol que juega internet en el proceso de compra en E...
With three established projects across the country and seven more in the pipeline,...
Retailing is not a rocket science, neither it's walk-in-the-park. In this presenta...
10 Great Ways to Generate Business Ideas from Entrepreneur.com. Home. Latest; Top 50; How To; Lists; Events; Subscribe. 6 min read Make More Happen. 10 ...
Trying to find a great business idea? Successful entrepreneurs use their imagination every day to make new decisions to make the world a better place.
You don't have to be a deep thinker to come up with new ideas. Here are 7 ways to break your conventional thinking and make that light bulb appear.
Coming up with business ideas should be fun. Here are three games you can play anywhere -- whether walking through store aisles or out for a jog -- that ...
Here are 10 best methods to generate brilliant ideas. ... To generate ideas to solve business problems we all need a starting point.
Opinions expressed by Forbes Contributors are their ... Business builders who generate bold ideas possess a high level of knowledge acquired ...
Usually when you’re brainstorming business ideas and business name ideas, you’ll be constantly checking to see if a good domain name is available.
Want to start your own business? But you're still searching for the right business idea?
If YOU want to get unlimited supply of IDEAS or GETTING THE BEST FROM YOUR BUSINESS, then there are only 2 BOOKS I would really prescribe and insist you to ...
A Brilliant Method To Bolster Your Business ... 10-step methodology that will allow you to speedily generate lots of different ideas for your ...