Where Startup Ideas Come From
== Excerpts ==
This book includes four methodologies
I propose to (1) generate an idea based on what market demand data you have or can get quickly, and (2) iteratively develop the product to ensure it meets demand.
Section 1: Introduction to Starting a Business
Chapter 1: What is a Business?
“trade,” as used in the definition above, can be defined as “an exchange of value.”
Chapter 2: Why Start a Business?
Why Not Start a Business? (Here’s Why Startups are So Hard!)
Section 2: How to Get Business Ideas
Chapter 3: 2 Things You Need to Generate Business Ideas and Execute
domain expertise and passion
a secret — in the Peter Thiel sense: something you believe that most other people don't believe.
Chapter 4: Scratch Your Own Itch
How to Identify Your Problems
Develop a Customer Persona and Validate Your Idea
think very specifically about who else is likely to want to use it. The following questions will help us think through it: Why
- Scaling Efficiently and Mitigating Risk
Chapter 5: Ask Your Customers
It’s great to come up with ideas, but if they will not help you start a business, and if starting a business is your goal, it may not be as productive as finding problems.
- Choose a Customer Segment
How to Choose a Customer Segment
start with a customer segment you want to serve.
- Identify Problems and Unmet Demands
Chapter 6: Meet Known Needs
things nearly everyone wants.
the solution will still need to be validated.
In my opinion, the best startup ideas are obvious. They are massive improvements to pre-existing and widespread problems.
Examples of Known Needs
Make Money or Save Money
Self Image and Power
Relationships and Reproduction
Security and Safety
Business to Business
if they don’t have an incentive to solve it, they probably won’t be motivated to use or pay for a solution.
The Importance of Domain Expertise
Lack of domain expertise or a professional network can be overcome
It must also be hard for people to satisfy the need.
a different competitive axis, bundling or unbundling,
Chapter 7: Do What’s Working
“Do what’s working” means supplying, or testing, something you know people want. It could mean (1) providing the validated solution to the same problem (replicating), (2) supplying a validated solution for one problem to a different problem, or (3) providing a variation of a validated solution to the same problem (differentiating).
The following chapter describes each of the three variants
All or in Part
Same Problem, Same Solution (Replicate)
are four advantages to being a second mover.
b. Product Management and Marketing
c. Customer Acquisition
Second Mover Disadvantages
- Different Problem, Same Solution
- Same Problem, Similar Solution (Differentiate)
Examples of competitive axes which you could compete on, which I’ve included in the following section, are product, privacy, price, and unbundling.
How to apply pricing differentiation to your next venture?
Conclusion to Chapter 7
Consider Your Goals
Chapter 8: 46 Business Ideas
16 Small Business Ideas
Bar and/or Restaurant
Agent, Connector, Broker
Online Business Ideas
Why Passive Income is So Great
5 Online Business Ideas
16 Sites to Make Side Money
Why You Should Self Publish a Book
Benefits of Writing a Non-Fiction Book
a. Market Your Business and Acquire Customers
b. Acquire Consulting Clients
c. Get Paid Speaking Gigs
d. Get Paid for Corporate Training Workshops
e. Make Money
f. Have a Flexible Work Schedule
g. It’s Fun!
h. Get Press Coverage
i. Network and Meet New People
j. Build Your Brand and Authority
k. Prove Yourself to Potential Clients
l. Diversify Your Revenue
m. Organize Your Thoughts and Learn
n. Improve Your Authenticity and Reduce Shyness
o. Get Paid to Learn
p. Improve Your Speaking and Communication
Why Self-Publish Rather Than Signing with a Publisher
The Bottom Line on Self-Publishing
check out How to Write a Book in 10 Days
9 High Growth Tech Startup Ideas
FINRA is a “self regulatory organization”
p2p (peer to peer) marketplaces like Airbnb, or even Udemy,
Operating System(s) for Mobile
Real Money Gaming (possibly with Bitcoin)
Etsy for Food and Beverage
Teach Kids How to Code
Search Engine Based on Reviews
FDIC for Bitcoin
Section 3: How to Start a Business
Chapter 9: The First Step to Take After Coming Up with a Business Idea
So, the first step to take after coming up with a startup idea is to talk to your customers.
Chapter 10: What is Customer Development and Why Should Entrepreneurs Practice It?
Chapter 11: Is Your Idea Worth Pursuing?
Case Study: How I Started 3 Businesses in 3 Months
Key Takeaways and Additional Startup Resources
Additional Resources *