Evaluate Startup Ideas for Success | Startup School

Finding the Right Problem

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  The most common mistake with startup ideas is building something that doesn't solve a real problem for users.
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  Start with a high quality problem, not a solution in search of a problem, to ensure people actually care about your solution.
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  Founders should Google their startup idea to see who has worked on it in the past and figure out what the hard part of the idea is that has caused others to not be able to solve it.
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  Your startup idea doesn't have to be perfect, it just needs to have enough interesting qualities to morph in the right direction.
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  Founder market fit is crucial for startup success, as the right team with relevant expertise can make all the difference in bringing an idea to life.
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  A good problem for a startup is one where the alternative to your solution is literally nothing.
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  Despite thousands of developers recognizing the problem of integrating credit card payments to websites, only Stripe's founders were willing to tackle the difficult aspects of building the solution.
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  A great market situation for a startup is one with existing competitors, but where the startup has noticed something the competitors have missed or where the competitors' products are lacking.
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  Look for big industries that seem broken as they are probably right for disruption when it comes to finding a startup idea.

Creative Idea Generation

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  The best way to come up with startup ideas is to notice them organically, as at least 70% of YC top 100 companies had their ideas this way.
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  To generate startup ideas, become an expert in a valuable field by working at a startup and building things that you find interesting.
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  Sometimes the best startup ideas come from industries that are not traditionally associated with tech startups, like veterinary medicine.
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  Look for things in the world that have changed recently that might have created a new opportunity for startups, like the pandemic creating new opportunities for companies like Gather Town.