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Common Problems
- Not solving a real problem - Solution In a Search of a Problem (SISP)
- Getting stuck on a "tarpit idea" - Widespread problem that seems easier to solve
- Not evaluating an idea
- Waiting for perfect idea
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Key Questions
- Is there a founder/market fit?
- Ex. Plangrid (W12) - Construction Productivity Software
- i.e. Pick a good idea for your team
- How big is the market?
- How acute is this problem?
- Ex. Brex (W17) - Credit Card for Startup
- Do you have competition?
- Having competition could be counterintuitively good, but if it's an entrenched problem, it'll require new insight
- Do you want this?
- Did this recently become possible or necessary?
- Ex. Checkr (S14) - Background checks via API
- Are there good proxies for this business?
- Ex. Rappi (W16) - Food delivery in Latin America
- Is this an idea you would want to work on for years?
- Is this a scalable business?
- Is this a good idea space?
- Ex. Fivetran (W13) - Tool for data analysis
- Is there a founder/market fit?
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Things that make startup ideas seem bad, but actually make them good
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Setting up for future ideas
- Become an expert on something valuable
- Work at a startup
- Build things you find interesting
- Ex. Replica
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Recipes for generating startup ideas
- Start with what your team is especially good at
- Ex. Rezi (W17) - Apartment Renting
- Start with a personally encountered problem
- Ex. Vetcove (W16) - Supplies for Veterinarians
- Things you wish existed
- Ex. Doordash (S13) - Food delivery
- Things changed in the world recently
- Ex. Gather Town - Digital space for teams
- New variants of successful companies
- Ex. Nuvocargo (W18) - Cross-border logistics for Mexico ↔ USA
- Talking to others about problems they face
- Ex. AtoB (S20) - Fuel Cards for Truck Drivers
- Big industries that seem broken
- Find a Co-founder who has an idea
- Start with what your team is especially good at
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