← Back to Simplified Entrepreneurship

Where it all started - Starting with WHY?

Start with Why

Recommended read

Thinking of Ideas | Product Checklist

Product Checklist is a collection of best practices for building products from idea to launch to growth after launch.

www.productchecklist.co

I have a startup idea! What do I do next?

Initial Research and Brainstorming

How to get startup ideas?

How to Get Startup Ideas: Startup Ideas, Problems to Solve, Becoming a Founder | Y Combinator

YC Partner Jared Friedman shares advice on how to get startup ideas. This video was recorded for the future founder track in Startup School 2020. Hi, everyone. My name is Jared. I'm a partner at YC. I'm going to talk about how to get startup ideas.

www.ycombinator.com

How to Evaluate startup ideas?

How to Evaluate Startup Ideas: Startup Ideas, Getting Started | Y Combinator

YC Partner Kevin Hale walks us through the process of evaluating ideas and how founders should think about their startups. Watch if: you haven't picked a startup idea yet you are worried that your startup idea isn't good Okay, so this is how to evaluate startup ideas.

www.ycombinator.com

Also, please read this great article on how to evaluate startup ideas from "The Path Forward"

How to evaluate your startup idea

All great startups start off with an idea followed by years of hard work. So how do you evaluate quickly and efficiently whether the idea merits further investment of your time and money? The following article describes the process that we have seen play out with great success for the companies we have been working with over the last 2.5 years.

thepathforward.io

Key takeaways:

1. Staying objective.

2. Using the Lean Canvas to identify your assumptions.

3. Identifying assumptions to test your hypothesis

4. Test your assumptions around the problem, customers, and existing solutions.

5. Testing your unique value proposition and solution

6. Testing marketing channels

7.

7a Test value and revenue in an unscaleable way through a concierge service

7b Test value using prototypes

8. Keep learning more about your customers at all times

A four-step guide to evaluating startup and new venture ideas

Summary:

Early-stage investors and venture capitalists — way before they see a working product — need to see solid evidence that the new business idea has the potentials to grow quickly. Four factors need to be analyzed when assessing the potentials of a startup:

• The demand side — the problem, or initial conditions
• The supply side — the solution and offering
• The connectors — drivers, insights, or reasoning as to why the ‘assumed’ company, will successfully connect the supply and demand sides and create economic value
• The beliefs — the positive emotions, the excitement around the company and its people

Source:

A four step guide to evaluating startup and new venture ideas

There are numerous reasons why we need frameworks to evaluate startups. Wanna-be entrepreneurs may have numerous ideas that they don't know which to pursue or which to quit their jobs over. Rolled out new business ventures may need to pivot business models, needing to evaluate move...

medium.com

The Startup Race - Identifying and Motivating the Best Entrepreneurs

1 - Choose a good startup idea Click on this tool https://bit.ly/Startup-eval inspired by Inspired by Matt Blumberg's book Startup CEO to evaluate your startup idea Does the market need my idea? How many people can benefit? Can I beat my competitors? Is this a problem I can solve?

thestartuprace.com

Startup Ideation Process

5 Essential Steps for Developing a Winning Startup Idea

A company is only as strong as the idea it grew from. However, for many entrepreneurs conceiving a billion dollar startup idea is not as easy as we would like. Because the process of ideation can be daunting, we often give up on our dreams of launching and running successful companies.

fi.co

Additional resources

Why Your Idea is Worth Nothing by Vlad Kachur

Elon Musk on Millennials and How To Start A Business

How to validate startup ideas?

Idea Validation: Steps and Tools for Testing Your Idea

Idea Validation: Steps and Tools for Testing Your Idea

Did you know that most business ideas fail within the first year? Although the absence of money and inability to execute the idea are often mentioned as reasons for failure, the root cause is usually lack of proper market research.

www.viima.com

Lean Market Validation: 10 Ways to Rapidly Test Your Startup Idea

Lean Market Validation: 10 Ways to Rapidly Test Your Startup Idea

This article outlines the advice I gave students and includes updates on some of the concepts to my current thinking on lean market validation. For many first-timers with great ideas, the process is exciting but also a bit intimidating.

www.productplan.com

Define your value proposition

What is the value proposition?

"A value proposition tells prospects why they should do business with you rather than your competitors, and makes the benefits of your products or services crystal clear from the outset" - Dan Shewan

How to define your Value prop and customer segments?

Use your value proposition to convey the strong message of why your product matters and explain in terms of "features vs benefits".

Features vs. Benefits: Here's the Difference & Why It Matters

Think about your last few marketing campaigns. Look over some of the emails you sent to prospective customers, or the social media updates you made promoting your brand-new product or service. Read over some of the blog posts you published. How much of this promotional content focused on what your product does?

www.wordstream.com

101 Examples of Features Versus Benefits

As these examples of features versus benefits show, nobody wants to buy spinach... people want strength, vitality and Olive Oyl. Features versus benefits may indeed be Marketing 101, but a quick glance at the sales pitches of many online businesses makes me question whether anybody took that particular marketing nugget on board through the self-imposed hangover of their college years.

vappingo.com

Other resources

How To Get A Startup Idea?

How To Get A Startup Idea? [Comprehensive Guide] | Feedough

Startup ideas are great. They make us feel like we are onto something. Something really big. And for some people, coming up with these ideas is as easy as finding the right song on Spotify. For others, it's nearly impossible. Take this for example - I've been living in this city for the last 20 years.

www.feedough.com

Why you should use the ideation process when building your startup?

Why You Should Use Ideation When Creating Your Startup

If you're interested in entrepreneurship, you probably know this statement by Theodore Levitt, Marketing Professor at Harvard. The idea behind it is that successful businesses, products, and services are those capable of solving a problem. Finding the answer to a problem is a key step when creating a startup, however, it's just the beginning.

www.inacademy.eu

Startup Idea: Ideation Guide for To-Be Entrepreneurs

Startup Idea: Ideation Guide for To-Be Entrepreneurs

No business can thrive without the discovery of a great idea. But, then again, an idea needs to undergo proper development to transform into a successful business venture - else your unpolished idea dies a quick death. In this article, we will talk about how one can turn an idea into a business.

medium.com

• Where it all started - Starting with WHY?
• Start with Why
• I have a startup idea! What do I do next?
• Initial Research and Brainstorming
• How to get startup ideas?
• How to Evaluate startup ideas?
• A four-step guide to evaluating startup and new venture ideas
• Startup Ideation Process
• Additional resources
• How to validate startup ideas?
• Idea Validation: Steps and Tools for Testing Your Idea
• Lean Market Validation: 10 Ways to Rapidly Test Your Startup Idea
• Define your value proposition
• What is the value proposition?
• How to define your Value prop and customer segments?
• Other resources