Start-ups for the Rest of us (Episode 138: More Tips for Identifying Startup Idea)

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Rob Walling, host of Startups for the Rest of Us, had an interview with Mike and talked about More tips for Identifying Startups Ideas.

In Episode 138, Rob and Mike had a share of experiences and mistakes that will help developers, designers and entrepreneurs in launching their software products.

Discussion Topics:

  • How to Hire a VA for Your Start up Training Course launched –  Spending several hours Creating a Public URL..(Filming, Editing, Record Companion Screencast, Draft Emails)

“It’s always more work than I think it’s going to be to get the product out the door you think.”

“But you really want it to be good and you really want to customize it when you’re e-mailing people about it.”

  • Working with Customers and Potential Customers – “Picking ones that can use the app based on the features it has right now.”
  • Finding the answers to your questions and the customer’s

“Should it really be the problems you’re thinking about trying to solve?”

  • FINDING THE RIGHT PEOPLE WHO WILL VALUE THE PRODUCT

When Customers ask: “Hey, I built these products. How do I market it? How do I sell it?”

..ASK YOURSELF THIS QUESTION:

“Who were you talking to in order to…to find out if they were interested in paying for it to begin with?”

  • Thinking like Steve Jobs 

“if you have an idea that doesn’t solve a problem”

  • BE THE –Innovator, Forward Thinker, Coming up with things ahead the curve

“If you are going to go the bootstrap route…..

  • START WITH PROBLEMS NOT IDEAS”

“You don’t want to ask what problems that people are having in general because you’ll get this gamut of things that is not really going to help you..

Ask them specifically for what types of problems they’re having at work.”

  • Knowing the Benefits of being Customer Zero- “You can feasibly then solve … to narrow a problem or build to narrow a solution because you’re only solving your problem.”
  • Managing Software- Taking a look on present products and evaluating performance and customer feedback.

3 FACTORS IN TRYING TO FIND AND IDENTIFY IDEAS FOR STARTUPS

1) SPONTANEITY -   Sitting down waiting for ideas to come…(In the context of finding the best idea)

  • MOST PEOPLE DON’T MARRY THE FIRST PERSON THEY MEET, BUT TO SOME IT MAY WORK

“Try and figure out which ideas are viable and which ones are not and from there, that’s where you’re making your choices.”

2) INSIDER KNOWLEDGE-   Being part of an industry or know someone who does.

  • LOOKING AT THE BUSINESS YOU’VE BEEN INVOLVED IN
  • TAPPING INTO YOUR NETWORK OF PEOPLE

PRO’s

“There’s piece of your experience but then there’s also the network or people that you have.”

“…..A way to increase the chance that you will succeed”

CON’s

“…Insider knowledge can easily kind of blind you and make you overconfident in your idea”

3) RESEARCH-   Figuring out different problems of people and generating ideas.      Knowing and choosing the profitable path.

  • IT TAKES WORK! NO OTHER WAY AROUND
  • Look for people that you don’t know.
  • Troll customer forums for any large company. Know the people’s complaints.
  • Don’t build a functionality that the company may implement themselves. Look for add-on products or plug-in.
  • Do some consulting work

MY BIGGEST TAKEAWAY!

“There are repeatable ways and there are some best practices or at least some good ways that people do come up with multiple start-up ideas.”


Rule of Thumb!

“Find ten people who not only have the problem but are willing to pay the price that I name upfront.”- Rob

“The last thing you want to do is go into a space where it is the most boring thing on the planet to you because you’re probably going to lose motivation for going after it… Don’t do something you have no interest in working with” – Mike

“Talk to customers before you write any code.”

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