Not all newly created companies are startups. They differ from a regular greenfield business in that they can get financing not while they are operating, but already at the idea stage. Decisions in a startup are made quickly, which makes it flexible. Since startups are still mostly small businesses, they can be called more pivotal than large companies. So how do professionals look for startup ideas?
The idea for a startup usually comes up in the course of everyday life.
1.
Solve a problem that you yourself have encountered. For example, your favorite messenger lacks a convenient feature, a book site lacks the ability to share reviews with those who have read the same nonfiction, and a pizza delivery service has not developed a convenient, quick app. Make sure other people are missing out on new developments, too. Find like-minded people and experts and solve the problem.
2.
Predict the future. It is already clear that automation will soon penetrate all possible areas of life, and robots will replace humans wherever it is realistic. So make your products unmanned, autonomous, and electric.
3.
Work at the intersection of two or more fields. This way the most unusual and useful startups can appear. A simple example: any sphere in which IT is added becomes more technological, faster and more user-friendly.
4.
Find out what already exists that can be improved. Upgrading in many areas can be successful, too. An example is Airbnb, which has made short-term rentals as convenient as possible around the world, becoming better than any service that existed previously for it.
5.
Make the product cheaper. This method is particularly suitable for IT. In some countries, the labor of programmers costs less than abroad. But cheap specialists also make competitive products that are in demand all over the world, so you can create a product for the American market, for example, by hiring Indian IT people.
6.
Keep an eye on what’s going on around you. Obviously, when a new neighborhood is built, there will be grocery stores and other infrastructure nearby. So when a product (program, service) comes on the market, you can react to it and offer a related service.
7.
Borrow from friends. There may be some people in your circle who have promising ideas that simply don’t have the time or understanding to implement them. You can do this with their permission.
8.
Borrow Abroad. It is an old truth that what exists abroad will not appear in your country for a long time to come. So travel and be inspired and copy ideas.
Andrei Pometun, founder and CEO of Selvery, a service for creating personalized sales presentations
A startup is not a business. At first you think you have to use the knowledge and experience you have gained over the previous years. But a startup is just about finding a business model. So you can’t use other people’s experience, you don’t know if your customers need you or how to tell them about your project. In a startup, you have to be prepared for complete unpredictability and for sharp 180-degree turns. You have to have a team ready for such a format of work, only then will there be a chance to turn the startup into a business.
