Start with a market/space first and look for a problem - Deepstash

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Start with a market/space first and look for a problem

Start with a market/space first and look for a problem

If you have a market in mind, talk to people in that space to better understand their experiences and challenges. Look for a pain that is so bad that customers will try almost anything to solve it.

For example, Christina Cacioppo, CEO of Vanta, discovered that SOC2 - the way a company needs to prove its security competency, was a major pain point. While security consultants can offer help, people wanted an easier solution.

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MORE IDEAS ON THIS

What to do once you have validation

  • Take time to appreciate the small and large wins.
  • Document your metrics and share them with your investors and advisors.
  • Keep updating your roadmap and goals, so your team knows where to focus their efforts.
  • Carefully expand your team. Ensure to build to company cultu...

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How to come up with an idea

How to come up with an idea

  1. Market first: Start with a market or space that you find interesting, then look for a specific problem.
  2. Experience ripe for improvement: Look for areas where you believe there should be a better consumer experience and iterate from there.

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How to know when an idea is promising

How to know when an idea is promising

There's no single right way to get started or build a business. Timing, luck, and grit often play an outsize role.

However, we can learn from how the best entrepreneurs went about building their companies.

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Common traps to look out for

  • Asking the wrong questions. Ask people about their past and current actions and problems, not to predict their future behaviour.
  • Settling for a "nice to have" reaction from early customer discovery. Instead, search for a big problem and solution.

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Quick startup tips

  • Don’t rush into just starting a company—wait for the right thing to hit you personally, emotionally, and logically.
  • If it feels like you’re pulling teeth to find the pain point, you haven’t found a problem worth solving.
  • Be sure to validate the pain points for each persona yo...

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Validating the idea

Validating the idea

First build a MVP (minimum viable product) to test with potential customers and validate that people want the product.

For Christina at Vantra, she knew they were onto something when people proactively reached out to ask about what she was building.

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Finding an idea

When you're at the idea stage, it's easy to throw ideas around and poke holes in them. Don't do this. All ideas are flawed, you're limited by what you know, and it's hard to get honest feedback when you're talking through hypotheticals.

Instead, get out into the market, have conversations, ...

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CURATED FROM

CURATED BY

micmcbrid

Psychotherapist for dance movement

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Start with a niche market

Start with a niche market

Startups should start with a very small market because it's easier to dominate than a large one. Once you dominate it, scale up and move into adjacent broader markets.

The perfect target market for a startup is a small group of particular people that are served by f...

How should your problem look like for a startup?

How should your problem look like for a startup?

In a world where there tons of problems found daily, tons of ideas culminating in minds, only few of them sustain, and remaining, fail! So what exactly are some of the things that you should keep in mind about your problem, before you think of starting up!

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