Signs of a Great Startup Idea
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
In reviewing startup ideas for your business here is a list of signs pointing to good ones:
- Growth -- there’s a growing market around it.
- Broad-based -- a lot of people have the problem you are trying to solve.
- Urgent -- people need to solve the problem immediately.
- Mandatory -- the problem must be solved and cannot be ignored.
- Frequent -- the problem comes up regularly and not just once in a while.
- Budget -- the customer has enough funds to pay for the solution.
- Authority -- your customer has the authority to buy the solution.
- Experience -- you know well the problem and the market.
- Network effects -- you can build network effects into the solution and gain those advantages.
- Switching costs -- the solution is sticky and difficult to move out of it.
Test your startup idea with these conditions to see how well it works.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.
Let’s go startup something today.
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