Investor Connect Podcast

The Idea Maze

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The idea maze is a mental model for how a founder sorts through the plethora of ideas to find the right one on which to build a startup.

There are many choices including the problem to solve, product to build, and how to monetize.

In navigating the idea maze for your startup consider these points:

Know the industry well enough to know what ideas have worked and what did not.

One learns more from the failures than the successes.

Borrow from other industries to apply to the sector you are pursuing.

There are more good models to draw from outside your target sector.

Work in the industry to learn more about the current structure.

There you will find experts that can give you feedback on your ideas.

Identify the core challenge to solve.

Make the core problem your central focus then walk through the various ideas to test them.

Watch for disruptions in the industry from the market, technology, or other.

Disruptions provide a new set of ideas to apply.

Map out the idea maze for your next startup to see how many possible solutions exist.

 

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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Direct download: The_idea_maze.mp3
Category:general -- posted at: 5:00am CST

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