Sep 29, 2022
What Is Ideation for Startups?
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
Ideation is a thought process that takes conceptual ideas into implementation.
Founders launching a new startup go through the ideation process to generate the concept for the business.
Ideation comes from the current knowledge of the problem to be solved molded by principles and convictions.
Ideation often comes from brainstorming sessions, social media posts, webinars, and others.
Ideation focuses on solving a problem by generating new approaches to find a solution.
To perform ideation consider the following:
Start with a problem to be solved.
Identify the key pain points the user faces.
Draw on the ideas of others to create potential solutions.
Consider inverting the problem so you can approach it from another perspective.
Consider making incremental changes to create a derivative solution.
Consider combining several small solutions to create a new solution.
Ideation draws from the work of other companies as well as the founder's experiences.
Ideation fosters innovation by reverse engineering a problem.
Consider the role of ideation in your startup.
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