Updated: Oct 4, 2022
They say desire is the half of action. But in order to act, you must know-how. The same case goes when you create your own business: ideas come first. But do you know how to create a successful startup idea? Here are the tips for the ideation stage.
In order to generate your startup idea, you should know the mistakes to avoid. So, let’s have a look at the most common mistakes while forming the startup idea:
Don’t believe that your idea is unique. If you think that Facebook was the first social network, you’re wrong. However, it’s the first that comes to mind. An idea is never perfect or unique without great execution.
Don’t jump into the first idea that came to your mind. Research about the idea. You may find out that it isn’t what people need exactly, or it isn’t solving any problem. By doing some research, you may find out more and come up with a better-formed idea.
The problem first, solution next. Don’t offer a solution without explaining what the problem is and why you think the issue is a problem. Fun fact: Y Combinator recently created a terminology about such startup cases: SISP - Solution In Search of a Problem. Try to search for a problem first, then offer a solution.
Don’t think locally. A startup idea should be available to be spread all over the world. If you think of the local market only, your progress will stop, and secondly, you will not be able to compete with global competitors.
Complex ideas die. Think of one market, one product, one company only. In other words, focus only one area. The mixture of various ideas can lead to failure.
Don’t think of a small market. You may have a unique startup idea, but if you refer to a small market, it will not work. According to statistics, around 30 % of startups fail just for entering small markets. Entrepreneurship is vital to competition, make sure that you are referring to a big market where competition is real.