Any venture you see on Earth first started as an idea. Then, people took a couple of actions on it, and it became a venture worth billions. Some of them succeeded greatly, while others failed miserably. So, we are going to talk about how to find a good idea, validate it so people wait for it, and eventually scale it to the sky while avoiding failure.
From simple to advanced, we are going to talk about all of them. If you are thinking about an idea and wondering how to find one, you should follow three things:
1. Passion,
2. Complaints, and
3. Ego. Now, I will describe each of them.
- Passion the word itself means something you deeply care about. This is one of the strongest sources of business ideas because when you truly care about something, you understand it better than others. For example, if you love reading books, you can create videos with book summaries. If you are passionate about teaching, you can sell online courses. If you are passionate about your work, you can build products or sevices around it. But the most important question is not whether you care about your passion. The real question is: how many people care about it? If millions or even billions of people care about the same thing you are working on, your passion can turn into a billion-dollar venture someday.
- complain The second is complaints. When you complain about something—why it is like this, why it is not working, or why it is not good for you __ you are not just complaining; you are identifying a business idea. The only thing you need to do is figure out how many other people have the same complaint. If enough people are facing and talking about the same problem, then you have a really good business idea.
- Ego for thousands of years, we have heard that ego is bad. But when it comes to having business ideas, ego can be good. It makes you believe that you can do something better. For example, if someone is running a service business, you may think you can provide better service. You may believe you can create better products, or offer an easier, faster, and better way than what already exists.
How To Evaluate The Idea
Evaluating an idea is the most important step in turning a simple thought into a great business.
When you have an idea, share it. Don’t be afraid that someone will steal it. To be honest, most people don’t have the time, focus, or discipline to execute even if it is a billion-dollar idea. Many will think your idea is worthless at first. That is normal.
Take Airbnb as an example. When it started, many people thought it was a terrible idea. Today, look at its valuation. The lesson is simple: ideas often look small in the beginning.
After you come up with an idea, talk to as many people as possible. Take notes. Ask for feedback. Ask them what to correct, what to add, and what to remove. Ask direct questions:
- If you had this problem, would you buy this product or service?
- Would you recommend it to a friend?
Next, define your ideal customer. Knowing exactly who your potential buyer is gives you direction. Once you identify them, talk to them specifically. Ask at what price they would buy your product. From there, make assumptions about your margins and start thinking about your business model.
Then, figure out how you will deliver the product or service. How will it reach the customer? What channels will you use?
Look for the helps from outside what are the people you will need to execute this idea that will be really if become your co-founders !
After that, study your competitors. Many people think having competitors is bad. It is not. Competitors prove that there is demand. They show you what customers are already buying. More importantly, they show you what is missing. Look at where they are weak. Identify what they lack. Then improve the product, the service, the speed, the price, or the experience.
Finally, don’t stop at one idea. Come up with multiple ideas before you finalize one. Compare them. Test them. Then choose the strongest one based on market demand, customer interest, and scalability.
The Problem with the ideas
1. Creating Something That Solves No Real Problem
Many people create products or services that do not solve a real, specific problem. They fall in love with the idea instead of the problem.
For example, imagine someone building a new productivity app just because it looks cool, without identifying a clear frustration users are facing. That is building for ego, not for need.
Strong founders fall in love with the problem, not the product. They focus on solving something real, painful, and specific.
2. Falling Into “Trap Ideas”
Some ideas are everywhere. Every beginner entrepreneur is thinking about them because they target big, obvious problems.
For example:
- “I will build the next social media platform.”
- “I will create the next Amazon.”
- “I will make a better Uber.”
These are widespread ideas. The problem is big, but competition is massive, and most people underestimate what it takes. You must avoid chasing ideas just because they are popular.
3. Not Evaluating the Idea Properly
When a new idea comes, excitement takes over. But excitement is not evaluation.
You need due diligence.
Ask:
- Who exactly has this problem?
- How often does it occur?
- Are people already paying to solve it?
- How strong is the competition?
Without evaluation, you are gambling not building.
4. Waiting for the Perfect Idea
No idea is perfect in the beginning. Perfection is built through execution, feedback, and improvement.
If you wait for the perfect idea, you will never start.
Ideas become strong by taking action and refining them along the way.
The difference between dreamers and builders is simple:
Dreamers chase exciting ideas.
Builders test, evaluate, and improve them.
Few question ask before you finalize the idea
- Do you have the founder markets fit means are you the right person for this idea
- How big is the markets if the markets below billion Doller man you are having wrong idea
- is this a real problem , do people care about the problem ?
- do you have the competition, as i mention have competition is good that means the markets exist
- do you want this or do you personally know anyone want this
- is this problem exiting for longer time or this is recently become popular
- are there good proxys for this business like very large company doing similar thing but not the direct competition
- is this a idea you can work for years means do you have Passione or motivation to do this
- is this a scalable business do not get into a business which is not scalable
- last is this a good idea space
