Startup Success Series: How to Identify a Great Startup Idea
You’re an aspiring entrepreneur who has an innovative, exciting new idea (or 10) you want to turn into your own business. At first, your idea seems bulletproof, flawless and wholly original, but as you start thinking more seriously about making moves and turning thoughts into actions, you begin to question yourself. Is this original? Will it work? Can I turn this great idea into a profitable business?
If you’ve had these thoughts, don’t worry – most founders have. In fact, experienced entrepreneurs spend a considerable amount of effort validating their ideas before investing a significant amount of time, money or people into launching a new venture. Ideas come and go, but what’s important to focus on is the problem you’re solving. Your 10 ideas may turn out to be impossible; economically unviable or logistically unfeasible, but the problem you’re trying to solve with your ideas is the real gold.
This edition of the Startup Success Series will provide advice for first-time founders and early-stage startups on how to validate your idea, identify the problem you’re trying to solve and determine whether you should pursue it. We’ll be welcoming an expert panel with lived experience in validating great startup ideas.