Differences

This shows you the differences between two versions of the page.

--- finding-ideas [2024/10/20 19:02] – Ihab Ahmed
+++ finding-ideas [2024/10/23 11:54] (current) – [9. Problem Discovery] Ihab Ahmed
@@ Line 5: / Line 5: @@
 You already have an idea, which is why you've been accepted, congratulations!
-However, you still need to test your idea with customers. We don't know if your idea will succeed, and you don't know either. This slide is designed to help you refine it so that you can pitch it in 30 seconds and be ready to pivot and improve it over time.
+However, you still need to test your idea with customers.
+We don't know if your idea will succeed, and you don't know either.
+This slide is designed to help you refine it so that you can pitch it in 30 seconds and be ready to pivot and improve it over time.
 ===== 1. What's an Idea? =====
-An idea is typically a solution to a problem or need in the market, or an improvement to an existing one. Your idea should address actual customer needs and signal a potential investment opportunity. It must be simple enough to spread and exciting for people to hear. Ideally, the idea should interest you or be something you know your users will benefit from.
+An idea is typically a solution to a problem or need in the market, or an improvement to an existing one.
+Your idea should address actual customer needs and signal a potential investment opportunity.
+It must be simple enough to spread and exciting for people to hear. Ideally, the idea should interest you or be something you know your users will benefit from.
+===== 2. Sources of Ideas =====
+When you're looking for a startup idea, there are a few common places where they usually come from:
+  * You notice a problem in your own life and decide to create a solution for it.
+  * Meeting talented people can lead to brainstorming new business ideas together.
+  * If you have something you're really passionate about, you can turn that into a business.
+  * If you've worked in a certain field for a while, you might see gaps that you could address.
+  * You explore different ideas, do some research, and pick one that you believe can work.
+===== 3. Frameworks =====
+Some helpful frameworks for coming up with startup ideas:
+  *     SWOT Analysis: This helps you look at the strengths, weaknesses, opportunities, and threats of other companies to learn from them.
+  * Jobs-to-be-Done Framework: This is about understanding what customers want to achieve and how your product can help them get there.
+  * Observation of Audiences: Pay attention to potential customers and see where there are gaps in the market that you can fill.
+===== 4. Refining Your Idea =====
+Before you move forward, refining your idea is essential to make it clear and complete. Use tools you may already know, such as the:
+  * Five Ws
+  * SMART Criteria
+  * Mind Mapping
+  * Etc
+These basic tools help you effectively communicate your solution so that people are interested in hearing it. The clearer your idea, the easier it will be to market it and develop it over time.
+===== 5. Common Mistakes =====
+There are some common mistakes to watch out for:
+  * Focus on solving real problems.
+  * You don’t need a perfect idea to start.
+  * Avoid SISP, "[[https://www.ycombinator.com/library/8g-how-to-get-startup-ideas|Solution In Search of a Problem]]"
+  * Don’t think all the good ideas are taken.
+===== 6. Developing Your Idea Over Time =====
+Any idea is just the beginning, around 1% of the project. To grow that percentage, you need to write it down, refine it, and test it.
+Start by breaking it down into smaller parts, test it with real customers, and gather feedback.
+Also to think differently and expand your startup idea, consider using creative tools like the [[https://diy-toolkit.org/tools/fast-idea-generator/|Fast Idea Generator]] to brainstorm new possibilities or Lean Canvas to outline key assumption.
+===== 7. Testing Your Idea =====
+To test your idea, create a simplified model of it and try to sell it.
+Talk to potential buyers to understand what part of the idea matters most to them.
+If they show interest in your prototype, that’s a good sign to move forward with the full implementation.
+You might also find the [[https://diy-toolkit.org/tools/interview-guide/|Interview Guide]] interesting for conducting interviews to gather inputs or test your prototype.
+===== 8. Ensuring Market Fit =====
+For a startup idea to succeed, it's not enough to simply solve a problem; you also need to ensure there's a clear market for your solution. Consider the following questions:
-===== 2. Refining Your Idea =====
+  * How does your experience align with the target market?
+  * What key metrics will you track for [[AARRR]]?
+  * What unique innovations does your solution offer?
-Before you move forward, refining your idea is essential to make it clear and complete. Use tools you may already know, such as the "Five Ws," "SMART Criteria," "Mind Mapping," "Customer Empathy Map," or "Value Proposition Canvas." These tools help you effectively communicate your solution so that people are interested in hearing it. The clearer your idea, the easier it will be to market it and develop it over time.
+By answering these questions, you can ensure your idea is feasible and ready for the market.
-===== 3. Developing Your Idea Over Time =====
+===== Example: Story of Market Fit =====
-Any idea is just the beginning, around 1% of the project. To grow that percentage, you need to write it down and refine it. Start by breaking it down into smaller parts, test it with real customers, and gather feedback. This ongoing development will help you add more details and improve your solution.
+Finding product-market fit can be challenging for any startup. One startup began with a basic idea but faced hurdles when external factors limited their growth. To adapt, they developed a simple solution that attracted initial users but struggled to scale.
-===== 4. Testing Your Idea =====
+Recognizing the need for change, they shifted their approach to a more user-friendly platform, which helped them gain traction, but they still faced tough competition from established players. Later, they introduced new features to retain their users and saw an increase in engagement.
-To test your idea, create a simplified model of it and try to sell it. Talk to potential buyers to understand what part of the idea matters most to them. If they show interest in your prototype, that’s a good sign to move forward with the full implementation.
+Realizing the potential in serving businesses, they refocused their efforts and achieved significant growth.
-===== 5. Ensuring Market Fit =====
+===== 9. Problem Discovery =====
-For a startup idea to succeed, it's not enough to simply solve a problem, you also need to ensure there's a clear market for your solution. Ask yourself the following questions:
+There are effective methods to help you uncover the problems:
-  * What specific problem are you solving?
+  * [[Design Thinking]] helps create user-centered innovation through empathy, ideation, and iteration.
-  * How does your solution address this problem?
+  * The [[https://diy-toolkit.org/tools/causes-diagram/|Causes Diagram]] is useful for breaking down complex issues into root causes.
-  * Are there existing competitors, and what makes your solution stand out from theirs?
+  * [[https://diy-toolkit.org/tools/shadowing/|Shadowing]] allows you to observe users in their daily lives to uncover unspoken challenges.
+  * Use [[https://diy-toolkit.org/tools/problem-definition/|Problem Definition]] to clearly articulate key issues and stay focused on the right problems.
-Answering these questions will help ensure your idea is feasible and ready for the market. You can use tools like the "Lean Canvas" to outline key assumptions, the "Business Model Canvas" to visualize and test your business model, or others such as the "Customer Journey Map," "Jobs to be Done (JTBD)," or "AAARR," which we highly recommend.
+Please use only the tools that helps you and you find interesting.