Startup Ideas & Experiments
Many of us want to run a start-up. If each one of us have an “Eureka” moment and get sharp startup ideas on our own, it’s great. But, in reality, things don’t happen that way. Mostly, we keep searching for good and solid startup business ideas.
3 Key Mantras
Based on quite a few tips around startup ecosystem, there are three key mantras –
- Take Action
- Start Small
- Fail Fast (just in case)
“Take Action” refers to getting into action as soon as possible, instead of just toying around ideas indefinitely. “Start Small” is nothing but building a small prototype/MVP (Minimum Viable Product), so that the product can be tested with the target customers as early as possible. “Fail Fast” emphasizes on rapid progress, so that the feasibility of success or failure can be determined soon – to avoid unnecessary and prolonged investment of time, energy and money.
Startup Idea Experiment
In short, the above three mantras imply – Experiment a startup idea as quickly as possible. What’s the experiment all about? Once you finalize the startup business idea, take the following actions –
- Design the end product with the minimum, basic features. The design can be in a paper, without any major investment. However, the design should be clear enough to state the end product’s value offering.
- Conduct a short survey with prospective customers. Ask a few questions based on your end product’s value offering. The answers will help to validate or refine your design.
- Build MVP (Minimum Viable Product) based on your design
- Take the MVP to a few prospective customers (say, at least 25 prospects) and get their feedback
- Analyse the feedback from the prospects and take decision on next steps (whether to proceed further or drop the idea)
And, you should target to do all the above steps in 100 days. What if your MVP fails? No problem, you would have gained so much of experience with just 100 days of a startup idea experiment.
Starting Point for Startup Idea Experiment
When can one really do the experiment as mentioned above? Only when an almost-concrete “business idea” is nailed down. But, do google searches help you to nail down the startup idea? When you do a google search on “Startup Ideas in India” and go through the result pages, you’ll find many common things across. The key anchors for such articles are Money (that is, the businesses that are poised for considerable profits) and Trends (e.g. Digital Marketing is the new buzzword). Hence, those articles give us only broad pointers. There’re no easy filters for us to move forward in a specific direction. And, in my opinion, such surface-level startup ideas don’t offer enough help to wannabe-entrepreneurs.
In such a scenario, how will it be if you happen to visit a website that talks about specific startup ideas? A place where you can go through a bunch of startup ideas, with a fair amount of details. If the level of details are good enough to make you wear your thinking-hat, you will be energized to dive deeper and take action. Agree? That’s precisely what www.getideas.in does.
The page https://www.getideas.in/startup-ideas/ contains a set of few startup ideas (this list is expected to grow in the coming months). This list – with the level of details – will help you to pick a startup business idea quickly and move on with next steps. I request you to take a look at those startup ideas (no cost associated), give some deep thoughts and come back for a discussion… Looking forward.