If you are thinking of starting a start-up, you may want to know if your idea will make money and if it worth your energy and time. Here are some tips to help you pick the right start-up idea.
Make something difficult easy – People are often busy and have less and less time to spend on their daily activities. Your idea should make your clients life a lot easier while providing them a product or service that would be otherwise difficult for them to make.
Make something expensive cheap – Technology or a product that makes something more affordable is something customers will be interested in buying.
Make something that entertains – As more people want to relax, products or services that include music, gaming, video, and media for entertainment purposes are a good investment.
A small market size – If you are looking at a niche market, look at making a few customers exceptionally happy.
Commerce ideas are very different from social software – Social software will rely on word of mouth and virality, while commerce businesses sell lifetime values and will be best advertised using traditional advertising methods.
Empathize with your users – Providing a product or service that will help your users and yourself in life is a good idea for a start-up as you can relate to the product or service offered.
Keep a journal – An old-school journal will always help you jot down your thoughts when you have them. Look at a journal that is small enough for you to carry around anywhere.