What are your various sources to get the best startup ideas? Where does it come from the market gap, unorganized market structure, etc?
Now let's assume there are a bunch of ideas that may be going on in your mind now which the best startup idea you should choose & why?
Have you ever think that the idea which is going into your mind is where it comes from?
Ok let's do one thing forget whatever is going in your mind and whatever idea your thinking, just forget about all things for a while, and let's see how to get the best one idea among all & how to check it’s gonna market fit or not??
First of all, maybe you have read “Scratch your own itch” a famous line of “Rework” book just start finding what is the problem you are facing or have you ever faced the only problem in your life which had made you think or you can go with things related to your passion or hobbies.
If you are facing any problem or you have faced any of now think about that how can you solve it but, but, but, but, now before this you must also check the problem you are facing is the faced by so many people or not or it is only faced by you if it is faced by so many people you can get best from them. This is how you get startup ideas.
Let's take an eg;
You like to play cricket but you are not a professional cricketer your hobby & passion is to play cricket but by playing cricket or if it is your hobby or passion only you can make a business of course not you can be a good cricketer, can be a professional cricketer like Sachin, Virat, Mahi, etc. but how will you make b/s out of this??
But suppose you haven’t found any bat or ball whom you say wow, here no matter whether you are a professional cricketer or it is your hobby to play cricket but have you faced this problem now, here can be the opportunity to make a business lets understand how,
Now,
You think like you are facing this issue, so most of the professional cricketer or a Ranji player or trainee, etc. faced this in a similar way like you do, you start working on this and you try to find out how can you make a perfect bat according to the need & requirement of players same goes with the ball. Here you feel the pain because playing cricket is also related to your hobbies & passion.
By solving this problem you can make a million-dollar business out of it, but here you already know cricket is like a religion in this country (India) and also placed most of the countries but what happens if you don’t know about the market size of this or if you start solving that problem which has not faced by many or not has enough market size or your product is not market fit may not fulfilling the consumer need.
So you have to evaluate here what is the market size of the problem you are solving or whether the customer needs it or not if you have understood this it will easy to go with it otherwise it’ll take your time, some amount of money, patience, etc. Evaluate the market size, customer need, etc. We’ll also know to learn about these later. This is how you get startup ideas to start.
Suppose you haven’t faced any problem in your life, you haven’t found any itch of your own, let's start with the problem faced by your family, friends, colleague, neighbor, or you have seen in society, city, country, etc. This may be like ‘shoot in the dark but it can also work if you work on it by evaluating all the factors,
Let's take some eg:-
One of the latest startups is “Sanfe”, India’s revolutionary feminine hygiene and period care brand that strives to build a better world for women. “Sanfe” founded by two friends of IIT the product based on feminine hygiene the problem faced by one of his friends, the problem is this not faced by their own but related to others and also maybe faced by most of the women earlier, but it was on a large scale faced by many women, so they take a step and launch it, you can imagine the result.
These types of startup ideas are related to the problem you can get anyone among them after funding such problems faced by people.
Maybe you haven’t found any problem of your own, or you haven’t seen any among your friends, college, organization, where you’re working, etc.
“No need to worry”
You are even blessed because you are in a developing country like India because still, it is un-structured, un-organized you can also make a business opportunity out of this.
Let's take an eg,
Before OYO Rooms & Hotels, different hotels were running by different names in a country.
Sea View Hotel.
Grand Plaza Hotel.
Paramount Hotel, etc.
Now, what Oyo did here, they bring them all together with a single name OYO Rooms.
Now they created uniformity at a cheap affordable price, this creates a different perspective in a consumer mentality, and the customer likes it they recognize it by an OYO Rooms, now they go for a booking a hotel in any part of a country or the world by keeping in the mind OYO Rooms & Hotels. These types of startup ideas are found in unstructured markets.
