There are 3 million nurses in the US to keep up with demand. 100,000 nurses left the field after 2020 due to understaffing. 11% of total US employment is related to agriculture and food. Each year, 10,000 electricians retire and 7,000 join the industry.
Today, we talk through four characteristics of great startup ideas (with a bonus fifth Brian thought of post-recording). We discuss organic growth, market innovation vs. product innovation, growing markets, product swaps, and happiness. The goal of this episode is to help shape fuzzy ideas and give you new ideas.
1:27 The Personal Venn Diagram
5:18 Smooth Jazz
5:46 The Four Characteristics of Great Startup Ideas
6:48 Characteristic 1: Potential for Organic Growth
9:14 Characteristic 2: Market Innovation > Product Innovation
10:57 Characteristic 3: Prioritizing Around a Growing Market
12:40 Four Buckets of Market Growth
12:45 Hype Markets
13:36 Dig out of a Hole Market (nurses, agriculture, skilled trades)
16:23 Momentum Markets
16:56 Subsidized Growth
17:42 The Swap
21:19 On Happiness