Idea to Startup cover image

Idea to Startup

How to Identify and Kill Bad Startup Ideas Masquerading As Good Ones

Sep 13, 2023
23:15
Snipd AI
Identifying and eliminating bad startup ideas is crucial. A framework with three pillars is presented: evaluating real risks, predicting organic growth potential, and converting early customers. An AI solution for improving communication and customer interactions in the service industry is proposed. Understanding and addressing risks is important, as well as starting with a specific problem to propel your business. Ethnographic research helps in understanding the customer experience and identifying problems.
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Podcast summary created with Snipd AI

Quick takeaways

  • Identify and address the biggest risks from the customers' perspective to turn them into strengths for your startup.
  • Target processes rated 4 or lower to offer significant improvements and motivate customers to adopt your solution.

Deep dives

Identifying and Flipping the Core Risk for Customers

Entrepreneurs need to view risks from the customers' perspective to understand their biggest obstacles. By addressing and flipping these risks, businesses can turn them into strengths. Customers are more willing to try something different if it helps them overcome urgent problems. Plus, businesses should call out the perceived risk and provide counterintuitive explanations for why their approach is less risky and more advantageous.

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