This Week in Startups How to come up with a startup idea (FounderU) + Ask an Angel with Zach Coelius | E1263
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Aug 11, 2021 Zach Coelius, an early-stage startup investor, shares his wealth of knowledge about navigating the startup landscape. He discusses how to generate impactful startup ideas through user feedback and adapting to market needs. Coelius emphasizes the necessity of strong execution, the importance of building prototypes, and learning from customer insights before engaging with investors. He also highlights the role of growth metrics in attracting venture capital and shares strategies for successfully transitioning through startup challenges.
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10x Improvement
- Identify a product you love and strive to make it ten times better, focusing on multiple small improvements.
- Virgin America improved the airline experience through many small enhancements.
Passion-Based Ideas
- Pursue ideas you're passionate about, becoming customer zero and leveraging your deep understanding.
- Be mindful of creating something that appeals to a niche market, like Tesla initially did with the Roadster.
The "Why Now?"
- Consider the "why now?" Identify what technologies make your product possible or cheaper now.
- YouTube's success was enabled by cheaper storage and bandwidth due to cloud computing.