Problems Are Startups Waiting To Happen

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Ideating a new startup begins with a problem.

Here are the steps to ideating your next startup:

Scan the market for problems.

Review the news to find startup ideas.

Review customer reviews of products and services.

Talk with others about the problems they encounter.

Make a list of problems found and categorize them as small annoyances, medium issues, or major problems.

All of the above can be solved with a startup.

Match the solution to the problem.

Small annoyances can often be solved with a mobile phone application.

Medium issues can be solved with service solutions.

Major challenges can be solved with a larger-scale system.

Look for problem-solution fit.

Make sure not to over-engineer the solution, as customers won't be able to afford it.

Take large problems and break them into smaller ones that can be solved more easily.

Consider these steps in finding problems to solve and turning them into startup solutions.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let's go startup something today.

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