I’ve been asked this a number of times – What is a good idea for a startup?
The simple answer is that there is no single answer. The answer will be different for each individual. Before you find the answer to this question for yourself, ask yourself these questions –
- Why do you want to start a venture?
- What is it that you will achieve from it?
- Is there a problem that you are passionate about solving?
These are some questions you need to answer for yourself. The answer to the first two questions could be about building wealth or value for yourself or for helping others have a better life or anything for that matter. Whatever the answer will be the first step to determining the things you could work on. Then finally you need to find something you are passionate about. Assuming you want to create wealth, there are a thousand different businesses you can do to create wealth but you want to select the one that you will enjoy most because a startup is not a one night stand or a fling, it’s a long term commitment – a marriage. So pick the problem that you shall be passionate about solving and every day when you wake up, you can’t wait to go out there and solve that problem!