THINKING – Sprint 2
How to find good startup ideas
The reason for this sprint
This sprint focuses on coaching you to find an exciting idea or figuring out if an idea that you have been thinking about is worth spending time developing further.
The key to understanding how good an idea is requires you to understand The Fundamental Principle of Entrepreneurship: All successful entrepreneurs make some group of people so happy that they will gladly give them money in return.
Armed with this understanding you can use it to assess how to make any idea more valuable, valuable enough that it could be worthwhile for you to pursue.
If you already have an idea that you are excited about, then you can skip to sprint 3 … but most ideas do not work, so sprint 3 may send you back here.
Note that this sprint and all our sprints apply equally to for-profit and non-profit ideas.
Sprint exercise
In this article we describe The Fundamental Principle of Entrepreneurship and how to use.
With this understanding we ask you to answer these 9 questions:
What group of people do you plan to make happy?
Why do you think that?
How happy can you make this group?
Why do you think that?
What exactly would you be doing to create this happiness?
What will other people need to do to help enable you to do this?
Where and how will you find these other people to help you?
How much will this group gladly pay for your product or service?
Why do you think that?
It’s okay not to be certain about your answers, but do not waste your money implementing anything until you can. No entrepreneur’s idea is perfect out of the box.
We will help you refine and test your idea in sprints 3 through 6.