Look around and find a problem

What makes you annoying and frustrated. I have an issue other people have it too and they all want to get rid of it.

Uber is a great example of it. It was really difficult to find a cab when needed and people had suffered from unreasonable pricing as well. Uber analysed the problem provided with a solution where people can book a cab using their cell phone and get the price on their screen. This brings down all the hustle that people had to deal with before. Today Uber is the World's Leading Companies.

Another great example is OYO rooms, Ritesh Aggarwal, Founder and CEO of OYO found out that people find it really difficult to Book a Hotel room and often there are no proper services. With OYO he standardised the hotels and gave them branding which led to an increase in the Revenue by around 80%. Today OYO is a Unicorn startup and World’s Top 10 Hotels Chain.

One needs to trace our answers to certain questions before actually starting with the formation of an idea.

What education do you have? What is your sphere of expertise? Initially interrogating the inner self is a must to get your business going.

Don’t forget to bring light upon the identification of an industry that fits into your talent space and more importantly that will satisfy your wants

Write down about you care about

Once the self-evaluation stage is passed out, list down all the ideas running in your mind. Choose only the ideas you like. Don’t follow the herd, create your own path.

Analysis of the Trends

Take the time, go to the library, read books, newspaper, suffer the internet and research thoroughly on each and every idea that brainstormed with you. Since timing places a crucial role in startup success rate, keeping yourself up to date with the latest trends in business and technology would be a great idea

Apply the well-known business model to other industry

Find some successful business model and try to apply the idea in some other industry.

E.g. Make an Producthunt for X, Make a DoorDash for Y, Ola for Z. You got the point.

Hear people’s problem

Keep the focus on the target markets and accordingly analyse the best-needed idea of time. Find a problem to solve.
The Discovery of a niche market and moulding their desires into a product is the best path to success in business.

The best way to discover people problems that are faced by the people to go on Voxup problems page and takes first-mover advantage from a wide array of categories that you are interested in.

Create the extraordinary

You don’t have to come up with something new altogether every time, you can make improvement in existing businesses in the market and launch your own startup

Work with existing startups

If you can have an idea which can help businesses already in the market to grow, don’t let that opportunity go. Find the problem that companies face on a regular basis and provide an aid to this.
To find those problems, you can go on Linkedin or on our website where People write problems.

Surveys are a good start

Understanding the industry needs is a very crucial step.
It has been rightly said that consumers are drivers of a business, and therefore taking account of their individual preferences is very important.

Get validation

Write the Context of your idea here and then get feedback right away from people, that would help in getting the Validation done

Ask an expert

For an expert opinion, reach out to an investor through their email or on social media. I have messaged Garry Tan, co-founder @ Initialized Capital & partner @ Y combinator on Instagram and he has replied to me and gave me advice about a startup idea.

We have a compiled a list of 50 investors to whom you can pitch your idea. Find the link to attached list here.

Cognizance about consumer needs and then building a product to meet them will definitely make the success knock the door of your enterprise.

Build a team

It is a good time to build a team. For that ask your friend or family member to get involved in the startup. You can also find team members through LinkedIn or collaborate with people working on the same idea.

While scrutinizing your ideas this way, you will certainly encounter the best start-up idea that does fulfil market needs and add value to society at large.
At the end don’t forget to stay aligned with what you enjoy the most, what will ultimately satisfy your personal obligations.