How to Get and Test Startup Ideas - Michael Seibel

This is a brilliant way to approach building any type of company

STEPS:
(1) Start with a problem (NOT AN IDEA!)
+Do I have a personal connection to the problem?
(2) Brainstorm with friends.
+Essential for recruiting co-founders.
(3) Why are you uniquely qualified to solve this problem?
+Special insight???
(4) MVP.
+Don't fall in love with it; make it 4 learning & feedback.
+Release quickly!
+Fall in love with the problem & the customer, NOT THE SOLUTION.
(5) Initial users.
+Handpicked.
+Problem MUST be SEVERE ENOUGH 2 em 2 an extent of willing to pay 4 the soln, however shitty.

Thanks a lot

From such a theoretical perspective even though he didn’t experience it himself

How to know if your idea will work ?

1. Research.
2. Is there competition in my space?
3. Are my competitors making money?
4. Can I do my idea differently and/or better?
5. What solution can you give your ideal customer?
6. Is there a demand.
7. See what people are searching for online.
8. Get to know your audience.
9. Build a MVP.
10. Crowdfunding.
11. Find a mentor.
12. Check the response of customers/audience by posting coming soon.
13. Get some feedback.
14. How will you market your business?
15. What are your passions ?
16. Turn to social media.

Wow, such a great explanation. Thanks so much

Be one with the problem

Love the problem not the product

This is Goated

good presentation. thanks. Launch MVP within weeks, do not fall in love with it, innovate/pivot, evolve etc.. g1.

How does this work for startups that are by nature not about solving problems but making more recreational or entertaining products?

* Your idea does not have to be great from the start, it can (and probably will) naturally evolve
* Keep a "problems book" instead of "ideas book"
* Personal connection to a problem is very useful
* Have a brainstorm sessions with friends so you can identify potential co-founders, vibe one ideas =)
* Do you have a unique perspective/insight on a problem because of your qualifications/experience? ()
* Build and MVP once you have an idea
* Fall in love with the problem and customer, but not the product.
* Release MVP within a week
* Handpick initial users

Thank you for making these videos.

This is gold. I absolutely loved it!

Thank you. Great information and to the point.

Micheal gives a lot of information in minutes.

what if I have useless friends

I like the quote: "Be in love with your problem." My brother told me that some many ideas fall flat because their creators have a "solution in search of problem."

This is the only channel with no channel logo
This is called quality over quantity.👍🏻👍🏻

what was the problem that justin tv was supposed to solve?

wwooww

SO helpful, loved this. More!

Thank you so much

Thanks for sharing appreciate it ❤️🙏🤘

Online reality show doesn't sound too bad :)

very simply explained. Right attention span. Not too long

Anybody here who'd like to build something together? I've a content, design, marketing and project management background.

AMIT SHAH JI PRANAM 🙌🙌

Thankyou Amit Shah😅👌

Hey you know Justin kan

Thank you for the video. I’d like to know what problem TikTok solving and how to present this problem in presentation for investors?

Awesome advice.

I saw this 6 mins video in my feed and I thought it would be a quick watch... turns out I had to pause every single time and takes notes because of how good the advice was... loved it!

I understand thinking about problems, but what might be the problem justinTV or Twitch solved? Is it thinking about problems or creating a problem to solve? Like i guess you could position twitch and argue it solved a “problem” but was it inherent ? What’s the problem it solved? Lack of viewership? Connectivity between the community?

GOLD🌟🌟

You could also add an additional tip, like creating a page and then sharing it, that way you won't have to re-tell the idea again and again.

Maybe use page builders like GatherThoughts or Wix etc

Thank you 🙏🏻

Thank you for sharing!

He says that now... Twitch didn't start with a problem. What problem does an online reality TV show solve?
If we start with a problem, how will services for frivolous entertainment and leisure be built?

These video essays are literally a goldmine of information

You dont know how much this content worth

Just start the liberal version of Parler lol.

Great advice.

Hope I'll see you across the table one day, thank you for the great advice!

Michael, I was at an Ivy League School Innovation conference. I asked an alum, the President of a pharma company if he had a specific problem. He said absolutely my company has that problem. I asked him "how much does that problem cost your company?" He said " I don't know, but it is a huge number". Imagine what the president tells his board.

I solve technical hardware problems. Unsolved these problems make a huge dent in industry revenue. A minor challenge is funding a demo solution.

Michael how do I convince a uninterested CEO that their costly problem can be solved?

Problem first. Thank you Michael

Michael Seibel has really good insights. Thanks for sharing Michael, you are doing great work.

** Great video! I would like to share with you a template of how you can identify your assumptions (what you and your team believe about the product): "In order for my idea to be successful, the following must be true: I assume that: My customers had X Y Z problem ________ matter to my customers_________ will pay for it". Please let me know what you think?

Such an amazing video, so helpful in clearing my thinking up.