I asked myself this question so many times. Thinking of startup ideas is not really helpful, because you are locked in your own world.
You need to find them.
So how do you find these ideas? There are a few sources you can think about.
What are your hobbies? I like startups, programming, gym. I love to do programming in my spare time. I like to read and investigate ideas about startups. Analytics and statistics about startups. So, for example, I can build a project in which I can collect all the information regarding startups and how to make one.
Where do people spend their own money?
You already spend money on your needs. Write all the expenses, each day for a few weeks and see where do you spent a lot and why you do it.
Here is some example:
People like to travel, we spend money on food, buying books. Think about related ideas, how can you combine these niches and make some product on top of it.
Where I am a customer, but I feel like I can do it better in some specific way.
Here is a good one. For example, you don't know where to go on weekends. So you can build a service to find the best places near you to spend a weekend.
Your own problems. Think about your daily activities that you spend most of your time, what tasks cause more pain or takes a lot of time. Saying is more comfortable than making.
So let's start small:
create a simple spreadsheet and write five things you don't like to do or items that can be done quicker or different for the next seven days. Then check if there are any exciting big markets.
Big market players.
Next thing I would check is a big market.
Why? Because they have already been established and you know that there is the money there. So even small companies can snatch a little pie. So take a look at some big companies/products like Wordpress/Shopify in E-commerce. Find out which features are top-rated and then go and read forums/communities/blogs and find pain points in these ecosystems. Find those pain points and try to improve them or create a small product outside of this niche. Or do it in another way, you need to differentiate yourself.
Copy existing products.
Yes! If you are living somewhere in Europe and you see that in China or the US there are a successful product you can copy this model in your country. How to find such products, there are some ways to do so:
- Read Techcrunch and see where people invest their money.
- Check Producthunt and find which products are getting popular.
- Check KickstarterWith CrunchBase, you can select the latest Seed/A rounds in the US in a specific industry for the past six months.
Investigate and read about these niches. Find out how they started, what is their customer acquisition strategy and so on.
Networking with smart people.
I suggest going to networking events and meetups. Why? Because you will learn something new about new things, people's problems and so on communicating with other people. You can share your ideas with them, and you will get feedback immediately. You will become more aware of various industries and their problems, and you can find there a good idea!
Good luck on your journey.