Coming up with an idea

-Vidya RamanI turn ideas into products

3 Steps

1. Identify a problem that you or someone else has

2. Come up with a (superior) solution

3. Identify who will use your product or service

1. Start with the problem

• Resist the temptation to dream up ideas. If your idea doesn’t solve a problem, no one will use it

• An idea is just one of many possible solutions to a problem

- example 1: Many different shapes and sizes of torchlights are in the market. Why?

- example 2: A number of stores sell clothes. Why do we need so many?

• Start with problems you have instead

• At the very least, start with problems others have

2. Brainstorm solutions

• Write down all ideas for solving the problem better. Don’t eliminate anything just yet...

• Write down other solutions that exist today and why they suck. These are “Alternatives”.

• Identify why your solution is better than the alternatives. This is your “Unique Value Proposition”.

3. Identify customers

• Talk to people who have the problem that you are trying to solve

• Clearly identify who they are - the goal is to be very specific.

• Not specific: 15 years olds

• Specific: 15 year olds who play violin and live in the US

Distill idea into 1 or 2 sentences

If you came up with multiple solutions, pick one that you like and is superior to the rest. Clarify the problem, solution and who it is for. Examples:

1. For people who forget to turn off lights in their houses, we will create an app that will call their phones and remind them about it. Target customers are families with kids living in urban areas in the US.

2. For students who don’t speak English in other countries, we will offer to teach them English in exchange for being taught a foreign language. Target customers are French and American highschool students studying in public schools.

Additional pointers

Trouble finding an idea (you should really be thinking problem)

• Observe carefully. Watch yourself and others.

• Problems are all around you.

• The world is not going to be the same 20 years from now..so, what problems will you solve?

I don’t have a unique idea

• That’s ok. No, we’re not saying copy someone else’s idea. Look harder to identify a “niche” - a narrow application of the same idea.

• A cell phone was a similar idea to a landline, correct?

• Look at things that adults use that you would improve/change in order to suit kids your age?

• What are some expensive products that you think you can make cheaper?

My idea is not big

• That’s perfectly alright!

• Even Facebook started as a site just for students in Harvard.

My idea is not cool

• If you don’t have the passion for it, don’t work on it

• If you have the passion but others say it is uncool, then you should really consider the idea seriously! Why? There’s a good chance that others won’t compete with you!

I don’t quite know how to solve the problem

• If you have no clue, well, that is a problem. Look for a different problem then

• If you have some idea, say you know you need an app for that or you need to open a store, that is a good start

• Remember, you are not trying to build your idea or business just yet. It is okay to not know everything. It is actually better!

Last word

• In real life, people take years to come up with good ideas.

• Most good ideas come to people when they are working on bad or terrible ideas.

• The key is to work on an idea.

Get working on your idea!