How To Start a Business Without a Good Idea

You may not have a good idea, but you've got problems
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In episode 5.3 of The Startup Show, we dive into how to do startup without having a good idea, a question posed by one of our members at teachingstartup.com. Current entrepreneurs Joe Procopio (Automated Insights, ExitEvent), Andy Roth (RocketBolt), and Jon Colgan (Veeto, Cellbreaker) talk about how get started without an idea, how to generate good startup ideas, brilliant ideas that don't make money, why your first idea won't be your best, and alternatives to starting your own company right away.

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This question came to us via the Talk networking section on TeachingStartup.com. We got a great question from a wanna-be entrepreneur.

I just lost my job. I love everything about starting my own business and I think I'd be very, very good at it. One small problem, I don't have an idea. Nothing. I've been brainstorming for a few weeks now in between looking for jobs, and I can't come up with anything I'd put my time into. What do I do?

All entrepreneurs have a tough time coming up with the right idea. Entrepreneurs usually come up with a dozen ideas a day, but finding and diving in on and executing on the RIGHT idea is what separates a successful entrepreneur from a hobbyist or a dreamer.

Being an entrepreneur doesn't necessarily mean building on your own personal idea. You also may not have an idea, but you've got problems. We've all got problems. And being an entrepreneur is about finding new ways to solve these problems -- ways that people will part with their hard-earned cash to pay for.

Honestly, what does an idea mean? Is it an invention that changes the world and requires millions of dollars and a Super Bowl commercial (looking at you, Shark Tank)? Is it just inspiration to a plan of action? Is it the thing you build your success on, or does that come later?

The fact is entrepreneurs don't need to start a certain kind of business, they just need to apply entrepreneurial concepts to whatever business they start (or join), and do it better than everyone else. It's not about revolution, it's about evolution.

This is what we talk about in the episode, with three distinct answers to this wanna-be entrepreneur question and how to get started on each of them. Join us and maybe provide your own.


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