Startup Funding Espresso Signs of a Bad Startup Idea
Signs of a Bad Startup Idea Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. In reviewing startup ideas for your business here is a list of signs pointing to bad ideas: You know absolutely nothing about the market, product, or community. While great startups come out of new domains, it\u2019s helpful to have some experience with the space. You spread yourself across too many ideas and don\u2019t gain depth on any one of them. It\u2019s important to prioritize and go in-depth on one idea at a time. You choose an idea for which you are not a good fit. Look for ideas that match your skills and interests. There\u2019s no business to be had but only work to be done. There are many socially conscious ideas but in the end, it must be run as a business with revenues and profits. The idea is hard to explain. You must be able to craft a story around it to sell it. Your idea requires customers to change their behavior. Changing behavior is hard. Your idea must generate a very high return to achieve behavior change as it will take substantial time. You are mostly guessing about the market and customers and have not actually engaged with either. It\u2019s important to talk to customers and spend time in the market to understand how it really works. Ask yourself how many of these apply to your startup idea and eliminate those from your list. \xa0 Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.Let\u2019s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0\xa0 For Feedback please contact info@tencapital.group\xa0\xa0\xa0 Please , share, and leave a review. Music courtesy of .