How to Get and Test Startup Ideas - Michael Seibel

Michael Seibel on getting and testing startup ideas.

00:00:52 Start with a Problem
00:01:26 Personal connection is helpful
00:02:07 Brainstorm with Friends
00:02:38 Once You've Found an Interesting Problem
00:02:45 Why Are You Uniquely Qualified to Work on This Problem?
00:03:43 Your MVP
00:04:55 Your Initial Users
00:05:49 In Conclusion
00:06:00 Outro

[braedondavies]

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."

[andriypashynnyk]

* 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

[namangupta]

I personally like these short length videos instead of those 20+ min videos. Just straight to the point. Thanks a lot. 🔥

[wambo]

Love the shorten format! It's always a pleasure to hear Mike discuss the fundamentals. You'd be surprised how often people over complicate things and get them wrong. Keep it up guys!

[DiegoTeliz]

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!

[ahmadqassimomar]

As a young man just starting out on my journey. It is so reassuring to know that this is the way to go about because it's how I have gone about it but wasn't sure I was doing it right. Thank you

[AlexTsyglin]

Notes from the video:

Common misconception - that your idea has to be great

Cofounder justin.tv -> later become twitch (and sold to amazon)

Original Ideas was to create online reality tv show -> now it stream service for gamers

0:53 1.START WITH A PROBLEM
Starting with idea is tricky (сложный)
Because immediately people want to grade your idea

Easier to start with a problem and how you can grade your problem

If you start with a problem - ask yourself: do I have any relationship with this problem personally?

Personal connection to a problem is really helpful for 2 reasons:
1. You can tell whether the solution is in the ballpark of solving the problem
2. When you’re dicouraged, you still have a personal connection to see you through untill you find a solution that does work

I think the better than read the startups books -> read the problem books

Brainstorm with friends:

It’s a perfect time to start thinking how to recruit co-founders

On this brainstorm sessions you can understand with whom you are talk well

Do it with a friends you might want to create a startup with

2:43 2.WHY YOU UNIQUELY QUALIFIED TO WORK ON THIS PROBLEM NOW.
Is there a some angle of the problem, that you think you understand, that other don’t understand
(maby some personal experience with the problem you have)

Look at some other people how tried to solve this problem before -> how they solving the problem now, or how the failed to solve this problem

You can get basic understanding - what other people thought their unique insight was and wether is the same or different than yours.

3:42 3.YOUR MVP (MINIMUM VIABLE PRODUCT)

MVP - it’s a first version of the product that you released and test an idea - is it solve the problem

Most important thing in MVP => Don’t fall in love with it

Because your MVP may not resolve the problem, or resolve it very poorly

And it’s the first step in the learning process - whether the saw problem is solvable

A lot of people fall in love with their product, and not in love with the problem or their customer

Treat your product in a way that it can change, developed or improved

How to not fall in love with initial product -> Release it quickly
Often an MVP can released in day or weeks
It’s not gonna be perfect, and not might be that you are proud of, but it can be beginning of a learning about whether or not you can actually solve the problem

3:45 4.INITIAL USERS
Your initial users should be almost be hand-picked

You should have a strong opinion about who should be your initial customer is

And you shouldn’t try to solve this problem for someone who:
1) isn’t willing to try a startup
2)The problem you are trying to solve is not really important problem in their life

Your goal with MVP is not - how many people will use your product

But to test for ANY GOUP OF YOUR CUSTOMERS is that MVP actually solve thier problem

The best startups is very carefully sort the people who will test their MVP - and make sure that it is a right time of the customers


5:50 IN CONCLUSION
The road map is:
Think about problem -> Brainstorm with friends -> Why you uniquely qualified to work on this problem now -> Build Your first MVP (Don’t fall in love with it) -> Filter users who will test it -> Get feedback and improve your product

[BenWaldeck]

I wish I could like this video more than once.

[richardantao]

These video essays are literally a goldmine of information

[slaveofallah]

When I started my partnership with Gagake Spa Technology, the support I received was thorough and timely. I am really impressed with the kind of service they offer not just to their customers but also to their partners

[gabrielfono]

I dropped my cs major because I felt like i was too much qualified for this major.
I am currently working as full stack dev and working on my startup everyday and hopefully, it will help the entire world 🌎.
Thanks for giving more guidance

[TheLastCodebender]

This is great! Even if you know this, it's always good to get reminders. Thank you for sharing!
One thing that I want to add when you think about problems, is to try to answer the question: What is your life mission?
Answering this question is a game changer, it's what will allow you to go solve a problem you are passionate about, that will help you push through until the end, and minimize your regrets.

[deepaksrinivasmondal]

Such a short video and yet Michael is able to drop some very important information so succinctly! Really appreciate doing this. This is almost like a condensed TLDR of several books on how to start-up.

[gaurgo]

Just want to echo the sentiment -- huge fan of this format (in addition to longer form for deep dives | interviews)!

[accesskeeper]

Thank you Michael, can't wait to see more videos from you!

[FIGured_Out]

Thank you so much Michael, you helped me answer a lot of questions especially with the " why are you qualified question"
I was recently asked by a potential investor.
Thank you so much

[osen]

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

[dejrand]

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

[lightningthought]

The most I like is the way he says the advice in one-to-one way : It is like a confession from a friend.
Regarding the information is like how to not waste time with great ideas without the knowledge of they solve a problem or there are users ( real users : not expectations in your head ) that will like them.

[andreferrer]

Creating a problem book was a groundbreaking idea for me, thanks!