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Startup Notes: How to Evaluate Startup Ideas

Abhinav Reddy - Apr 2, 2021

Created - Mar 27, 2021

Coming up with startup ideas is easy. Evaluating ideas, is somewhat more tricky. Thankfully, YCombinator has an excellent video by Kevin Hale, partner at YCombinator, and former founder of Wufoo, an early no-code startup to walk us through how to think about startup ideas.

 

  • Startup = Growth 🚀 (2:55)
  • Investors are interested in ideas that can grow quickly (3:20)
  • Your startup idea is a hypothesis of an idea that can grow quickly (5:15)
  • There are the questions you need to answer about your startup
    1. What problem are you solving? (6:55)
    2. What is your solution to this problem? (10:55)
    3. What key insights do you have? (12:35)
  • A good problem to solve is one that is popular, growing, urgent, mandatory, and/or frequent
  • A good solution is one that solves your problem, and fits with your key insight
  • A good key insight is one that will give you an unfair advantage, and ability to grow quickly
    • An unfair advantage might be a technology, individual brandname, or legal status

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Abhinav Reddy

"It is always impossible, until it is done" - Nelson, Mandela