How did you come up with the idea for your startup?
CEO in Software, 11 - 50 employees
Ideas are cheap; execution is expensive and it's everything. There's a lot of hype around ideas, but it usually starts with a problem you're facing. You’re frustrated with the current situation and you can't find an adequate solution for yourself. Or you see there is a massive need for a change or a market that is prime for disruption, just by being exposed to a certain industry. And disruption happens when there is a massive pain that people are psychologically ready to pay to resolve, plus velocity from a macro trend heading that way. There also needs to be a certain maturity level when it comes to awareness of the problem, as well as the technology to support the solution that you want to create.CEO & Founder in Software, 11 - 50 employees
Your startup idea could come from a few things. One method is to create a clone of an idea that already exists, and for which there's enough demand in the marketplace that you can coexist with other competitors. Not every idea for a startup has to be unique. If you look at software project management tools, there are so many out there, yet I still see ads from monday.com, Asana, etc. Everybody's thriving and getting a billion dollar valuation. The idea can come from a pre-existing market whose size you can capitalize on by improving upon it.The second one is what I call the incremental innovation market: The product exists, but you’ll do it incrementally better than companies that did it previously. You’ll make it a little more glamorous and sell it until you make enough money, get acquired and exit. Then you use the blue ocean strategy, moving from one quadrant to the other to build something innovative. There could be no demand or need for it, but you’re going to create and shape the markets. Steve Jobs has done that tremendously with the iPhone.
Or there could be a huge pain you’ve identified. You see that in the healthcare market: There’s a huge pain for a specific feature, function, or capability, and people are willing to bet on you. They’ll pay for a radically different way of doing things to make their life easier as a consumer. That is where true innovation happens. And it could be a mature market that you’re disrupting, or you could be creating a completely new paradigm for that space.
Director & Head of Engineering in Software, 51 - 200 employees
Try to solve a problem which I experienced and found that others also have the same problemContent you might like
Talent Retention33%
Talent Attraction48%
Upskilling talent to do more with less12%
Efficient Operations / Better Customer Service Delivery6%
Other – please specify0%
216 PARTICIPANTS
We already use a Time-as-a-Service model21%
We would consider a Time-as-a-Service model60%
We would not consider a Time-as-a-Service model19%
130 PARTICIPANTS
CTO in Software, 201 - 500 employees
Without a doubt - Technical Debt! It's a ball and chain that creates an ever increasing drag on any organization, stifles innovation, and prevents transformation.