Start by Thinking of Problems, Not Startup Ideas - Jason & Michael Seibel

Summary

In this transcript, the speaker advises aspiring founders to focus on solving real problems rather than jumping straight to startup ideas. Emphasizing the importance of understanding the problem, the speaker suggests that personal experience with a problem offers a stronger foundation for innovation. Founders should avoid making assumptions about problems they don't fully understand and prioritize research. Ultimately, the speaker highlights that success comes from truly solving a problem, whether or not the initial idea seems perfect, and stresses the need for adaptability and execution over rigid opinions about product design.

Takeaways

• 😀 Start with identifying a problem, not a startup idea. This helps focus on the real issue rather than superficial concepts like uniqueness or creativity.
• 😀 Focus on solving a problem you personally understand. It’s easier to trust your instincts and build a product that resonates with real users.
• 😀 If you choose a problem you don't have personal experience with, be cautious of fake insights and assumptions. Research is crucial in this scenario.
• 😀 You can be your first user when solving a problem you understand, which allows you to test your ideas effectively before scaling.
• 😀 Don’t underestimate your own past struggles. Often, personal experiences from childhood or school can spark valuable startup ideas.
• 😀 Don’t rush to pivot away from an idea just because it seems hard. Solving a familiar problem can provide an easier starting point for your business.
• 😀 It’s common for founders to avoid working on problems they know well, thinking they might be too difficult to solve. In reality, they are often easier to tackle than unknown problems.
• 😀 Be open-minded when researching problems you don't understand. Your inexperience can lead you to falsely see patterns or create insights based on little data.
• 😀 Avoid obsessing over the details of how the product should work if you're unfamiliar with the problem you're solving. Focus on solving the user's core need.
• 😀 The key to success is flexibility. Don't get too caught up in personal preferences about product features if they don’t align with the user’s needs.

Q & A

What should founders focus on when starting a startup?

Founders should start by focusing on identifying a real problem rather than immediately jumping to the startup idea. This helps ensure that the product addresses a genuine need.

Why is it important to focus on a problem instead of a startup idea?

Focusing on a problem allows founders to approach the issue more realistically and ensures they’re solving something meaningful. Thinking about an idea first often leads to distractions such as trying to make it unique or creative, rather than addressing an actual user need.

Should founders always work on problems they have personal experience with?

Not necessarily. While personal experience with a problem can be beneficial, it's not a requirement. Founders can work on problems they don't have direct experience with, but they need to conduct extensive research and remain open-minded.

What is the risk of working on a problem that you don't understand?

The risk is that the problem might not exist in the way you think, leading to misguided solutions. Founders can also fall into the trap of creating fake insights based on incomplete or inaccurate research.

What is the difference between execution risk and product risk?

Execution risk involves solving a known problem, but the challenge lies in building an effective solution. Product risk, on the other hand, arises when the problem itself is unclear, and there's uncertainty about whether anyone actually needs or wants a solution.

How can founders manage the risk of working on a problem they don't fully understand?

Founders should conduct thorough research and avoid bringing too many preconceived notions or assumptions into the process. They need to remain flexible and open to adjusting their approach based on what they learn from users.

Why is it crucial for founders to be flexible when developing solutions for problems they don’t understand?

Being flexible allows founders to create solutions that better meet the actual needs of users. If they insist on solving the problem in a way they personally prefer, it can lead to an ineffective product that doesn’t solve the users' real issues.

What are some challenges founders face when solving problems they lack personal experience with?

Founders may struggle with understanding the problem in-depth, resulting in a product that doesn’t adequately address the users' needs. They also risk creating solutions based on assumptions or limited research, which can lead to failure.

What is the importance of personal experience when building an MVP (Minimum Viable Product)?

Personal experience allows founders to act as their own first user, which helps ensure that the MVP is something they would actually use and that it solves the problem they are trying to address.

How should founders approach building a product for a problem they don’t have personal experience with?

Founders should invest in deep research to understand the problem, avoid relying on assumptions, and create an MVP that is tested by real users to ensure it meets their needs.