What’s the best way to know if your idea is a good one?

Sam Altman (President at Y Combinator)
Stupid Apps and Changing the World – Sam Altman

People often accuse people in Silicon Valley of working on things that don’t matter. Often they’re right. But many very important things start out looking as if they don’t matter, and so its a very bad mistake to dismiss everything that looks trivial.

What’s the best way to know if your idea is a good one?

Entreprenuer Media (http://www.entrepreneur.com/)
The Best Ways to Do Market Research for Your Business Plan

1. Who are your customers? Describe them in terms of age, occupation, income, lifestyle, educational attainment, etc. 2. What do they buy now? Describe their buying habits relating to your product or service, including how much they buy, their favored suppliers, the most popular features and the predominant price points. 3. Why do they buy? This is the tricky one, attempting as it does to delve into consumers’ heads. 4. What will make them buy fr… (read more)

What’s the best way to know if your idea is a good one?

Seth Godin (Founder at Yoyodyne Entertainment)
Seth’s Blog: Thinking about business models

A business model is the architecture of a business or project. It has four elements: What compelling reason exists for people to give you money? (or votes or donations) How do you acquire what you’re selling for less than it costs to sell it? Shat structural insulation do you have from relentless commoditization and a price war? How will strangers find out about the business and decide to become customers?

What’s the best way to know if your idea is a good one?

Ben Horowitz (Co-Founder & Partner @ Andreessen Horowitz)
Programming Your Culture – Ben’s Blog

The second thing that any technology startup must do is to take the market. If it’s possible to do something 10X better, it’s also possible that you won’t be the only company to figure that out. Therefore, you must take the market before somebody else does. Very few products are 10X better than the competition, so unseating the new incumbent is much more difficult than unseating the old one.”

What’s the best way to know if your idea is a good one?

Paul Graham (Co-Founder & Partner at Y Combinator)
Startups in 13 Sentences

Understand your users. You can envision the wealth created by a startup as a rectangle, where one side is the number of users and the other is how much you improve their lives. The second dimension is the one you have most control over. And indeed, the growth in the first will be driven by how well you do in the second.