Summarize of
This 《How to brainstorm great business ideas》 text by Courtland Allen provides a framework for brainstorming great business ideas. The key points are as follows:
The Basics: A business idea comprises the problem you’re solving, distribution channels, monetization model, and the product itself. Success requires strength in all these areas.
Problem First, Solution Last: Start with the problem, not the solution, as it’s the most flexible aspect. Focus on identifying a good problem to solve.
What Makes for a Good Problem?: A good problem is one many people have, ideally a named group. It should be growing, frequent, and valuable, with people willing to pay to solve it.
Finding a Problem: Be proactive in brainstorming. Look at your own life, interests, and trends. Recognize a good problem when you see one.
Avoid Fatal Mistakes: Don’t start with a predetermined solution, rule out solved problems, avoid low-value problems, and have a specific customer in mind.
Don’t Skip Distribution: Distribution is crucial; don’t leave it to luck. Consider various channels to reach your customers effectively.
Think About Channels: Investigate traction channels like SEO, press, content marketing, social media, sales, and partnerships. Start with 1-on-1 outreach.
Boring Problems, Innovative Solutions: Don’t copy competitors; innovate. Tailor your solution to customers’ unique needs for product-market fit.
Start Small: Begin with small steps, accrue small wins, and build from there. Avoid trying to start too big. Charge more for your product.
Putting It All Together: Idea validation requires talking to people and possibly releasing a product. Use the framework to analyze successful companies.
Courtland Allen’s advice emphasizes the importance of problem-solving, customer focus, and thoughtful planning in developing successful business ideas.