What would you pay for that nobody's built yet?
Interested in what's actually worth money to people vs what just sounds useful.
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Based on the most helpful WSO content, here are some insights into what people might pay for that hasn't been built yet:
Solutions to Real Problems: Products or services that solve a tangible, pressing issue tend to have the most value. For example, a startup idea mentioned in the WSO threads focuses on creating a trading exchange that addresses inefficiencies in the current regulatory and brokerage models. This type of innovation targets a specific gap in the market, making it inherently valuable.
Prototypes That Outperform Alternatives: A recurring theme is the importance of building a prototype or demo that does one thing significantly better than existing solutions. This approach not only attracts attention but also demonstrates the potential for scalability and profitability.
Unique and High-Margin Experiences: While scaled businesses dominate, there’s also demand for high-margin, unique client experiences. However, combining scale with uniqueness is challenging and often unsustainable, so focusing on one aspect is key.
Incremental Improvements: Engineers and innovators often emphasize the value of incremental improvements to existing solutions. Even small enhancements can create significant value if they address inefficiencies or improve user experience.
Big Market Opportunities (TAM): Products or services targeting a large Total Addressable Market (TAM) are inherently attractive. For instance, the trading exchange idea mentioned in the threads highlights a $20 billion/year TAM, making it a compelling opportunity for investors.
Idea Generation and Testing: Writing down 10 ideas daily, as suggested in one thread, can help identify gaps in the market. Micro-testing these ideas through small, quick wins can validate their potential before scaling.
Ultimately, the key is to focus on execution rather than just the idea itself. As one WSO thread emphasizes, "Your idea has almost no value. Execution is everything."
Sources: VC startup idea - PE or VC interest? Are these numbers viable?, How various professionals see the world, Bootstrapped Entrepreneur Netting 7 Figures @ 25 - Q&A, What is the secret sauce? Feel like I don't know anything, Idea Generation... and Why Wall Street Sucks at It
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