Every successful business began with a simple idea that made a big impact. Investors look for ideas with strong potential to grow and scale.
You can capture their interest by understanding what they want if you have a great idea.
According to Startup Genome, 9 out of 12 startups fail. Based on data from the US Bureau of Labor, approximately 20% of new businesses fail after their first year.
Funding has always been a key issue for startups that want to sustain their growth. Explore practical ways to get startup ideas that stand out. By following these steps, you’ll be on your way to creating a business that investors want to support.
The best startup business ideas are usually problem solvers. Anything that provides a solution to an existing problem will catch attention. You can start by looking at online forums, social media, and anywhere else there are community discussions. Continuous mentions of problems can hint at unmet needs in the market.
Don’t be afraid to niche down to a specific industry and solve a unique problem.
Once you identify a problem, talk to the people affected by it. Conduct market research with surveys and reviews. Gather as much feedback as possible about your entrepreneurship project idea.
Also, look at potential competitors. What are they doing and how can you improve on their solution?
Successful startup business ideas often come from areas of personal expertise. If you have professional skills or knowledge, use them to shape your idea. Your background can give you an edge in creating a better solution.
Getting a startup idea that gets funding may be easier if investors know you have specialized knowledge in your niche. Consider past work experience, hobbies, or specialized knowledge.
New shifts in industries often come when new technologies emerge. Sectors like AI, remote work, and energy alternatives are all gaining interest—and this will affect the startup ecosystem. Growing markets are more likely to secure funding because there is traction.
Look at market reports and industry statistics, and see what your customer base is adopting faster than before. Aligning your idea for a new company with industry trends can make it more appealing to investors. New technologies can also help you solve old problems in a new way.
When you get an idea for a startup, you want to make sure it’s sound before you seek investment. Once you have a business idea to start with, create a basic version of it. This will be your minimum viable product (MVP).
This doesn’t have to be a perfect product, but you should have something users can test and give feedback on. User feedback is a key part of showing investors that you are willing to grow and adapt to what your intended audience wants.
Use that feedback and build on it to improve your solution. If investors see your solution in action, they are more likely to fund it.
When you develop this MVP, think about how you intend to generate revenue. Are you a software company that will depend on tiered subscriptions? Or maybe you want to move away from the subscription model and offer one-time fees.
If you’re selling a physical product that has premium features, how do you intend to get repeat customers if you depend on one-time sales?
Look at different business models and seek out case studies on existing businesses. Start with your competitors and determine if their business model works for you. Then look at other proven paths that can make sure your idea for a new company is lucrative enough to attract funding.
On your journey of entrepreneurship, a project idea can only go so far. You need to work on selling your idea. You might have the perfect solution to a problem, but if investors aren’t convinced it’s a good startup idea, then it won’t get funding. These are important steps to creating a winning pitch:
Break away from the norm. Most startups fail because they lack the resources to grow. Let’s get you in front of people who can make you a success story.
Pitch your idea to investors who can help you grow.
