MEPX
Chapter 1 of 10All chapters
  1. 1Ideas
  2. 2Testing the idea
  3. 3Talking to customers
  4. 4Building the first version
  5. 5Product-market fit
  6. 6Funding
  7. 7Runway and burn
  8. 8Founders and early team
  9. 9Growth
  10. 10An honest picture

Chapter 1 of 10

Ideas

The least valuable part.

Problems over ideas

Start from a problem you have seen closely rather than an idea you find exciting. Execution and understanding the customer are where the difficulty lives, not in the concept.

  • Ideas are cheap and everyone has them; almost nobody tests them.
  • Founder-market fit means knowing the customers and the small obstacles already.

Timing

Many failed ideas were simply early. Ask why now: what changed in technology, cost, regulation or behaviour that makes this possible today and not five years ago.