How to Find the Right Startup Idea and Achieve Founder-Market Fit

How to Find the Right Startup Idea and Achieve Founder-Market Fit

Selecting the right idea for a startup team is a critical concern for me, as I frequently observe highly competent teams working on unconventional ideas. More often than not, they choose an idea almost randomly, without fully realizing whether it is the most viable option. A few years ago, I decided to address this issue and began organizing small groups for aspiring entrepreneurs, guiding them in the process of discovering and selecting business and startup ideas.

I typically initiate discussions with the question, “Why do you want to launch a startup?” In most cases, people are attempting to escape the monotony of their daily lives, feeling exhausted by the corporate work environment, seeking financial independence, or simply wanting to engage in something exciting. Their friends may have spoken enthusiastically about startups, but they often have no real understanding of the sacrifices required on this journey. For this reason, I frequently dissuade individuals from pursuing startups and instead suggest alternative paths, such as Micro SaaS, private practice, service-based businesses, and similar ventures. After all, one does not necessarily need to start a startup to do what they love and earn a good income.

Step 2: Identifying Personal Interests

At first glance, identifying one’s interests may seem straightforward—“Now that I’m an entrepreneur, I can do whatever I want!” However, this is precisely where many individuals experience mental roadblocks, as they often lack awareness of the full range of opportunities available. Experienced entrepreneurs often tell me, “I’m ready to launch a startup, but I need to ensure it appeals to investors.” In practice, it is more useful to begin by determining what you do not want to pursue. To facilitate this process, I employ the following exercise:

1. Participants review a list of over 170 industries that venture capitalists actively invest in.
2. They rate each industry on a scale from 1 to 5, based on their personal preferences or criteria.
3. We then discuss their selections.

Typically, individuals over the age of 30 narrow their choices down to two or three key industries they find most compelling.

Step 3: Crafting a Comprehensive Résumé

Participants are then asked to write a detailed résumé, addressing the following questions:

• What skills do I possess?
• What do I enjoy doing?
• What do I want to learn?
• What industries am I not interested in?

We then analyze this information to determine how they can maximize the use of their expertise within a startup. According to the Ikigai framework, the intersection of steps 2 and 3 reveals the most suitable direction for an individual.

Step 4: Focusing on a Promising Industry

At this stage, participants begin to concentrate on the industry that interests them most. If the chosen sector is undergoing technological shifts or experiencing emerging trends, new startup opportunities will inevitably arise. While one may ultimately stumble upon an idea by chance, the concept of “controlled serendipity” is crucial. This means that random discoveries can be accelerated through structured efforts.

For example, a specialist who acquires clients primarily through word-of-mouth recommendations finds each customer seemingly by chance. However, this is actually the result of deliberate actions—delivering quality service, asking clients for referrals, and actively promoting their work. Likewise, to identify a viable startup idea, one must cultivate an environment rich in relevant information and industry experts. In such situations, I recommend a combination of market research, trend analysis, and conversations with potential customers and industry professionals.

Expertise vs. Passion in Startup Selection

It is important to remember that launching a startup does not always require prior experience in the field. For example, I know an individual with an extensive background in real estate who chose to develop a startup in thermonuclear fusion technology. Another acquaintance leveraged their legal expertise to create an insurance solution based on satellite imagery. This demonstrates that expertise can be acquired later. At the same time, newcomers often bring fresh perspectives that challenge traditional industry norms. However, mastering a new field typically takes at least six months, which is why starting with consulting or a simpler business model within the industry can be beneficial.

The Final and Most Crucial Step: Passion for the Field

Before committing to a startup, it is essential to determine whether you are genuinely interested in the field. Some industries may seem attractive and full of potential, yet upon deeper involvement, you may find they are entirely unsuitable for you. I have personally experienced this. Seven years ago, I attempted to develop a solution for English language learning. I worked with potential customers in a concierge MVP format, trying to solve their problems. However, within a few weeks, despite recognizing the importance of learning English, I realized that diving into this industry as a startup was not something I truly enjoyed.

Thus, selecting a startup idea is not merely about identifying a business opportunity—it is about aligning your work with your inner needs and personal values.