The title here is a bit of a clickbait, so let me give you some more context.
I did startups and raised capital in the past, for more or less 10y, based in the EU.
In most of the past startups, I felt like I wasn't solving real hard problems people knew they had, rather I was building something cool to improve people's lives (selling vitamins, not antibiotics).
This made me feel often miserable despite my product actually being good and people enjoyed using it AFTER they found out how to integrate it into their own lives. The problem is that every single time I had to educate people to learn about the problem they didn't even know they had.
I decided to quit it and take 2 years of mini-retirement to focus on home and growing family (and listening to the IndieHacker podcasts). That was till 2 weeks ago when I decided two weeks ago I wanted back in. (and honestly, I kind of need it, kids can be expensive).
This time will be different I told myself: I'll go full bootstrap, build something of real value, give them something meaningful.
I spent two weeks of mental energy on a b2c-fintech SaaS idea that I know is very useful (since I'm doing it on myself...). But after talking to tens of peers, I realized that none of them didn't know they had a problem. Is one of those things that people tend to postpone thinking about, like death, testament, pension, etc.
I started to doubt everything about my idea, in the fear of falling back into my nightmare of having to spend years educating people before they'd buy into it. Not this time, I know where this leads and I don't want it.
However, as it tends to happen to some of my side-project ideas or startups, some of them are ahead of their time, and sooner or later the time will come (I was selling cold-storage wallets for crypto in 2013, and in 2014 I closed it down because no one was buying anymore. Had I waited 5 more years I'd probably be swimming in cash). Maybe this one here is not in the same category, but still.
So, during these mixed feelings times where I am not convinced about this fintech idea I spent two weeks on, I received the IH newsletter and there is a sentence there that kills it for me and makes me want to drop it:
Solve an existing, real problem
Getting traction quickly is hard, but there are shortcuts. My biggest learning here is this: Don’t try to be unique in the problem that you’re solving. Solve a problem that people have, that they know they have and that they are looking for a solution for. It’s totally fine if it’s already a crowded space. That often just means that it’s a good problem to solve.
Ok, you convinced me. So let's say I drop it and move on. What do I do?
How do I find simple SaaS projects that are not in the categories I usually find myself into (early adopters only, or not-actual-problems) ?? How do I go about finding B2B ideas for instance, after being out of the "normal" workforce for a long time now?
Most of you will be thinking: well, then follow the market trends and try to monetize on them. Well, I have been reading up on the most recent trends, I studied deeply those services that feed me ideas for a monthly fee, and I have to say I am not ready to be the opportunistic eCommerce guy that sells potatoes-milk / THC gummy bears or Air Purifiers.
I know you are not my psychiatrist, but, what should I do with my life? Do you need someone like me?
Cheers
Hey, get feedback on your idea from your target audience before giving up on it. If you don't want to put it out publicly on Reddit or wherever yet, talk privately with people. Feel free to drop me an email (it's
in my bio) and I'll give you my feedback. I've assessed tons of ideas over the years and know the right questions to ask.
hey man, thanks. FYI the email it's not in your IH bio
Oops, didn't realise it was hidden. I've updated it now. Thanks.
hey man, not the OP but would love to share my Beta/MVP with you and hear your thoughts on it if you have a spare minute?
Go for it, email is next to my profile photo on my bio 😊
Hi, first off I don’t have an answer for you, but thanks for posting this. I’ve been going through a similar mental exercise the past couple of days and feeling like I’m at a cross roads. I too am concerned about wasting my time (again) building something people don’t want. It’s tough, my thoughts gravitate towards building product/service the market has already validated. Additionally, while I can’t tell how experienced you are as you alluded to previous startup work, I myself am thinking starting at the beginning of the stair step approach, referring to Rob Walling’s work (https://robwalling.com/2015/03/26/the-stairstep-approach-to-bootstrapping/) , maybe give that a thought?
Good luck!
Raul
woo thanks @rrrrrraul, I'll read up asap ;)
Hey, just want to say that I absolutely understand you. I am also jumping between ideas because most of them don't tick all (or enough) boxes. Either the challenge is too big for an indie guy (e.g. you need funding, multiple people etc.) or it is another "opportunistic" eCommerce-type-of-idea as you said. Nowadays, I am only willing to work on something that I can connect with. I am fortunate enough to have a comfortable well-paid 9-5 that supports my family as well as all my "desires". That means, I am able to focus my energy on things that I have an interest in and that I am passionate about. However, of course there is a high-likelihood that those things not necessarily bring in the big bucks...
For example, with https://missioncontrol.me I am trying to build something which helps people reach their goals. I know, it is a crowded space, it is not necessarily B2B (i.e. less profitable) and the chance of succeeding is not very high. But at least I am having a lot of fun, as well as a sense of purpose and mission.
Instead of changing ideas, I am rather trying to change the "parameters" or characteristics of my ideas. For example, the idea is not "high margin"? Ok, let's see how I can turn it into a higher margin business. For example, by limiting numbers of users but delivering incredible value. It is a crowded space? Ok how can I make it dramatically different from anything that is out there? Etc. etc.
Good luck on your journey!
thanks for sharing. Many startups start with an idea and pivot 1,2...x times before getting it right. Think there are couple of questions to ask:
E.g. I launched manipulist.com few years ago. I know that many people will find it useful but I'm still refining the selling pitch as I think fast text editing is not a thing that people are aware of and would not probably know what to search for.
I think asking feedback is key.
And even if the idea really doesn't work, you have alweays learnt something new you can reuse on your next project!
You are right, the market is too broad: All parents with a kid < 8 y/o.
I had an epiphany and can make a simpler product for European Young Parents with a newborn (< 1y/o) and love for tech ;)
go for it :D