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10 Rules for a Great Startup Idea by Founder & CEO Adeo Ressi , Ideas don’t matter, execution does. But even the world’s best entrepreneur would fail with a fundamentally flawed startup idea. 🔸You are passionate about it If you are pursuing an idea just to make money, then stop right now. The idea must get you excited, keep you up at night, and be something you can see yourself working on for the next 10 years. Being passionate increases your chances of being great, and greatness is the difference that lets you stand out. 🔸It’s simple Businesses don’t fail from execution. They fail from complexity. All the great businesses of our time started with a simple, clear solution to a problem. If you can’t explain your idea in 1 sentence, then you don’t have a simple idea. 🔸One revenue stream A startup should be more than how much money it makes. But you do need at least one way to make money. Too many startups fail because they try to do too many things at once. Start with one customer, one revenue stream, and build from there. 🔸Few steps to revenue How many things need to happen before you make a dollar? Try going through this exercise: Think through the number of user interactions or customer commitments involved with a successful sale. No more than 3 steps to revenue is best. 🔸 You know the customer From the outset, you need to understand: Who are they? What do they really need? Why do people purchase this type of product? And there’s nobody who knows more about the customer than people who previously had the same problem themselves. The most successful startups are founded from personal need. 🔸You know the market How can you possibly have a meaningful opinion on a market if you haven’t worked in it or done real research? If you are not an expert, then get an expert. 🔸Sufficiently large market If your market is too small, then the business will never become big. A startup’s valuation is a multiple of its market size, so if you want to build a $1B company, then you need a $10B market. It’s easier to enter a niche market and expand from there than to enter a small market. 🔸Original secret sauce Is what you are doing unique or better than everybody else? How do you know someone won’t readily copy it? Be bold, because the best ideas are transformational, not incremental. 🔸You have tried to kill it Positive reinforcements are easy to find, but your job is to find the red flags. Your idea should be able to survive honest criticism. The more time you spend researching and iterating, the more likely the product actually can succeed. 🔸You are sharing your idea! The chances that someone is going to steal your idea are minuscule. The more you share your idea, the more you learn. People may point out flaws you haven’t thought of and potentially validate key assumptions. If you find yourself scared to share your idea, then you haven’t done enough research. Want more help on your ideas? ❤️and Follow