I’m not exactly sure how I stumbled upon Noah Kagan and his work, but I am sure glad I did. This is a guy who was part of the early core team at Facebook before it really really big and has since launched his own multi-million dollar company which he calls the Groupon of software deals; AppSumo.com. I’ve purchased numerous tools from him.
Anyways, I’ve been listening to a number of his podcasts and started taking some notes. Instead of keeping them to myself, I figured I’d share them with you!
Today’s episode was about How to Come Up with a Business Idea. Often times he has a guest to interview, but this podcast was just him sharing his advice and thus I’m sharing with you. I encourage you to check out his podcast and I hope you get something from these notes:
Episode #7. Published on 1/31/17
Before you start doing market research, building a business plan, and setting up an LLC, you need to: Figure out your own pain points where you need help and build a solution for it.
Everything that he built was for problems he needed to be solved
Wantrepreneurs are people who think:
Digital products are easy and will make a lot of money
Take a Udemy course to learn to code and then get an idea make you money
Recurring revenue from a subscription service
The difference between a Wantreprenuer and Noah is that he created a product for himself
He likes chewing gum but was getting bored with the current gum flavors out there so he decided to create new gum flavors
This was a “Shower Thought”
Challenge: Spend today thinking about all of your random business idea thoughts. And it doesn’t matter how dumb it is. Just write them down.
Noah’s 10 ideas/problems that he has right now:
He has a bunch of stuff/junk at his house and needs to sell it. Can you help me sell it?
Different colored socks that make you happy. Yes there are some out there but he doesn’t know their brand.
A matchmaking service for Zoroastrians
SaaS products setup service
Help me spend my money
A clothing shopper
A trip planner. Going to CO for his birthday and wants someone tell me what to do and where to go
Home automation expert. Help me set this crap up
Help me choose my mountain bike
Free new food samples
If you solve one of these, holler at him. podcast@okdork.com
And feel free to leave me a comment with your thoughts or business ideas.
