Ask HN: How to find a viable business idea? - jessmc
======
carlotapia
Start with the problem you are going to solve:

What is the problem?

Who experiences this problem and how often do they experience it?

Is the problem painful enough that people will pay for it?

How many of those people are able to pay, and how much are they willing to
pay?

How are they currently solving this problem?

How much will it cost you to solve this problem? What is the potential revenue
opportunity?

Example of a viable, stable business - locksmithing:

What is the problem? People get locked out of their homes, businesses, and
cars.

Who experiences this problem and how often do they experience it? Most adults
that own a home, business, or car will experience this once every six months
or year.

Is this problem painful enough that people will pay for it? Yes.

How many of those people are able to pay, and how much are they willing to
pay? Most working adults are able and willing to pay $100 to get into their
home or car, especially if they are in a rush.

How are they currently solving this problem? Spare keys, friends and family
with keys, AAA / tow companies, etc.

How much will it cost you to solve this problem? What is the potential revenue
opportunity? Basic home locksmithing tools, certification, uniforms,
insurance, business license, local advertising may cost a few thousand
dollars, so breakeven might be 3-6 months.

------
crsv
There's a bunch of ambiguity encoded in to the term "viable" here. The number
of viable businesses is almost infinite. Maybe think about restructuring the
question with some contexts around that viability in terms of size, area of
focus, type, etc, since this will inform the answer to the question heavily.

------
rdsbrar
Focus all your energy on thinking sales: what can you sell, what're people
looking to buy, distribution, sale cycle, are people actively buying, what
will it take to sell, talk to the potential buyers. Then think who are you
going to displace and how you will differentiate yourself.

