Even before putting up mock landing pages and buying traffic to see how it converts, how do you first filter your ideas and decide which one to pursue?<p>I have a business idea like every other week and I apply this quick 3 question test to see if I should spend more time research it or not.<p>1. Do I feel the pain of the problem myself?<p>2. Is this a universal problem?<p>3. Am I able to solve this problem?<p>Interested to see your versions of a litmus test. Would also be great to get feedback just in case I've missed an important question.<p>P.S I wrote more about my thinking at my blog pragmaticstartup.tumblr.com
Apart from litmus test, do due diligence:<p>> Who else claims to solve the same problem? Examine them.<p>> How do those people who are unaware of specific solutions to the problem solve it?<p>> In theory is it easier to implement your solution, or to upgrade an existing solution?<p>> What are related problems?<p>> What's your user acquisition plan? (TechCrunch is not)<p>> Talk about your idea, both other developers and normal people.
For me the first question is usually enough, with the power of statistics I know that if I have this problem somebody else should have too and be aware of that fact.<p>The trick here is make the rest of the market that isn't aware of the problem, aware of it.
I usually make a spreadsheet to figure out if I can make any money on it and the adjust the prices and customer numbers and marketing cost until I figure out if it's worth while to invest additional time.