Product Idea Generation

I want to build a product

As an aspiring bootstrapped entrepreneur, I need to find product ideas that work for me. That means a product:

  • I can build during nights and weekends
  • that requires very little capital
  • in a market I already understand or can quickly learn about
  • where demand exists

My first undertaking as an entrepreneur has been researching product idea generation. Here is a list of methods I found, along with hyperlinks for more information.

Methods for finding product ideas

Look in the Apple App Store for an App that is widely used & sucks. Then make a version that doesn’t suck. Indie Hackers

Look in the Apple App Store for a successful App, implement non-English language version. (same link as previous method) Indie Hackers

Build Browser Extension for your own use, put in Chrome Web Store, charge $2 for pro version. Indie Hackers

Get emailed a product idea every day. Opps Daily and Nugget

“look for problems, preferably problems you have yourself.” Paul Graham

When a popular service like del.icio.us or Google Reader gets shut down, build a replacement service. Example: Pinboard capturing the del.icio.us exodus, and NewsBlur doing the same for Google Reader.

Forget about SAAS recurring revenue, and build a one-time purchase product like a WordPress plugin, Magento add-on, Shopify app, Drupal add-on, Photoshop plugin, or an ebook. Software By Rob and Hacker News

Build an aggregator/scraper of other sites. Indie Hackers

Build cross platform desktop app using Electron, the software Slack uses for their desktop app. Electron and Hacker News

“Fast Follow” an existing SAAS product with an already validated market. Hacker News

“Hipster retro businesses.” Build software for sellers of products like vinyl records, camera film, and magazines.

Next steps

My plan is to find a product idea I can build quickly, since most people don’t succeed on their first try. I will build the product and launch it. That way I can gain experience doing stuff I’ve never done before, like marketing. Hopefully the experience I gain will lead to revenue from a future product.

Do you know any ways to generate product ideas I didn’t mention? Please let me know in the comments!

Advertisements