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Adeo Ressi, CEO of the Founder Institute presents a five step process to develop a great startup idea. The premise is that great ideas are raised rather than born.
• Step 1 – The Seed: Find a passion or pain point as a seed for a bigger idea.
• Step 2 – The Project: Launch a project where you start to collect information and ideas about the potent ial business.
• Step 3 – Quiet Time: Take quiet time to reflect on your projects throughout the day.
• Step 4 – Board of Friends: Develop a Board of Friends to give you honest feedback on the projects.
• Step 5 – Expand: Identify your favorite project and try to expand the scope to make it larger and more meaningful.
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