How to pick an idea and validate it

There are three common ways to come up with an idea:

  1. Market first: Start with a market or space that interests you, then look for a specific problem.
  2. Experience ripe for improvement: Look for areas where you believe there should be a better consumer experience than what currently exists, and iterate from there.
  3. Problem first: Start with a problem you’ve experienced firsthand and figure out if enough other people have the same problem. 

These methods tend to correlate with specific categories of companies:

Source: Todd Jackson – First Round Capital