Changing your business idea

March 22, 2024

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Welcome to Startup Strategist by stratup.ai. It's Friday, and today we have two news stories and two resources for you.

Estimated read time: 3-5 minutes

  • News stories: (1) “More funding goes to fighting disinformation (Crunchbase)” (2) “With backing from NATO innovation fund, OTB Ventures to invest $185M into European Deeptech” (TechCrunch)

  • Startup info: Changing your business idea

  • Resources: (1) What is -1 to 0? A Philosophy of Ideation. (2) MFM Podcast - Jason Fried

  • StratupAI Generated Idea: Collaborative platform for temporary farm labour management

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News

1) “More Funding Goes to Fighting Disinformation” (Crunchbase)

Of the 16 startups in the category that Crunchbase compiled, they “have collectively raised more than $250,000,000."

2) “With Backing From NATO Innovation Fund, OTB Ventures to Invest $185M into European Deeptech” (TechCrunch)

“We are basically talking about real disruptive technologies coming out of Europe, and being able to compete globally, or not only compete globally but lead global tech innovation.” (TechCrunch)

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Changing your business idea

One of the reasons for learning about the experiences of other founders is to dispel ones misconceptions. Fortunately, many of these appear to be common, and so some of them are available to read.

From Jessica Livingston’s book, Founders at Work:

“Founders need to be adaptable. Not only because it takes a certain level of mental flexibility to understand what users want, but because the plan will probably change. People think startups grow out of some brilliant initial idea like a plant from a seed. But almost all of the founders I interviewed changed their ideas as they developed them. PayPal started out writing encryption software, Excite as a database company, and Flickr grew out of an online game.”

The idea that a founder needs to be adaptable and pivot from or significantly iterate their initial idea isn’t a novel or unfamiliar assertion in the least, yet as Livingston calls attention to, some may still overweight the necessity of initially formulating a great idea before doing anything else.

Resources

StratupAI Generated Idea

“Facilitating temporary labor solutions for farmers through a collaborative human resources platform can address the seasonal labor needs in the agricultural industry. Developing a platform that connects farmers looking for temporary farm workers with individuals seeking short-term employment opportunities can streamline the hiring process and ensure a reliable workforce during peak seasons. Farmers can post job listings detailing the specific tasks, duration, and compensation, while job seekers can browse and apply for these opportunities based on their availability and skills. Additionally, the platform can provide features for scheduling, communication, and performance tracking to facilitate a smooth interaction between farmers and temporary workers. By promoting collaboration in matching labor supply and demand, this platform can help farmers efficiently manage their workforce and ensure timely completion of tasks.”

Disclaimer: The startup ideas shared in this forum are non-rigorously curated and offered for general consideration and discussion only. Individuals utilizing these concepts are encouraged to exercise independent judgment and undertake due diligence per legal and regulatory requirements.

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The startup ideas, strategies, and suggestions shared in this forum are provided for general discussion and informational purposes only. Any individual or entity considering implementing these concepts should exercise independent judgment and conduct thorough due diligence in accordance with legal, regulatory, and industry-specific requirements. Startup Strategist does not guarantee the accuracy, completeness, or suitability of any information shared. It is recommended to consult with legal, financial, and other relevant professionals before proceeding with any business ventures or decisions.