Finding Profitable Startup Ideas
It's interesting that of the many friends I have who started companies (10 - 12), only two of them didn't receive funding. Both businesses built from scratch and now have a revenue somewhere in the neighborhood of $1m a year after two years. That's honestly pretty good IMO.<p>The other eight or so friends who started companies accepted some form of money. Of those, only two are still in existance. The survival rate of the other guys are 2/2, the survival rate of the funded startups to-date is 2/(8-10) or <25%.<p>I think part of that is simple because the people who didn't have funding didn't have a choice. It was survive or die.<p>It reminds me of probably the wisest words I've read regarding startups:<p>> Startups rarely die in mid keystroke. So keep typing!<p>- How Not to Die by Paul Graham[1]<p>The point is, focusing on something practical that doesn't need funding is like the easiest way to succeed and also find real problems. I've accidentially stumbled on solutions to problems other people have had and often those are the greatest little apps that can make you a steady income.<p>[1] <a href="http://www.paulgraham.com/die.html" rel="nofollow">http://www.paulgraham.com/die.html</a>