A few people have asked me how I decide on startup ideas.

My approach is the opposite of most others’.

I prioritize happiness, edge and downside risk.

0. Foundation

a. Curiosity: I pursue curiosities and jot every idea down. Effort and reflection reduce the scope over time.

b. Circle of Competence: do I understand this? do I care?

If no, I give the idea away or forget it.
If in doubt, it’s a no.
I look to reject an idea quickly.

What’s on your margins is in somebody else’s center.
Whoever cares most often wins.

1. Who

VCs talk about TAM and scalability.

Solopreneurs talk about Ikigai or “niche of 1”.

Neither has worked well for me.

Instead, I ask: who do I love being around?

If I list individuals, great.
A group of people, equally great.

If stuck, invert: who do I hate being around?

What do I dislike about them?
What do they have in common?
Why do I hate this?
Do I love the opposite?

(Life upgrade: avoid this latter group. It’s a decision.)

My “love” list is my market.
They energize me (happiness!) and I care more than others (edge!).

2. What

Childhood: what did I spend my free time on?
​Experience: what have I studied? what have I worked on?
​Expertise: what do people come to me for/ask me about?
​Interests: what do I enjoy improving in?

I’ve never been able to answer what I’m passionate about.

The above 4 - all based on past actions - are easier to answer.
I revisit these questions often and learn more about myself every time.

With awareness of my traits/knowledge/skills:

a. List hypotheses of how I can help my “who”
b. With or without hypotheses, I spend time with my “who”
c. As I build relationships (happiness!), I test my hypotheses, ask questions and/or help my “who” in ways that suit/energize me

If done well, I get 2 types of feedback that let me:

• Optimize the “what” so I can best help my “who”
• Understand, refine and add to my ideal “who”

3. How

Product? Service? Content? Tech? Subscription?

I used to start with the business model.​
I wanted money.

But I learnt that (a) others sense when you do it for the money (and avoid you) and (b) it’s hard to persevere when money motivates more than curiosity (happiness!).

I now know that a fixed “who” and flexible “how” reduce risk, improve the success rate and allow for greater compounding.

When you know the “who” and the “what”, the “how” is just math, optimization…and asking yourself “do I enjoy this?”

(At this point, I study and reverse-engineer others in the market to learn and accelerate progress. Ascertain demand, my edge, market risk, timing and that the idea is mainly an “execution play.” With the odds in my favour, I bet heavily.)

4. Wrap-up

With this approach, I improve my life (happiness!), learn more about myself and explore income ideas.

I get closer to my Self and do more of what I love with people that energize me.

And so can you.

Now please excuse me.
I’ve got a startup baby to grow.

Day 57 (almost) finished. 483 to go.

Love,

Jim

P.S. As for my/your "why": you either have one already (lucky you!) or it forms along the way. I don't think or worry about it. It comes naturally.