To get good startup ideas, look for anomalies

Most entrepreneurs are aware of product-market fit. It’s a good advice but I have an issue with the term “product-market fit”. It makes an entrepreneur focus on product first, market second. The words we choose to describe the world ends up shaping the world for us. This means not all “social networks” are the same and words you choose to describe an innovation has a significant influence on how much customers value it.

Repeated usage the term product-market fit, develops a mental model where the entrepreneur’s inclination is to make a product (or get an idea) first and then go out in the market to test it. In fact, that’s what Lean Startup and other methodologies suggest. Quick experiments and fail fast. ...  Read the entire post →