How to Choose the Right Idea for Your Startup: A Personal Reflection
As the founder of seven companies, I’m frequently asked how to identify which ideas are worth pursuing. After more than 30 years as an entrepreneur, I’ve come to rely on a few guiding principles that have helped me launch ventures, create significant value, and drive strong exits. Here are three insights that have been central to my journey.
1. Have a Personal Connection to the Problem
The most successful ideas often stem from a deep personal connection to the problem. For me, frustration has always been a powerful motivator, especially when something is too slow. When I encounter inefficiency or an unmet need, it triggers a drive to act. Many of my ventures have grown out of these moments.
CAST AI, for instance, emerged from a persistent challenge I faced while serving as CEO at Zenedge. At each board meeting, I found myself grappling with our cloud spend and asking, “What are we doing about this?” One day, I shared my frustration with my colleague, Leon Kuperman: “I wish a robot could just tell me what’s wrong and fix it.” That simple expression of exasperation was the inception of the idea for CAST AI. When the problem is personal, the solution often becomes more tangible and impactful. Since you have a personal connection to the problem, you’re also more motivated as a founder to find a solution.
2. Trust Your Vision, Even If Others Don’t
If you believe in your idea, don’t be deterred by skepticism. In 1998, I had an idea for a digital signature solution tailored for lawyers. A trusted advisor dismissed it, saying the legal industry wasn’t ready for such technology. I shelved the idea, only to see DocuSign later thrive in that very space. This experience taught me a valuable lesson: just because others can’t see your vision, it doesn’t mean the idea isn’t viable. Sometimes, it simply takes time for others to catch up.
3. Experience Teaches, but Entrepreneurship Remains Challenging
Experience brings wisdom, but it doesn’t make entrepreneurship easier. No matter how many ventures you’ve launched or how strong your network is, the journey is still filled with challenges. You’re dealing with people, emotions, and uncertainty at the end of the day. Over the years, I’ve developed what I call a “zen technique” to manage the emotional complexities that come with leadership. It’s about staying composed and making data-driven decisions, even in difficult moments. Emotional balance is key to realizing your vision.
Key Takeaways for Aspiring Entrepreneurs:
Personal Connection: Your best ideas often arise from challenges or frustrations that matter to you personally.
Conviction: Trust your instincts, even when others can’t see what you see.
Laurent Gil
