Three essential ingredients for a side project idea that will boost the chances of its success.
Your side project - just like any business or startup - should address a specific problem. Looking around, you’ll spot numerous issues that could use a solution. Your resources are limited (time, money, motivation), so you must be selective.
The most crucial criteria when choosing a side project idea are:
- The problem you wish to solve is significant to people – there needs to be a substantial group of individuals willing to spend money on a solution to that particular issue.
- The market is under-served – the existing solutions should be underperforming in addressing the chosen issue.
- You are passionate about solving this problem – the problem should captivate you to the extent that you’d want to spend years searching for its solution.
In upcoming posts, I’ll delve deeper into all three points. Finding a topic that genuinely engrossed me was the most challenging aspect, so I’ll initially focus on point 3.
Source: “How the most successful B2B startups came up with their original idea” by Lenny Rachitsky