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Posted September 30, 2012

Finding Million Dollar Business Ideas

A look at resources that help aspiring founders pressure-test their ideas, with notes on Mixergy's courses and Andrew Warner's conversations with first-time startup founders.

Ideas · Entrepreneurship

The short answer to where million dollar ideas come from is rarely a sudden flash of inspiration. They tend to surface after a long stretch of honest conversation with someone who has already built a company and is willing to share what they learned the hard way. Mentors play a central role in helping potential entrepreneurs pressure-test the questions that an idea has to answer before it becomes a venture.

Why a mentor matters early

A founder at the idea stage is usually trying to settle basic questions about market, timing, and personal fit. Talking through those questions with a mentor who has walked the same road saves months of misdirected effort. The mentor's job is not to hand over an idea, but to help the founder see whether the one they have actually holds together.

Two resources to study

Resource

Mixergy

Mixergy offers online courses and live events that walk through the practical side of business planning and the technical aspects of getting a new venture off the ground.

Interviews

Andrew Warner

Through his interview series, Andrew Warner shares the stories of founders launching their first startups, including the missteps that shaped their eventual approach.

Putting it to work

Ideas are the starting line, not the finish line. The work that follows is what turns them into something a customer will actually pay for.