Usually a startup starts with an idea. When thinking about a startup, everybody wants to start one and get rich. It doesn’t work that way in 99.9% of the cases. You need expertise, know your domain. Then you need to generate ideas, start writing down ideas every day. Doesn’t matter how bad or good they seem, write them down. Every day, you start looking in your personal life and around you or in the media, about needs. What is needed? What is missing? Steer the ideas in that direction. After a few weeks, reread the ideas, you might be able to link them, extend them and improve. A continuous stream of ideas is the starting point. Then validation. Read about it on the internet. Does it exist? If not, why not? If yes, what can you do to make it better? You need something that is different and making it worth more. Upto this point, you haven’t spent one cent. If you don’t have the discipline to start generating ideas and reading up on your niche, don’t start any company. The secret to a startup that succeeds is commitment, discipline and reducing risk (by validating there is demand, serious demand). Hyped stuff today, AI, robotics, blockchain, it usually means that there is quite some competition, hence you won’t stand a chance unless you come fully prepared to the starting line.
Do I have more chance to make money with a robotics startup or an AI startup?