Million dollar startup ideas: Here’s how great investors discover new ideas for their multi-million dollar startups

In recent years, the startup landscape has been marked by numerous failures. Too often, these failures stem from a fundamental issue: selling products or services that fail to resonate with consumers. It’s a harsh reality that proper positioning and messaging are paramount for startup survival. Reports indicate that 90% of startups face, due in part to common pitfalls.

But hope is not lost for aspiring entrepreneurs and new startup founders. By steering clear of these costly mistakes, they can significantly bolster their odds of success. One such critical factor? Timing. Another way to increase your chances of success is learning How to Start a Startup from successful founders who have been in the trenches.

The adage “idea is cheap, execution is everything” echoes through the startup community. While execution is undeniably vital, flawless execution of an idea ahead of its time can spell disaster. Consider the case of the touchscreen mobile phone: Apple wasn’t the first to conceive the idea, so why did others falter while Apple flourished?

According to Garry Tan, a luminary in venture capital and the mind behind billion-dollar startups like Coinbase and Instacart, the issue isn’t a lack of ideas. Rather, successful startup concepts often align with new technology, societal behavior shifts, or regulatory changes.

With a track record that includes over $200 billion in market value created by startups he’s co-founded and over $3.2 billion in assets managed by his firm, Initialized Capital, Garry Tan’s insights are invaluable. His prescience was on full display when Coinbase soared to an $85.8 billion valuation on its Wall Street debut, turning his $300K investment into a staggering $2 billion windfall.

Tan’s commitment to sharing knowledge extends to his YouTube channel, where he imparts wisdom on building world-class teams and startups that leave a lasting impact. In one of his videos, he delves into the critical question investors constantly ponder: WHY NOW?

In a world where startup success is elusive, Garry Tan’s guidance serves as a beacon of hope, offering a roadmap to navigate the treacherous waters of entrepreneurship. In the video below, Garry talks about why some ideas succeed while others fail and the best startup and business ideas to start in 2024. Enjoy the video!