How to Find $10M+ Ideas in Markets We’d Never Worked In | Comulate, Jordan Katz & Michael Mattheakis

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📚 Main Topics

Startup IdeationThe common belief in Silicon Valley about solving personal problems to find startup ideas.
Industry ExplorationThe transition from tech to the insurance industry and the discovery of unsolved problems.
Initial SkepticismEarly challenges faced when pitching to potential customers who were skeptical of new solutions.
Founding CommulateThe journey of co-founders Jordan and Michael, their backgrounds, and the formation of their company.
Understanding Customer NeedsThe importance of deep customer engagement and understanding workflows.
AI and Workflow AutomationThe role of AI in transforming traditional industries and the potential for reimagining workflows.
Opportunities in Untapped MarketsThe significance of exploring overlooked industries for startup opportunities.

Saturation of IdeasFollowing the common path of solving personal problems can lead to saturation in the tech industry; exploring less popular industries can reveal significant opportunities.
Persistence Pays OffInitial rejection from potential customers can be a setback, but persistence and deeper understanding can lead to success.
Customer-Centric ApproachEngaging deeply with customers to understand their workflows can build trust and lead to better product development.
Simplification of Complex ProcessesThe ability to simplify complex workflows is crucial in creating effective solutions, especially with the aid of AI.
Exploring Untapped MarketsThere are vast opportunities in industries that have been historically untouched by modern software solutions.

Look Beyond the ObviousEntrepreneurs should explore industries that others may overlook, as these can hold significant potential for innovation.
Build RelationshipsEstablishing strong relationships with early customers can provide invaluable insights and support.
Adapt and LearnFounders should be open to learning about the industries they enter, even if they start with little knowledge.
Reimagine WorkflowsThe shift to AI presents an opportunity to rethink and redesign workflows rather than merely optimizing existing ones.
Long-Term VisionThe future of software and AI in industries like insurance is promising, with substantial opportunities for growth and innovation.