The Pain Frequency Matrix
Startup ideas are easy.
The right startup ideas are hard.
Startup ideas can be evaluated using The Pain Frequency Matrix, which categorizes ideas based on how often and how severely they affect potential users.
The challenge for startups lies in identifying and focusing on problems that are both frequent and painful enough to warrant investment of time, attention, and money.
Low Frequency / Low Pain
Likely not a worthwhile investment of your time. These issues are neither pressing nor frequent, making them unattractive prospects for VC investment.
Example: Emoji Email β An email newsletter to update you on any new emojis added to operating systems.
High Frequency / Low pain
These are everyday nuisances that, while common, may not be severe enough for people to invest in a solution.
Example: Umbrellas as a Service (UaaS) β On-demand couriers who will meet you anywhere to hand you an umbrella in the event of rain.
Low Frequency / High Pain
These are minor issues that don't occur often but can be both aggravating and expensive when they do. While they present promising opportunities for startups, the challenge lies in amassing a sufficient customer base to maintain a viable business.
Example: βUber for Plumbersβ β Tackle leaky toilets at the tap of a button.
High Frequency / High Pain
These represent the most lucrative prospects for startups. Given their regular occurrence and substantial impact on individuals, people are generally more inclined to invest in a solution.
Example: Smart Digitial Wallet β Not just storing your cards for instant access, but knowing which credit card to use for everyday payments to maximize the points earned.