flipidea

"Failure is the mother of success." (Ancient Chinese proverb)

The Chinese proverb, 失败是成功之母 (shī bài shì chéng gōng zhī mǔ; in Chinese translation), defined failure as an essential process to success.

This is why in addressing high business shutdown rate, www.flipidea.co is building an affordable business intelligence to help early stage startup founders reduce costly mistakes, make prudent strategies, compete innovatively, and fundraise strategically to build businesses with strong competitive edge.

Through our research, we observed that most new companies failed to identify their problem-market fit before they validated their business to achieve the desired product-market fit, and as a result, they ended up in a highly saturated and competitive market.

Our postmortem data also showed that most inexperienced founders lack the know-how and affordable tools to effectively validate the market and conduct competitors analysis.

“At its core, business is more science than art because its many structural components and processes are methodical, measurable, experimental, and repeatable,” says Paul Lee Co-founder and CEO of Flipidea.

“Founders, even investors, should identify avoidable patterns from past experiences to avoid hindsight bias. Similar to how experiments are tested for desired outcomes.”

Thanks for the questions and they're good ones too :)

Our idea validation (idea checker) feature analyzes intuitive (hunch) ideas to check their idea uniqueness and business viability against our collections of companies and products, both active and inactive, in our database.

Both components have their sets of questions (datapoints) which we ask, such as:

- for idea uniqueness: one-sentence pitch, industry, business model type, market, and so on

- for business viability: what problem is being solved, what is the solution, who are the customers, how big is the market, and so on

So we'll analyze our users' inputs to predict their failure rate based on their idea uniqueness, competitive landscape, novelty score and so on.

Feel free to check out our solutions as we offer Freemium Plan for users to try us out: https://www.flipidea.co/

*Note: due to our real-time analysis (using text analytics), our results waiting time may take up to 1 min, which we're working to reduce the waiting time, and we're also improving its accuracy by our major release next month.

Why it matters: before you begin the rigorous process of starting a business, you first need to find a viable real-world problem worth solving that your potential customers would pay money for.

Problem it solves: most founders started their business without testing their ideas, which commonly led to their shutdowns from strong competition because they offered no unique selling point.

How you benefit: you will learn to analyze the idea uniqueness and business viability of your conceptual ideas, such as identifying problem-market fit and validating problem-solution fit, or test hypothetical assumptions without the risk of expensive and painful failure, and so on.

Our idea validation tool is powered by artificial intelligence to scientifically validate your intuitive ideas to reduce risks of business failure.