- You think of a solution to a problem that (potentially) plagues many people. You may not necessarily be one of those affected people, but you believe strongly that people will find your service or product useful.
- You run across a problem and think to yourself "there has to be a better way". You create a service or product to fulfill your desire... In the process, you realize that your product or service will benefit many other people who share a similar problem.
So, if you run across a problem, identify it as potentially common, and figure out a solution, you could very well have the next million dollar idea. If you're simply seeking a market to monetize, and create a solution to a problem that you have never experienced, you're probably setting yourself up for a failure. Make solutions for the problems which you know... When you're doing math, always find and read the problem before writing the solution.
Here are some examples;
Problem 1: I keep losing my bookmarks when I upgrade my PC, and my bookmarks are only available on my PC.
Solution 1: Delicious
Problem 2: It's hard to find stuff on the web, so I'm going to organize all of my findings.
Solution 2: Yahoo!
Problem 3: Current search engines are corrupt and I can't find 90% of the information I'm seeking (plus I'm need a thesis)
Solution 3: Google