Edited excerpt from Product Thinking isn’t the next big thing in UX design. It’s the only thing by Mark Maloney:
You need to actually understand the problem before you look to solve it. And you need to solve it with a distinct point-of-view.
(1) Although this was written for UX designers, I think it applies more broadly to early stage startups.
(2) Seed stage startups need to get three things right: (i) Ensure there’s a real problem (= Job To Be Done). (ii) Be clear about the unique focus, approach or insight you bring to solving that problem. (iii) Ensure you have a basic business model that will generate profits, based on what works in other businesses.
(3) What seed stage startups don’t need to get right immediately, because this is what you’ll be working on for the next few years: (i) You don’t need to nail down all the details of your product. (ii) You don’t need a detailed financial forecast, including pricing and margins.
(4) Re. “you need to solve it with a distinct point-of-view”: See the questions about competitive advantage in Six simple questions to test product-market fit and competitive advantage (from Y Combinator’s application form).