It’s not uncommon to find me passionately getting into startup-related discussions, even with people I know little about. Since I’ve mentioned I’ll be doing a few startup showcases though I’ve been pitched three times. (and I’ll shortly be on my way for a fourth one in a couple of minutes)

What I noticed that most people forget is that a startup or a project needs to be kept simple and really stick to the basics and really answer the following questions (if you know them and you have a correct answer, you’re clearly on the right track) :

• Does it solve a problem? (if it’s not you really should be stopping here and move on to the next idea)
• Does it do something better than anyone else? (if not, why should I go with you and not with someone else?)
• Would more than a thousand people use it? Would more than a hundred thousand people use it? (if you answered no to the first one it better be damn expensive)
• How does it make money? (if you answered advertising-only, you sort of lost me already)
• Are you in it for the thrill or for the money? Do you see yourself making a living out of it in under a year? (if you answered yes, yes and yes you might have just have a winner)

These are my five basic questions. The answers to the first question pretty much points out if you have a golden goose. The answer to the fourth decides if you just turned it into an ugly duckling. But whatever these answers are keep in mind that the most important asset you need is passion. If you have passion you can stick to the basics and come up with the next big thing.