Focusing only on trendy sectors leads to intense competition where the vast majority of startups fail. True opportunity lies in contrarian ideas that others overlook or dismiss, as these markets have fewer competitors.

During a major technology shift like AI, the most valuable initial opportunities are often the simplest. Founders should resist solving complex problems immediately and instead focus on the "low-hanging fruit." Defensibility can be built later, after capitalizing on the obvious, easy wins.

Many founders assume that identifying a customer's "pain point" signals a business opportunity. However, most people tolerate countless pain points without acting. True demand comes from an unavoidable, active project for which they are seeking a solution, not just a passive problem.

Successful startups tap into organic customer needs that already exist—a 'pull' from the market. In contrast, 'conjuring demand' involves a founder trying to convince a market of a new worldview without prior evidence. This is a much harder and less reliable path to building a business.

Visionary founders often try to sell their entire, world-changing vision from day one, which confuses buyers. To gain traction, this grand vision must be broken down into a specific, digestible solution that solves an immediate, painful problem. Repeatable sales come from a narrow focus, not a broad promise.

Instead of optimizing for a quick win, founders should be "greedy" and select a problem so compelling they can envision working on it for 10-20 years. This long-term alignment is critical for avoiding the burnout and cynicism that comes from building a business you're not passionate about. The problem itself must be the primary source of motivation.

Don't wait for a 'Shark Tank' invention. Your most valuable business idea is likely a proprietary insight you have about a broken process in your current field. Everyone has a unique vantage point that reveals an inefficiency or an unmet need that can be the seed of a successful venture.

A visionary founder must be willing to shelve their ultimate, long-term product vision if the market isn't ready. The pragmatic approach is to pivot to an immediate, tangible customer problem. This builds a foundational business and necessary ecosystem trust, paving the way to realize the grander vision in the future.

Maintain a running list of problems you encounter. If a problem persists and you keep running into it after a year, it's a strong signal for a potential business idea. This "aging" process filters out fleeting frustrations from genuinely persistent, valuable problems.