I opened Product Hunt this morning, looking for a unicorn. Here’s how I do it…

Find What’s Exciting

First, I look for products that excite me.

What have I never seen before? What would I want to use? As Paul Graham said…

“Curiosity is the best guide. Your curiosity never lies, and it knows more than you do about what’s worth paying attention to.”

Is it a Feature or a Business?

I’m looking for products you can build a business around. 

Maybe I see an app to clean up my inbox. That’s useful, but can you build a business around it? 

An inbox clean-up tool is a feature for an e-mail app. It’s hard for the clean-up tool to stand on its own. 

The Startup Behind the Product

Once I’ve found a product I like, I look into the startup behind it.

I look up the company on Crunchbase and see how much money they’ve raised. I like to see $750,000 or less. That means they haven’t raised a seed round yet. 

I also check where the startup is based. This morning, I found an awesome release, but the startup behind it is in Hong Kong. That market is too unfamiliar for me, so I passed. 

Do Upvotes Matter?

I don’t worry too much about whether a startup is #1 or #5 on Product Hunt’s list. But I don’t usually look below the top ten.

Once you’re in the top ten, you’re splitting hairs. #1 isn’t necessarily better than #5.

I pay attention to the Product Hunt ranking. But in the end, I use my own judgement.

Meeting the Founder

When I see a startup I like, I cold message the founder on e-mail or LinkedIn. I say something like this…

“Hi Jim! 

I saw your AI therapy app on Product Hunt. I loved the calming nature scenes!

I’m an angel investor in the NYC area. I’d love to learn more!

Francis”

I keep the message short. I also like to be specific about why their product grabbed me. This shows the founder I’m not sending him a copy-pasted message.

Never be afraid to cold message a founder.

Wrap-Up

Product Hunt is a great place to troll for deals. I see the very newest products and how our industry ranks them.

It’s also a lot of fun! I love the creativity of all these builders, making everything from AI children’s stories to stock trading apps. 

Somewhere in all those releases is a billion dollar company. I just have to find it.

More on tech: 

How Top Startups Break the Rules

Why Short Decks Raise Millions

How Founders Can Improve Their Pitch by Watching Game Film

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