Ikigai – A Startups’ Guide (& a motivation guide to business founders)
Starting a business is exciting but often overwhelming, with endless decisions to make, from the type of product to sell, to the way you engage with customers. That is where ikigai, a Japanese concept meaning "reason for being," can offer a powerful framework to help guide these decisions.
Ikigai is based on finding balance in four key areas:
What you love
What you are good at
What the world needs
What you can be paid for
What You Love (Passion and Purpose)
At the heart of any successful startup is a founder who is truly passionate about what they do. What you love is the fuel that will keep you going when things get tough—because they will. For startups, this means choosing a business idea that excites you and aligns with your personal interests or values. Whether it is a product you have always dreamed of creating, a service that solves a problem you care about, or an industry that lights you up, tapping into what you love will help you maintain motivation over the long term. Startups can be intense, and passion is often the key differentiator between pushing through obstacles and giving up.
Ask yourself:
Does this business idea genuinely excite me?
Will I wake up each day eager to work on this?
Does this align with my personal interests or values?
What You are Good At (Skills and Strengths)
What you are good at focuses on leveraging your unique skills, talents, and strengths. When starting a business, it is important to play to your strengths while also recognising areas where you may need to grow or bring in outside expertise. This does not mean you need to be an expert in every aspect of your business from day one, but having a core set of skills or talents that align with your startup will make it easier to execute your ideas.
For example, if you are great at product development but not as strong in marketing, you might want to focus on building a solid product first and then collaborate with or hire someone to help with promotion. Understanding your own skillset and how it fits into your startup idea is crucial to building a strong foundation.
Ask yourself:
What skills or expertise do I already have that will contribute to this business?
What areas do I need to improve or seek help with?
Can I delegate tasks that are not in my skillset to others?
What the World Needs (Market Demand and Impact)
Every startup must address what the world needs—essentially, does your idea solve a real problem or fulfil a need in the market? This is not just about creating something people want, but something they actually need and are willing to invest in. Successful startups are those that focus on making an impact, whether that is through innovation, solving an everyday issue, or contributing to a greater cause. The key is to identify a gap in the market that you are passionate about and skilled at addressing.
For startups, market research is critical here. You need to understand your target audience, their pain points, and how your product or service will meet their needs. Consider whether your startup has a broader social, environmental, or cultural impact—startups that align their goals with the needs of the world often resonate more deeply with customers and create a lasting impact.
Ask yourself:
What problem am I solving for my target audience?
Is there a real demand for this product or service?
How will my business contribute to a greater cause or make an impact?
What You Can Be Paid For (Sustainability and Profitability)
Finally, what you can be paid for brings everything together in a sustainable business model. Passion and skills are vital, but your startup must also be profitable to survive. This involves not only ensuring there is demand for your product or service, but also figuring out how to monetise it in a way that makes sense. Pricing strategies, cost structures, and revenue streams are critical factors in creating a startup that is financially sustainable.
When considering what you can be paid for, think about the financial side of your startup: Can you price your product competitively while covering your costs and making a profit? Are customers willing to pay for what you offer, and if so, how much?
Ask yourself:
Is my product or service something people are willing to pay for?
How can I structure pricing and costs to ensure profitability?
Bringing it All Together
When these four elements of ikigai are in harmony, your startup is not only more likely to succeed financially, but you will also find deeper personal satisfaction in your work. By focusing on what you love, what you are good at, what the world needs, and what you can be paid for, you create a business that is meaningful, impactful, and sustainable.
If you are already a business founder, I hope reading and re-visiting all these four elements can give you energy to go through any difficulties.
You don’t have to go through your business journey on your own. Let’s take this step together. Please book a discovery session with me directly here via LinkedIn, or if you are a member of @treeshepherd, you can book a session with me via their website. I look forward to connecting with you and making your goals come true.
This article is cross-posted on