Don't Just Start a Business, Solve A Problem
By Thomas Oppong, Founder of Alltopstartups.com
As long as consumers have problems, they will always search for
solutions. People will always look for better, faster and smarter ways
to accomplish everyday tasks. And fortunately for entrepreneurs, there
are still lots of rooms for improvements in existing products.
That
said, the biggest issue for most founders is finding these painful
problems and matching them with the best solutions possible.
Here are a couple pieces of insight to get you started.
Focus on building a must have not a nice to have product. Consumers
are overwhelmed with the paradox of choice on daily basis. Attention
spans are getting shorter in the age of multi-tasking and only few
products are getting noticed – with many being a solution for a must not
a want. The demand for quicker and faster results make it difficult to
fully satisfy the needs of consumers. You need to be doing something
different and better to make it in this world, as donsumers expect and
demand more than just another product.
Solve real painful problems. Google made search
better. Amazon simplified online buying and selling. Netflix solved
on-demand streaming media. Uber is trying to make on-demand car service
better. What can you make smarter or better?
What is the one painful problem you can solve without struggle? To
grab your customer's attention, start by solving their needs, wants
rarely make the cut. If your product is not a must-have, you could still
find a way to repurpose it to solve a pressing need. If you have been
able to identify a crucial problem that you can effectively execute and
deliver to market, you will be able to create a real business that
matters.
Your business should be your passion. Some
entrepreneurs look to solve problems they identify with or feel
passionate. They choose this path because work because less about work
and more about enjoying the journey.
You will need all the inspiration, commitment and the perseverance
you can get to make it as an entrepreneur, hence the need to start a
business you are passionate about.
"The happiest and most successful people I know don’t just love what
they do, they’re obsessed with solving an important problem, something
that matters to them," Dropbox co-founder Drew Houston said during the
2013 MIT commencement address.
Coupled with passion, is the ability to execute. If you can't
deliver, you are not in business. Products with a real need are easy to
market and you won't have to convince people about the existence of the
problem and the need for your product because they identify with it.
You don't want to start a business that may not survive. Do your
homework, validate your idea and make sure you have a real market for
your idea. Don't just start another business, solve a real problem
people actually have to increase your chances of success.
Source: http://www.entrepreneur.com/article/236522
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