Who Knew "Problems" are Entrepreneurs' Best Friends?
So, the best way to spot problems to solve at a profit would be to start qualifying problems.
Start by asking these 5 Questions?
- Does a Solution Exist?
- How effective is the Solution?
- How can I solve it? Or make a Better Solution?
- Can I use tech to improve it?
- Finally, the most important question.......How can I build a Business around solving the problem in Question?
If Spotting Problems is the Foundation, how do you Spot them in the real world?
There are a Million ways to Spot problems; I am going to simplify them for you and share with you proven ways to Spot problems:
Are you ready? Bear in mind that this is not the end-all-be-all list, you would find other ways which could be just as effective, and these are ways I find to be most accessible.
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Start Asking Questions
People like Martin Luther King Jr., Steve Jobs, and the Wright Brothers had little in common, but they all started with WHY. They realized people wouldn’t truly buy into a product, service, movement, or idea until they understood its WHY.
I would recommend starting with the basic fundamental question:
- Why are some people and organizations more innovative, influential, and profitable?
- Why do some command greater loyalty from customers and employees alike?
- Even among the successful, why are so few able to repeat their success repeatedly?
The leaders who've had the greatest influence in the world all think, act, and communicate the same way -- and it's the opposite of what everyone else does.
The Golden Circle Framework
I would like to share The Golden Circle Framework by Simon Sinek. Briefly Explain the Golden Framework.
Apple never talks about the Features (Features Target Logic). Apple focuses on Experience (Experience Triggers Emotion).
People buy with Emotion and justify the purchase with Logic.
As Simon Sinek rightly says: Start with the Why? (Start Asking Questions)
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