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Stop Looking for Ideas, Look for Problems to Grow Your Business - India Chief Mentor - WSJ
April 19, 2010, | WSJ | By Gautam Gandhi. Stop looking for
good ideas. That’s right, you read this correctly. Please don’t speak of good ideas ever again. Instead tell me about good problems. They'll most likely bring a business opportunity, Where are the problems?

If you look around there are problems everywhere. Question things you
take for granted and think to yourself: Is there a better way? When you
have your next business meeting, whether it is with a client or
customer, ask them what their biggest problems are. You will be
surprised by what people tell you. Hopefully, you will start to notice
patterns and will soon identify a problem to solve. Better still, if it
is a problem that affects you directly.

When you think of the problem that you are going to solve, ensure that:

You are tackling it for a sizable market
People are willing to pay for your solution
You assess your rivals

The last one is important. Never think: “I don’t have any competition.”
growth  problem_solving  pattern_recognition  idea_generation  problems  challenges  worthiness  messiness  uncharted_problems  large_markets  competition  questions  ideas  assumptions  criteria  India  pain_points  discernment  curiosity  dissatisfaction  opportunities  inquisitiveness  Michael_McDerment  worthwhile_problems 
july 2011 by jerryking
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