Turning a problem into a solution and a business.
That’s the challenge every entrepreneur faces.
True entrepreneurship lies in being able to find solutions to problems, and the. being able to turn it around to be a thriving business.
Entrepreneurs have always found business sense in problems – in turning them into solutions that offer hope and opportunity.
How do we do that? How do we find value in turning a problem into a business?
Identify problems with the right mind set
Typically, when we come across a problem, we will look for short term or immediate solutions.
The entrepreneurship opportunity lies in being able to find a long term solution that can be a thriving business at the end the day.
When you identify the problem and you analyse it, you are able to apply several possible solutions that will be the best fit for the problem.
Turning a problem into a solution and a business will always be a great entrepreneur option.
Review solutions with a critical eye –
There are several solutions for every problem – but we must be able to identify the correct one.
The correct one must be able to solve the problem – at a low investment of time and money.
Being able to identify such solutions is the key to entrepreneurial success. It may mean working with others, developing and evaluating solutions and might take up a considerable effort but in the end, it will be worth it.
Keep testing –
Relying on your own experiences will not do – keep talking to others and identifying areas which are most likely to be the answer.
Keep testing – with colleagues, friends, customers and everyone else whose viewpoint will be an invaluable asset for you to do your initial research.
Don’t wait for answers to come to you – keep talking, keep asking questions and remember to gather it all as valuable data.
Nothing works better than doing your homework and getting your research together.
Invest in innovation –
The best way to find the right solution is to invest in the innovative solutions – the most appealing , the most different, all at the same time.
Being able to view innovative solutions is already a success in itself ; application can come later but what is critical to solving a problem has to be a new solution.
Look at problems differently – and solutions too. Think outside the box – review all options, without limiting yourself to a few.
Do your homework on the problem and the solution –
Too many entrepreneurs look for easy solutions – study the problem in depth and the solutions before you decide on which works best.
The best solutions must cost less and involve less time. Turning a problem into a solution and a business is key to everything.
Remember that everyday, people are trying to figure out answers and solutions to everyday problems.
Being able to understand the problem and the possible solutions means a lot of work – research, analysis, study, discussion and thinking.
Some of it is easy but most of it will involve a considerable effort and time.
But in the end, when you build your business, it is all worth it.