Find somebody to help

In your search for a problem to solve, it can be very inspiring to identify somebody to help. This actually means finding your target market before you know what your business idea is.

This might be contradictory to the way we usually think about new an innovative ideas, but there are a few good reasons to do this as an entrepreneur. And whether they are aware of it or not, a lot of entrepreneurs do it this way.

First of all, it forces you to think about a target group that you actually know! Most entrepreneurs know their first customers, because buying from a new business is a matter of trust. So knowing people in your target group gives you a better chance of success in the startup phase. And by knowing your taget group, there is a better chance, that you will actually be able to come up with a solution that they will actually use – and buy.

Another point is, that you will start focusing on real peoples problems and not just the problems of a big abstract market.

And finally you will be able to choose your customers from the start in stead of launching a product, where you will have to take the customers that choose you. Having the right customers is of course a mater of sales and profits, but it is also very much a matter of how much your enjoy the work with your customers. As a startup you are in very close contact with them on a daily basis – and they will all want to speak to you personally.

In my own business I have worked for entrepreneurs and small businesses, but also with big corporations and public institutions like universities. And I tell you, there is a big difference…

So here’s what to do: In the field where you are passionate,  ask yourself: Which segments have a problem to solve? And who would you like to work with?

When you have identified one or more segments, it is time to learn more about them to understand their real problems.

Filed under: ideas, customer, ideas, market, problem, segments

Be problem alert

Looking for problems to solve is the obvious way to think about new business ideas. Every problem is a business opportunity – if the problem is so big, that people will want to pay others to solve it.

To some problems there are already solutions, but some solutions are not good enough and if you are lucky, they don’t even exist.

If you have thought about your passion and identified a field, where you are particularly passionate, I recommend you to look for problems there.

As I have mentioned before, I am very passionate about cycling, so I might look for problems within cycling: What problems do riders have with their equipment (bikes, clothes, maintenance etc.)? What problems do they have during races (food, drink, crashes, heat, rain etc.)? What problems do they have, when it comes to nutrition, training right, training in winter time etc.)? Or I could look at cycling from another angle: What problems do race organizers experience? What problems do cycle tourists experience? And what about the fans?

You see?! Even in a narrow field you can search in many different places for hundreds of potential problems. So if you want to become an entrepreneur and search for a problem, I recommend you to start in a field, where you are passionate. Not only for the sake of your passion, but because focus is a crucial step in the proces. Just searching for a problem is like saying “I want to write a book”, and then open a new document in Word on your laptop. There is just a big white screen and not words to build on.

Filed under: ideas, ideas, passion, problem

How do you spend your time?

It is sometimes difficult to decide what is actually your passion. If you spend most of your time working passionately on something, you will know, but if you are stuck in a job or in studies that you are not 100%  passionate about, you might not have found your passion yet.

In that situation it could be very relevant to look at the way you spend the time, that others don’t control.

• What do you do, when you have extra time on your job or in your studies?
• What do you do in your spare time?
• What do you do in holidays?

Is there a certain topic that you study extra hard? Are there certain things, that you try do do as much as possible? Are there things, that you maybe think you do too much, because you enjoy it?

If you do this little exercise, you have to be brutally honest with yourself. Don’t pretend to be spending your time on sensible things if your are not.

Even if you only relax on the couch or watch television. What do your read? What do you watch?

Looking at how your spend your time might give you an idea about where your energy is going. That is what passion is about!

Filed under: ideas