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What’s the problem?

In my line of work I see a lot of great new business ideas. It’s a real thrill being at the birth of something that may become truly great – though not all these ideas have what it takes.

There are a couple of simple, powerful (occasionally annoying) questions that quickly show if a product or proposition is likely to get to great. A succinct answer means a client’s onto a good thing. Those that don’t may have a little more work to do……

  1. What customer problem are you trying to solve?
  2. Does the customer know they have the problem?
    • Yes? How are they currently solving it? How will you be better, faster, cheaper or more convenient?
    • No? How will you tell them they have a problem, and tell them about your solution?

I want to try something a little different this week – for anyone fleshing out a business idea at the moment, take these two questions away and try them out.

If your idea passes this test then I have a couple more questions to consider next week.

KS

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