To solve the problem, we must first create value.
Who is it for?
What problem does it solve?
If you don’t build it, will we miss it?
At the beginning of the Internet, the company grew by paying attention to the problems that users encountered.
As a result, people found a partner, a place to chat, a way to buy the book they had been looking for, and yes, there was a chance to sell their Beanie Baby collection. They list jobs and find them, send messages around the world and find the information they need. There is not always a business model, but successful startups succeed because they relentlessly focus on solving problems for their customers.
If it is difficult to explain why someone needs what you are doing, then you have a real problem.
This is the best use of venture capital that flowed into the network 25 years ago. Patient investors say, “If you solve a customer problem well enough, the profits will naturally resolve itself.”
In just a few decades, many simple problems have found profitable results.
Many small businesses are in trouble because they started in different places—the question they ask is: How do owners make a living? When owners pay too much attention to sunk costs and bills payable, serving customers comes second.
Over time, successful companies will figure out how to align their goals with the customers they serve.
Even Beanie Babies solved a problem for someone.