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Ideas vs Problems vs Real Problems
Get to the real problem before solving them
All great inventions and successful startups are born out of this one statement . Have you ever questioned “What exists around us … Why is it around?
If it exists and is adapted by many , it sure has solved a real problem
If it exists and we still ask the same question (but with a pinch of sarcasm) , it sure exists as a being hatched out of just an idea or a problem as perceived by the creator but not so felt by the consumer . So how do you really get to the real problem ? . Well, answer is simple , look beyond your perceptions .
Idea Validation is one unmissable first step in a startup journey . Many founding teams do validate their startup ideas but how many do it scientifically. The StartupBay 9 box idea validation is one such methodology which marks the first step if one wants to be on the side of a successful startup. But why is it important ? Well , lets look at some historical facts and there lies the answer
Right from inventions like automobile to electricity to internet and some recent businesses like Paypal or Google , all great inventions or businesses are built on big problems and real problems. The fundamental question is “How acute is the problem as understood and felt by potential takers ?”
Get down to the real problem
Look at some of the “Real Problem” Solvers of our times
Company Problem Solution
Apple Personal computers were not affordable or available to the general public Apple released the Apple I, II, and Macintosh to provide individuals with computing capabilities in their own home and office
Ford Motor Company Despite the first modern automobile being created in 1886, there was no fast and efficient way to produce an automobile for personal use Henry Ford created the assembly line to much more quickly mass produce his vehicle, the Model T
Dropbox Files access was constrained to the hardware they were saved upon Drew Houston developed a system of synchronizing files via the web to be accessed from any device
Amazon Buying books was constrained to finding a bookstore, having the correct book in stock, and traveling to that bookstore Jeff Bezos made it possible with Amazon to purchase any title and have it shipped directly to you from any location
Walmart Buying goods at multiple different stores is both time and capital intensive. Walmart gives shoppers the ability to “one-stop shop” and purchase all the goods they need in one location, at a lower price due to economies of scale and bulk ordering
Under Armour Clothing worn during exercise and underneath padding became soaked with sweat, heavy, and uncomfortable Kevin Plank (then a captain on the University of Maryland football team) noticed his compression shorts were kept dry. He used the same moisture-wicking microfiber to produce other clothing to keep athletes cool, light, and dry
Without quoting the businesses that did not succeed , the slip between the lip and the cup was “Problem” vs “Real Problem” Getting down to the “Real Problem” may need some excess time , effort and money initially , but it saves multifold subsequently. Moreover , think – You are a startup to create impact and build value , and not just another business of optimal risk index.
Credits and Connects
To know more about the StartupBay 9box idea validation model , write to – info@startupbay.in
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Beyond the Why , What & How of your…
“I had this one instance in my life that was compelling enough for me to be led into this startup”
The Why , or the sole purpose of your startups existence , can it really sound so simple. If we have much deeper meaning and understanding of our own day to day existence , our startups purpose has to be much bigger than just existential . Your startups story will be noticed by not just your customers or investors , but every existential being who gets their eyeball on it . Each one is a potential brand ambassador , so make this story worth by putting together the most thought through purpose of your startup out there.
“We came up with this great idea and thought this is the solution to many a problems”
“The problem always existed , it needed someone to notice it and do something about it”
The What , or the problem – solution continuum . Almost all ideas come from problems , some as perceived by us or some validated by some real life instances or experiences. It is true that a solution makes sense only and only if there is a real problem and not a perceived one. Now if we have found a real problem, it needs to be validated over and over till the problem – solution matrix looks like a continuum. This is where our startup needs to go through a detailed process of idea validation, and no its not art , its science and has a scientific method. There are many models of idea validation and one must use the best engineered model for your type of startup. Get expert / professional support here , if needed.
“X customers in year 1 , Y locations in 18 months , Z product types in the first 36 months ”
Keep all of this out of the story and may be just keep it aside for your financial deck. The How means business and want to stick to how. Execution of a plan is display of your teams capability and your strategy and that’s what the audience of your startups story is interested in . Make it strong
The first step to a great engagement is a story . If you have a story , share it with the world. Remember , every eyeball that hits the screen is a brand ambassador. So make it worth their read .
https://www.startupbay.in/story/share-your-story
Beyond the Why , What & How of your startup story
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