Where do you find problems?

[Dissio]

Hello guys, i know that no one will make my life decision but i'm wondering how it was with your businesses.

I know that in business one of the most important thing is solving problems. But where do you guys try to find and solve them?

Do you find them everywhere and in every industry? Or you try to focus on one and become expert?

There're people who say that:
- choose your passion
- do what is needed
- improve something
- focus on your strengths
etc.

And actually i'm lost.
Maybe i can find some problem in industry that i don't know, so in your opinion should i then try to solve it there, or just focus on my industry?

And what for ppl who haven't been in any industry? Do you think, that those ppl should try to find ideas in every industry? Or just randomly jump into one of them?

Main question is: when you want to get into business, you are aware of solving problems, try to find industry first or a product?

*Edit
Ok now i see this post:
https://www.thefastlaneforum.com/community/threads/the-inside-out-technique-getting-started.43781/

 

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[Mattie]

There are problems everywhere. I don't know how you can miss them. What do you hear people complaining about the most? What's broken. What do they need fixed. What doesn't work well, you can rebuild and make better.

 

[Thunder]

I can relate to what you're feeling. The idea/problem step is the hardest. I went around in endless loops over it for years, dozens of books and buzzwords - 'lean startup' 'mvp' 'customer validation' 'product market fit' etc.

It's simple really. If you're starting out, you likely don't have expertise in whatever it is you're planning to build (eg. you haven't built a SAAS product or app before).

All you have to do is list out 50 products (across 5 markets) that you can clone (with some enhancements) in the shortest span of time. Study companies that post their revenue (baremetrics/open, the inc5000 list etc.) to complete the list. Your list should have columns for revenue, market size, saturation, passion, etc.

Now, pick 1 product from that list, go all-in, clone while adding your own perspective: this will show up in the design, content marketing, vision, and will naturally evolve as you build the product. I can assure you by the time you have version 1 out there, it will not be a 'clone'. Strive for fewer features - check out 'A beautiful constraint' for more inspiration about doing more with less.

Your first product / business might not be a success, repeat the process till you gain enough expertise to try novel ideas. Problems are all around you, and people are making money solving them. Pick problem spaces that have competition. Clone, conquer, evolve. (Plenty of great examples of this : one that resonates with me is https://freshdesk.com/, cloned zendesk and now multi-million dollar co.)

 

[JonnyC]

https://www.thefastlaneforum.com/co...to-pay-for-solutions-bonus-for-canucks.64061/

 

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[Blue1214]

Here's a shortcut I've used.

Find a popular product /service.

Search for common complaints/ problems with those products / service.

Make a better product/ service that addresses those problems.


-- Also being self aware helps.

My first small online business years ago was selling a guide on financial aide appeal letters for people who needed money for college.

I realized there was a need for this when I searched online and there were useless resources to help me, yet according to google 2000 people a month were looking for this solution.

 

[Dissio]

Thanks guys, i have to be creative and go ahead!!

 

[Dissio]

https://www.thefastlaneforum.com/co...to-pay-for-solutions-bonus-for-canucks.64061/

link doesnt work

 

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[PatricianCat]

link doesnt work

Thread is on the Inside, you will have to join to get access.

 

[JonnyC]

link doesnt work

Click harder brah

 

[Dissio]

Click harder brah

shit.

 

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[Ubermensch]

Hello guys, i know that no one will make my life decision but i'm wondering how it was with your businesses.

I know that in business one of the most important thing is solving problems. But where do you guys try to find and solve them?

Do you find them everywhere and in every industry? Or you try to focus on one and become expert?

There're people who say that:
- choose your passion
- do what is needed
- improve something
- focus on your strengths
etc.

And actually i'm lost.
Maybe i can find some problem in industry that i don't know, so in your opinion should i then try to solve it there, or just focus on my industry?

And what for ppl who haven't been in any industry? Do you think, that those ppl should try to find ideas in every industry? Or just randomly jump into one of them?

Main question is: when you want to get into business, you are aware of solving problems, try to find industry first or a product?

*Edit
Ok now i see this post:
https://www.thefastlaneforum.com/community/threads/the-inside-out-technique-getting-started.43781/

Have you read the Millionaire Fastlane ?

Have you read through this forum? I don't know where, but MJ has written that finding a problem to solve happens naturally through immersion.

As a writer, MJ understands the raw power of words. The word immerse means to A) plunge into or place under a liquid. B) To involve deeply; absorb. Example: She is totally "immersed" in her law practice. C) To baptize. D) To embed; bury.

Take MJ at his own words. Take him literally.

Pick an industry in which to immerse yourself, and then do so. Identify local networking meetings. Discover all of the players in the industry. Pick up the phone and call them. Or type them an e-mail.

Somehow, you have to initiate the immersion yourself. Be like Water, advises Bruce Lee.

You have to jump into the water. The water will not jump into you. Opportunity doesn't come knocking at your door. It hides in its natural habitat, in the marketplace, in the unfulfilled needs of businesses and individuals across the globe.

If you haven't spent at least three hours of the day involving yourself deeply in your industry, absorbing it and baptizing yourself in it until it has become a spiritual part of you, you can't call that "immersion."

The process of immersion may feel unnatural at first. I began my self-employed career at 23, and never looked back. As my first order of business, I began attending venture capital presentations by hot companies seeking capital. They were free to attend, and provided fantastic networking opportunities. I was a broke 23 year old kid in a room full of investors, mega-investors, uber-investors, hedge fund managers, guys worth $100,000,000+, etc.

My perspective on life changed rapidly. I knew what I wanted: Big time money. I needed to discover the big time players, and somehow start mapping out a long-term plan to get to that level. I didn't care if it took years. I would do whatever it took. I learned from .com centi-millionaires, hedge fund managers, etc.

The more you force yourself out of your self-defined comfort zones, you set yourself up for an exponential leap in life.

You can't start doing anything right until you define first what you want to do. What is your ultimate strategic goal? Where do you want to live? Who do you want to live with? If you had a genie in a bottle, what would you ask for?

Before you go chasing after this or that, really see yourself where you want to go. Personally, I am so obsessed with my life - and my love of it - that I am willing to do whatever it takes to achieve my full potential.

All you have to do is list out 50 products (across 5 markets) that you can clone (with some enhancements) in the shortest span of time. Study companies that post their revenue (baremetrics/open, the inc5000 list etc.) to complete the list. Your list should have columns for revenue, market size, saturation, passion, etc.

Now, pick 1 product from that list, go all-in, clone while adding your own perspective: this will show up in the design, content marketing, vision, and will naturally evolve as you build the product. I can assure you by the time you have version 1 out there, it will not be a 'clone'. Strive for fewer features - check out 'A beautiful constraint' for more inspiration about doing more with less.

Your first product / business might not be a success, repeat the process till you gain enough expertise to try novel ideas. Problems are all around you, and people are making money solving them. Pick problem spaces that have competition. Clone, conquer, evolve. (Plenty of great examples of this : one that resonates with me is https://freshdesk.com/, cloned zendesk and now multi-million dollar co.)

While the "study the Inc 5000" advice rings well, I wouldn't necessarily encourage someone to try to "clone" what's out there. By time you get around to figuring out how to do what some Inc 5000 companies do, they will have eaten up all the marketshare (along with their competitors). Better to actually have something to bring to the table and partner with at least one.

Have you ever actually worked with an Inc 5000, or a Fortune 1000 company?

I landed my first Fortune 1000 client - Abercrombie and Fitch's corporate headquarters for electricity - during my four year disappearance from this forum awhile back.

I have recently developed strategic partners on both the Inc 5000 and the Inc 500. I communicate directly with the Presidents and CEO's.

Trust me. Nobody's just coming along and "cloning" what these guys do.

@MKHB knows ALL of this.

 

[Leo Hendrix]

Dude,

One simple place to start. Look at your own life, what problems do you face? shoe-laces that always become undone by themself?

Want to heat up food but dont have a micro-wave or oven or any other cooking device?

Organize your opened tabs in some digestible form that makes sense to you?

Problems are everwhere, Read TMF or get the audibook and CENTS will give you the guide on how to solve the problem and profit from it.

 

[100k]

Problems are everywhere bruh.

Businesses have problems getting sales, getting leads, closing leads, getting referrals, increasing life time value (i.e getting customers to return and spend again), up-selling, time management, online reputation, branding, running capital, recruitment, connecting with their customers through social media, money management (accounting), training staff, systematizing & standardizing processes... etc. etc. etc.

Just engage with business owners and find out what problems they face.

People have problems with building relationships, finding new things to do, saving money, making more money, getting into shape, boosting confidence, acquiring knowledge & skills, managing their time, procrastinating, cleaning their flats/homes, taking care of their pets, fixing broken things around the house, maintaining the garden/yard/lawn, getting to/from work, painting & decorating etc. etc. etc.

Again, go and engage with people... talk to people and find out what they struggle with and figure out how you can help them with those things.

 

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[Dissio]

@Ubermensch Thx for this post, it's very heart-warming.

The problem that i have is, there are so many choices, industries, career, strategies that i can't choose 1.

This MJ's concept about finding problems seems good, but as well finding your strengths and focus on them as well. The other ppl will tell you follow your passion (something that you have to like) and try to monetize it.

So 1 question. Imagine that your are let's say teenager again. You are broke. You have not passion, you have no deep domain expertise. Actually your life sucks. I dream about some materialistic things, status and personal development (feeling that you are good, and doing something useful), what would you do firstly?? The few first steps. The beggining. Not the hard work, solving problems etc. Begining?