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How to find a need / problem?

Discussion in 'Ideas, Needs, Concept Feedback' started by Amro, Oct 7, 2018.

  1. Amro
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    Amro Contributor Read Millionaire Fastlane

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    Hi all,

    Before someone asks, I did a search for similar threads but couldn't find one. I want to know how some of you succesfull fastlaners find needs and problems in markets before you enter them? Can someone give me some specific tips and tricks so I can continue?

    Thanks for your help!

    Regards,
    Amro
     
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  2. Chris25
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    Chris25 Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    I don't know if you've read MJ's books but he describes the process in detail with multiple examples. What comes to my mind atm is finding something you yourself have problems with. If you're waiting in a line for example and think to yourself "Ugh I wish there was an easier way to do this" than you discovered an opportunity where you can find a way to improve something. Either the waiting time, or line organization, etc.
     
  3. Amro
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    Amro Contributor Read Millionaire Fastlane

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    Hi,

    @Chris25 Thanks for your reply. I'm still reading the book but I am using this site at the same time. I understand that this is an option but then we need to have a clear overview what the competition does otherwise there is no edge to fill.

    But good reminder to continue reading the book.

    Regards,
    Amro
     
  4. papi016
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    papi016 Bronze Contributor I've Read UNSCRIPTED Speedway Pass

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    Go to Chapter 35 page 253 of Unscripted

    Until then:
    • What problems do you have?
    • What problems do your friends/family have?
    "Give enough people what they want and you can have whatever you want"
     
  5. Amro
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    Amro Contributor Read Millionaire Fastlane

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    Hi @papi016

    Thanks for the tip. I ordered the book today. But I'm still reading The Millionaire Fastlane at around page 35 so there's still a lot to learn and discover.

    Regards,
    Amro
     
  6. George Appiah
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    George Appiah Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    UNSCRIPTED deals with this in detail.

    CHAPTER 35: THE COMMANDMENT OF NEED: HOW TO ENGINEER OPPORTUNITY IN ANY INDUSTRY includes 13 ways of identifying FASTLANE business ideas.

    CHAPTER 40: THE 7 PILLARS OF PROCESS: GO FROM IDEA TO PRODUCTOCRAZY provides a complete framework for validating and developing the idea.

    There are also other essential nuggets sprinkled throughout the book.​
     
  7. Smuggo
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    Smuggo Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    To be honest I am not complaining about many things... And if I do I found out that there are many companies or people who are already solving that problem I had.

    And for example my family was complaining about destroyed carpet by some kind of a guy (company) and I was like.. damn maybe I can do it better but after quick search in google I've found few more comapanies that had good opinions, sites ect.
     
  8. Chris25
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    Chris25 Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Well you don't have to be complaining with a balled up fist. It's more about the thought process in your head. You need to notice when something isn't working too great and find a (possible) way to fill the gap.

    From a Fastlane perspective a carpet cleaning service doesn't really hit any of the 5 commandments (especially scale). Instead you would be looking for a new carpet cleaning solution all together. A new way of cleaning carpets, a new product that "magically" cleans the carpet for you, a new modern carpet replacement, etc.
     
    Last edited: Oct 7, 2018
  9. Bryan James
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    Easy. Go to Twitter and search #Ihate or #Iwish, etc. Then go to Google and type in the same things (minus the hashtag) and check out the top results. Boom freely available problems that people need/want solved. MJ's detailed this process quite often.
     
  10. Smuggo
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    Smuggo Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    It happend the same day I've read this topic GOLD! - Making Money For Dummies (And In a Crowded Market) and since I am not from U.S.A I thought it would be worth to implement.

    Google doesn't work for me since it finds me: music, i hate everything, me, you, statistics ect. :happy:
    Twitter seems to be more accurate.

    i hate.jpg
     
  11. A way of life
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    A way of life Contributor Read Millionaire Fastlane

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    I go on twitter and search for #Ihate etc and all I see is crap am i missing something?
     
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  12. Get Right
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    Get Right Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Yes.

    Post 3 things you saw and we can show you the opportunities. The goal being for YOU to be able to see them in the future.
     
  13. The Abundant Man
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    The Abundant Man Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Good

    Now what kind of crap do you see?

    You need to search deep within yourself

    Really look at what other people post

    You will find the answers. They are there

    upload_2019-3-2_0-18-37.jpeg

    upload_2019-3-2_0-19-10.jpeg
     
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  14. 404profound
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    404profound Gold Contributor I've Read UNSCRIPTED Speedway Pass

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    90% of what people think that want is to distract them from their perceived plight.
     
  15. Ajit Ratnaparhi
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    Ajit Ratnaparhi Contributor

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    Hello ,

    Best way to find a problem is to see around yourself.

    World free of all problems is impossible.

    "Need " I call it pain point. A pressing need where people are ready to pay you their money without thinking twice. As MJ describes Need should be strong.

    For example: Healthy Food. Nowadays, food for healthy food is in demand. People will not think twice before giving you money.

    Think about basic needs- Shoes , Toothpaste, things we use day in day out.

    This reminds me of Google's parameter for company acquisition- They call it Toothbrush test - " Are customers using your company's product at least twice a day "

    Strong Need will always play a pivotal role in your fastlane equation.

    Similarly n number of options are available.

    IMO use this test "what is something I can offer to the world for which they will not think twice before paying me"

    Hope this helps.

    Regards
    Ajit
     
  16. The Abundant Man
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  17. MHP368
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    MHP368 the man, the myth, the Pseudo-Apollodorus Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Go on reddit and find the "askreddit" sub and then ask some amalgamation of the frustration problem without being so vague that its obviously in bad faith (ie , dont sound like someone fishing for data)

    So "whats the most frustrating thing for you about xyz?" , or "what something that grinds your gears day to day?" <-family guy referwnce folks will love , not "tell me about a moderate or negative experience youve had with a brand or company"
     
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  18. Jesse D
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    Jesse D New Contributor

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    In my opinion Amazon is a great tool to identify market/product problems.

    Amazon has so much valuable data-- all for free. Existing customer comments/reviews on products that sell high volumes is key.

    Steps:

    1) Find a product your interested in on Amazon
    2) Make sure it has plenty of customer feedback in reviews/comments section
    3) Comb through all customer feedback that has ratings of 3 Stars or lower
    4) Find trend among customer complaints (THESE ARE THE CURRENT PROBLEMS WITH THE PRODUCT!)
    5) Fix the problems, implement, sell
     

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