The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  • Just an FYI, the forum was down for 8 hours over night. Welcome back!
  • Join 50,000+ entrepreneurs who are earning their freedom and living their dream.

    "Fastlane" is an entrepreneur discussion forum based on The C.E.N.T.S Framework outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED®). From multimillionaires to digital nomads to side hustlers who are grinding a job, the Fastlane Forum features real entrepreneurs creating real businesses with one goal in mind: Freedom— both financial and temporal.

    Download (Unscripted) Download (Millionaire Fastlane) Register
    Registering for the forum removes this block.

Solve Real Problems

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

tpjay

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Aug 19, 2016
46
59
115
26
Rhode Island
I haven't solved any real problems myself, yet, but Jeff Hoffman has and has done quite well. He gives sound advice on how you should approach the world as a problem solver. Jeff has also been on my journey to breaking down old beliefs. I am posting this here because people in this forum might find this helpful on their journeys. Jeff is basically paraphrasing the Needs Commandment MJ discusses, but it always help to experience through various stories of how to find needs. Jeff speaks about finding a need using complaints and pains he had experienced. I hope you enjoy this talk.


I've been on and off on the forum and hope to be around more now and in the future. :thumbsup:
 

Don't like ads? Remove them while supporting the forum. Subscribe.

mikey3times

Silver Contributor
Read Millionaire Fastlane
Speedway Pass
Jun 21, 2013
329
691
277
Massachusetts
Great video, but be careful.

I'm in a "looking for needs" phase
Don’t spend forever looking for the perfect solution or you’ll be watching these videos forever. Start something.

I haven't solved any real problems myself
Have you ever had a job? Then you’ve solved a real problem. Nobody is giving you money unless you solve a problem. Give yourself some credit.

If you’ve had a job, you’ve probably also DISCOVERED a bunch of problems that need solving. At the very least, you have some ideas about how to solve the same problem better, faster, cheaper, etc.

The guy in that video didn’t discover a new problem that needed to be solved. There was already a way to get your boarding pass. Instead, he created a way to get your boarding pass faster. Listen carefully, “it is just a printer.” He has the same solution (a printer) but he did it better.
 

rpeck90

Gold Contributor
Speedway Pass
Nov 26, 2016
225
1,053
357
30
United Kingdom
Great video, but be careful.



Don’t spend forever looking for the perfect solution or you’ll be watching these videos forever. Start something.



Have you ever had a job? Then you’ve solved a real problem. Nobody is giving you money unless you solve a problem. Give yourself some credit.

If you’ve had a job, you’ve probably also DISCOVERED a bunch of problems that need solving. At the very least, you have some ideas about how to solve the same problem better, faster, cheaper, etc.

The guy in that video didn’t discover a new problem that needed to be solved. There was already a way to get your boarding pass. Instead, he created a way to get your boarding pass faster. Listen carefully, “it is just a printer.” He has the same solution (a printer) but he did it better.
THIS. If we had the rep bank still, I'd have sent some.

The video is amazing, but - and don't know if this is just me - makes me feel apprehensive watching it.

As you mentioned, the guy in the video hit a home run. His pain point was so vivid and pronounced that for any seasoned entrepreneur, it was a win-win scenario. Everyone "got it" and he was able to cash out. Good work.

Whilst this is the dream, reality is different. It's long hours, typically working on some obscure issue preventing the company from being launched. It could be paperwork, government regulation, production, R&D, or - as I imagine in the case of this guy - integration into the airport's booking system.

MJ calls it the "commandment of entry". Business literature calls it "barriers to entry". The point is that whilst what the guy in the video stated is emphatically true, it may not be as clear cut as he explained. Having a cure for cancer is based on the assumption that you actually do have said cure. Sure there's a need... but is the solution something you are realistically able to deliver? Apart from running out of money, my observation is that most new businesses fail because they are simply unable to deliver what their audience thinks they're going to receive.

My point is that whilst this stuff is obviously important to watch, like the post above, you shouldn't worry too much about finding a huge "home run" pain point. That comes after you've built up your tolerance to failure & risk. All the most effective entrepreneurs I've met have all developed rhino skin which makes them impervious to opinion. They built this through failures, risks and successes.

This allows them to sit down, recognize a major problem like the one highlighted in the video, and then pursue the ONE thing that's prevented others from doing it (ignoring 99% of the issues newer entrepreneurs succumb to). In the case of the boarding pass product, it's likely that the guy had to determine how he was going to get it to automatically check passports/ID's, whilst also integrating into the airport's booking system. How this was achieved, I have no idea. Beyond the product itself (which - as mentioned - is just a printer), this is where the value was created, and what the company was paid to deliver.
 

lydialeads

Contributor
Read Millionaire Fastlane
May 29, 2019
21
54
20
MJ calls it the "commandment of entry". Business literature calls it "barriers to entry". The point is that whilst what the guy in the video stated is emphatically true, it may not be as clear cut as he explained. Having a cure for cancer is based on the assumption that you actually do have said cure. Sure there's a need... but is the solution something you are realistically able to deliver? Apart from running out of money, my observation is that most new businesses fail because they are simply unable to deliver what their audience thinks they're going to receive.

My point is that whilst this stuff is obviously important to watch, like the post above, you shouldn't worry too much about finding a huge "home run" pain point. That comes after you've built up your tolerance to failure & risk. All the most effective entrepreneurs I've met have all developed rhino skin which makes them impervious to opinion. They built this through failures, risks and successes.
Rhino skin - love that! :fire:

A friend of mine said to me the other day that if we were able to separate our emotions from our living corpse, then life would be much easier to deal with. But we're human, not robots, so emotional reactions are inevitable. But as MJ mentions in Unscripted, as entrepreneurs, the "F*ck this" event (FTE) should spark change and it's all about the process: "that pursuing the dream is the dream itself. It's the process. The failures, trials, and tribulations." This develops rhino skin.
 

Martin Galli

New Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Mar 27, 2019
9
9
16
Argentina
I think this is the best way of finding business ideas.
Thank you! @tpjay
If you have more valuable information on how to find business opportunities, please share, I'm currently struggling with this and I want to get ahead...
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Sponsored Offers

  • Sticky
MARKETPLACE Fox's Web Design Guide: Earn $100K this year (Yes, 2020!) and Go Fastlane
Just a quick question, is it possible to communicate only via e-mail or text messages? I am...
  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
Ah, I should've checked here to find out that it was free! Although, Amazon only charged $2 for...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Pick the one you need most. Some just buy them all. :D Loving your email sequence.
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Dropping a quick note in here to say... if you are on TFL, you are part of an elite group of...
  • Sticky
MARKETPLACE Kill Bigger Incubator
I joined @Kak's business incubator in the first week of May. During our daily chats we uncovered...


Visit A Forum Sponsor
sponsor

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom
AdBlock Detected - Please Disable

Yes, ads can be annoying. But please...

...to support the Unscripted/Fastlane mission (and to respect the immense amount of time needed to manage this forum) please DISABLE your ad-block. Thank you.

I've Disabled AdBlock