8 Feb 2011

Solving Problems

If you are looking for great ideas to start a business, why not use the method of problem solving? This method gives you the ideas to the needs of business and has been identified by the market by setting a target market and identify problems not yet known. In the end, you build your business by providing solutions to their problems. Your solution could be a product, service, or both.

To start the search for the perfect business, think of specific groups of people. This group should be large enough to support your efforts. Some examples are baseball fans, parents, teenagers, etc..

Next you need to do a brainstorming group problem and collect data. Not necessarily an obvious problem or issue of concern, but the bigger problem is missed, the more need of a solution. Some examples of problems that baseball fans may be hard to find, such as memorabilia, special equipment, etc.. Diabetics may have difficulty buying a sugar-free meal, or find a sugar substitute.

After you record a variety of groups, and their problems are not resolved, then you add a list of solutions for each of these issues. Remember, the solution may be in the form of products or services. For example, diabetics who can not find sugar-free diet, you could offer a solution by opening stores that only provide sugar-free products. The problem is there are very few shops that provide a complete product.

A store that provides these products will have an instant market, which is not just shopping there, but they really need it. Remember, the easiest product being sold is an existing need. If possible, try not to make a product where you have to convince others to buy it or teach to use them. In general, this requires an expensive marketing efforts, better left to others unless you can do with cheap.

The easiest way to manage all this data is to separate into three columns with the label of each group, problems, and solutions. When you start to record ideas, try your mind wander as far as you want, you never know where they come from inspiration. Find solutions to common problems that may concern people in certain groups. In the end, remember this equation: the problem of unresolved + product or service you = your new business.


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