Solve Real Problems That People Will Pay For Where You Add Unique Value.
Solve Real Problems People Will Pay For, Add Unique Value
Tien G. Nguyen suggested three filters for a good business idea:
After a year of note taking and tinkering in a startup, here are 3 tests that I will use to filter future ideas. My opinion is that I have been too superficial in my evaluation of opportunities. All of them look great on the surface but, once examined closer, reveal a mountain of overlooked challenges. This test in 3 part aims to filter the avalanche of ideas that come to me on a daily basis:
- Solving my own problem(s)
Solving someone else’s problem is rewarding. Solving my own is even more so because I am intimate with the problem and the solution is guaranteed to help at least 1 person. - $$$ Trail
Some call it touching money, all successful venture advocate it: a path to profitability.A lot can be said on the matter but for the sake of brevity, any solution that doesn’t allow me to immediately charge for it should be discarded. - Real-World Validation
Down with wishful thinking. Real answers are found inside customers’ heads, not mine. If I’m serious about building a solution that generates revenue, it’s going to have to prove its worth beyond closed door speculations. This means talking to people and listening. This means launching with a minimum viable product and improving.
Which I summarize as
- Solve a problem that he has personally.
- Solve a problem that customers will pay you immediately to solve.
- Solve a problem that is a real one for customers.
What I think he is looking for in #1 is a problem that he has some useful knowledge about. Another way to say what I mean is that it should be become something that he can add unique value to, based on experience, expertise, or skills.
I think it’s stronger if you reverse the order to be:
- Solve a real customer problem,
- That they are willing to pay for,
- Where you add unique value (know-how, experience, or expertise) to the solution.

The final letter from the folks at Eventvue contains a lot of insight on #1 (a rather expensive and valuable lesson about start up entrepreneurship). It also points to the need to create a “gotta have” product or service versus “nice to have.”
This story from Tech Crunch links to the letter:
http://techcrunch.com/2010/02/05/eventvue-deadpool/
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