Solve Real Problems That People Will Pay For Where You Add Unique Value

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:

  1. 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.
  2. $$$ 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.
  3. 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

  1. Solve a problem that he has personally.
  2. Solve a problem that customers will pay you immediately to solve.
  3. 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:

  1. Solve a real customer problem,
  2. That they are willing to pay for,
  3. Where you add unique value (know-how, experience, or expertise) to the solution.

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4 thoughts on “Solve Real Problems That People Will Pay For Where You Add Unique Value”

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