Here's how you can apply Creative Problem Solving skills to launch a new business in your late career.

1 Identify Needs

Begin by identifying unmet needs or gaps in the market that align with your expertise. Use your accumulated knowledge to think outside the box and find a niche that younger entrepreneurs might have overlooked. Creative Problem Solving encourages you to ask probing questions and look at problems through a fresh lens. This could lead you to discover a demand for services or products that only someone with your unique set of skills and life experience could fulfill effectively.

3 Solution Design

With a clear understanding of the market, it's time to design solutions that are not just good on paper but feasible and appealing in reality. Use your CPS ability to brainstorm and develop unique products or services. Don't shy away from experimenting with unconventional ideas or fusing concepts from different industries. Your goal is to create offerings that stand out in the marketplace and solve problems in ways that no one else has considered.

4 Strategic Planning

Strategic planning is where your CPS will shine, enabling you to craft a business plan that's both flexible and robust. Consider various scenarios and how your business would respond to them. This foresight is crucial, especially when resources are limited, and the margin for error is small. Your plan should include creative funding strategies, marketing approaches, and growth tactics that allow for pivoting when necessary.

5 Network Building

Building a strong network is critical, and here, your CPS can be a superpower in connecting with others. Look for networking opportunities in unconventional places and approach potential partnerships with an open mind. Your diverse experience can be a magnet for other professionals looking for fresh perspectives. Remember, the relationships you forge now can open doors to resources, advice, and collaborations that might be pivotal for your business.

6 Risk Management

Finally, apply CPS to risk management by anticipating potential challenges and developing innovative ways to mitigate them. This involves not only identifying risks but also creatively thinking about how to use your strengths to minimize their impact. For example, if your late career status gives you less runway for trial and error, you might leverage your experience to create more reliable forecasting models or establish stronger safety nets.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?