How can problem solving skills overcome a lack of funding in Startup Development?

3 Evaluate and select

The third step in problem solving is to evaluate and select the best solution for your problem. This requires critical thinking, logic, and data. You can use different criteria, such as feasibility, cost, time, quality, or impact, to evaluate your alternatives. For example, if your problem is that you don't have enough money to hire developers, you need to consider how each alternative will affect your budget, timeline, product, and customers. By evaluating and selecting, you can make informed and rational decisions.

4 Implement and test

The final step in problem solving is to implement and test your chosen solution. This requires action, communication, and feedback. You need to plan how you will execute your solution, who will be involved, what resources you will need, and how you will measure the results. For example, if your solution is to use a low-code platform to build your product, you need to choose a platform, learn how to use it, create a prototype, and test it with your target market. By implementing and testing, you can validate your solution and learn from your mistakes.

Problem solving skills are essential for any startup, especially when funding is scarce. By applying these four steps, you can overcome a lack of funding in startup development and create value for your customers and stakeholders.

5 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?