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What do you do if your entrepreneurial venture is facing a complex problem?

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As an entrepreneur, encountering complex problems is part and parcel of the journey. It's not just about having a groundbreaking idea or a robust business plan; it's also about navigating the choppy waters of unexpected challenges. Creative problem-solving becomes your compass in these situations, guiding you to innovative solutions that can keep your venture afloat and thriving. It's a skill that combines out-of-the-box thinking with practical strategies to overcome hurdles that seem insurmountable at first glance.

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THIHA KYAW

Director | Leading Product Development & R&D Teams | Academic Mentor

1 Assess Reality

Start by taking a step back to objectively assess the situation. This involves gathering all relevant information and understanding the scope of the problem. Avoid jumping to conclusions or making hasty decisions based on emotions. Instead, use critical thinking to evaluate the problem from different angles. By acknowledging the reality of the issue, you can begin to identify its root causes and the factors contributing to it. This clarity is crucial for formulating an effective response.

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HARIRA DAHIR

An enthusiastic math teacher cultivating math confidence, competence, critical thinking, problem solving, and students' engagement for success.
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It would be crucial to analyze the problem and organize a meeting with relevant company personnel and specialists to devise potential solutions.

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2 Brainstorm Options

Once you have a clear understanding of the problem, engage in a brainstorming session. This is where creativity kicks in. Encourage free thinking and welcome all ideas, no matter how unconventional they may seem. The goal is to generate a wide range of potential solutions without judgment. This process can be done alone or with your team, and it's important to create an environment where everyone feels comfortable sharing their thoughts. The more diverse the ideas, the better the chances of finding a creative solution.

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3 Evaluate Solutions

With a list of potential solutions in hand, it's time to evaluate them critically. Consider the feasibility, potential impact, and resources required for each option. It's essential to be realistic about what can be achieved given your current constraints. Prioritize the solutions based on their effectiveness and the speed at which they can be implemented. Sometimes the best solution is not the most obvious one, so keep an open mind and be prepared to pivot if necessary.

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4 Make Decisions

Decision-making is the pivotal point in creative problem-solving. After evaluating your options, choose the solution that best addresses the problem while aligning with your venture's goals and values. This decision should be informed by the data and insights gathered during the assessment and brainstorming phases. It's also important to be decisive and confident in your choice, as hesitation can lead to missed opportunities or further complications.

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THIHA KYAW

Director | Leading Product Development & R&D Teams | Academic Mentor
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As an entrepreneur, choosing the right solution when faced with a problem is extremely challenging. Most complex problems stem from a lack of resources, whether it be financial, knowledge-based, networking, or market competition. Despite assessing the situation as thoroughly as possible, the options often remain limited. Critical thinking plays a crucial role under these circumstances. Most of the time, the decision involves selecting the most suitable solution rather than the ideal one to move forward.

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5 Implement Action

Implementation is where your chosen solution comes to life. Develop a clear action plan with defined steps, responsibilities, and timelines. Effective communication is key, ensuring that everyone involved understands their role in executing the plan. Be prepared for resistance or unexpected issues during this phase, and remain flexible enough to make adjustments as needed. The goal is to transition from problem to solution as smoothly as possible.

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6 Reflect and Learn

After implementing your solution, take time to reflect on the process. Analyze what worked well and what didn't. Learning from both successes and failures is a critical aspect of creative problem-solving. This reflection not only helps in dealing with future problems more effectively but also contributes to the overall growth of your entrepreneurial venture. Remember, every problem faced is an opportunity to refine your approach and strengthen your business.

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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?

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Apple A.

High Reliability Electronics Design ? Innovation ? DfX ? Competent and creative problem solver, that's who I am
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For complex problems, I like to use this approach: Simply it. Divide and conquer. Seek to understand and define the problem. Then seek to divide the problem into multiple smaller problems. Tackle each small section one by one or concurrently by assigning different problems to different subject matter experts. Some sections which are crucial, you will need to follow up more closely on the progress.

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What do you do if your entrepreneurial venture is facing a complex problem?

1

2

3

4

5

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7

1 Assess Reality

2 Brainstorm Options

3 Evaluate Solutions

4 Make Decisions

5 Implement Action

6 Reflect and Learn

7 Here’s what else to consider

Creative Problem Solving

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What do you do if your entrepreneurial venture is facing a complex problem?

1

2

3

4

5

6

7

1 Assess Reality

2 Brainstorm Options

3 Evaluate Solutions

4 Make Decisions

5 Implement Action

6 Reflect and Learn

7 Here’s what else to consider

Creative Problem Solving

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