Solving the Difficult Problems

8 out of 10 people I meet tell me that screen addiction is a problem that can not be solved. All of them though agree that it is a problem and they want solutions.

What does this mean for an entrepreneur?

You are trying to build something with a high moat. If you succeed in solving it, you can scale fast. The impact and significance of your solution will create a lasting legacy. Not just this, the personal growth you will experience as an entrepreneur will be exponential.

So in short, solve for the difficult problems and leave the easy problems to others. There is high probability there will be a lot of options for you to collaborate with people who are solving the easy problems.

That's great, but how do I find a difficult problem to solve as an entrepreneur?

Look around you, and see why lives of people or business are getting difficult every day? Is there someone trying to solve it? will the problem scale increase or decrease in the future? What is the likely hood of someone solving it quickly?

Oh! wait, you are the structured types and need a framework. I almost forgot I was writing for Linkedin. Refer to the same construct as a framework below.

1. Market Research:Industry Trends: Look for industries or sectors undergoing significant changes, where existing solutions might be outdated or inefficient.Customer Pain Points: Identify persistent problems that customers face within a particular market. The more acute the pain point, the more challenging and valuable the solution.
2. Societal Impact:Social Issues: Explore societal challenges that align with your values. Addressing issues such as healthcare, education, or environmental sustainability can be both meaningful and complex.Global Challenges: Consider problems with a broader impact, such as those related to climate change, poverty, or healthcare access. These often require innovative and scalable solutions.
3. Technology Integration:Cutting-Edge Technologies: Identify areas where emerging technologies like artificial intelligence, blockchain, or biotechnology can be applied to solve complex problems.Interdisciplinary Solutions: Problems at the intersection of different fields may be challenging but offer unique opportunities for innovative solutions.
4. Regulatory and Compliance Challenges:Highly Regulated Industries: Industries with complex regulatory environments often present difficult problems. Navigating regulations while providing value can be a substantial challenge.Compliance Requirements: Problems related to data privacy, security, and compliance are increasingly complex and require careful consideration.
5. Competition Analysis:Competitive Landscape: Assess the competitive landscape in your chosen industry. If the market is saturated with similar solutions, it might be challenging to differentiate.Barriers to Entry: Problems that have high barriers to entry can be more difficult to solve, but they also present an opportunity for disruption.
6. Resource Requirement:Technical Expertise: Evaluate whether solving the problem requires specific technical expertise that is not widely available.Capital Intensity: Problems that require substantial investment may be difficult, but they can also lead to high barriers for competitors.
7. Scalability and Impact:Scalability: Consider whether the solution can scale effectively to reach a broader audience. Scalable solutions often require innovative thinking and robust infrastructure.Long-Term Impact: Assess the long-term impact of solving the problem. Problems with lasting significance often present more substantial challenges.
8. Feedback and Iteration:Continuous Feedback: Engage with potential users or stakeholders to gather feedback on their pain points and challenges. Iterate on your ideas based on real-world insights.Pilot Programs: Consider piloting your solution in a smaller, controlled environment to test its effectiveness before scaling.

This is great, but where do I get started?

Choose that one part of the problem you are most familiar with and have the highest likelihood of solving. Start with it and iterate unless you have a working prototype. Take it to potential users and ask for their feedback, use it to iterate and go back to the users again.

How did you go about it?

Its a journey but this article by Jane Yettram has covered the Trumsy story in depth and detail.