[read time: while waiting at the barber]
What problem is my product / service trying to solve???
In the first stages of any business, there is a lot of excitement around developing a brand, product launches, networking and showcasing your great idea. Great ideas generally start because the entrepreneur sees something that potentially others don’t:
They see a problem that needs to be solved.
It might be a product that can be developed more efficiently, a service that can be performed with higher quality, or just a need in society that is not being filled at all. However, as revenues start to grow – and grow rapidly in some cases – it is common for some businesses to slip away from offering products / services that solve the problem they were initially designed to solve. Furthermore, to build on the success they are experiencing, many entrepreneurs start to expand their offering – which is great – as long as the original principles of problem solving are maintained.
As every entrepreneur is aware, there are always countless balls in the air that need to be juggled, distractions conveniently presenting themselves on a regular basis, and obstacles around many corners. To help ground themselves throughout the ‘ups and downs’ of entrepreneurial life, the most successful innovators will recognize that there is this ONE question that they “moustache” themselves from time to time.