Lesson #9: Solve People's Problems




#009: Solve people’s problems.

Intuit founder and self-made billionaire Scott Cook explains the best way to come up with a business idea: Rather than trying to predict the future, you should find out where the “pain” is today. If it’s something important and people are struggling with it – whether it’s in their life or business – and you can solve it, they’re going to be pretty happy.
He says it’s a pretty simple rubric. Find a big problem that hasn’t been solved yet. And then bring together a solution where you think you can build a durable advantage.

Application:

What are your pain points? Are current solutions in the market not adequate for solving your problem? Can you find a better way to solve it? Chances are whatever pain you’re experiencing is shared among thousands of people. Once you find a solution, will you be able to build a durable advantage?

If you like this post you might also enjoy my book: 26 Lessons From Legendary Self-Made Billionaires.



You might also like my book, The Golden Age: 101 Thoughts on Business, Entrepreneurship, Investing & Technology