start a business 2021-10-07

How to Start a Business That Solves Real-World Problems

Creating something new takes time, effort, energy and lots of learning along the way

By Content Writer
How to Start a Business That Solves Real-World Problems

Having a successful business is everyone's desire these days. People try making or flipping products or sell services. If you're familiar with this lean start-up methodology, then you know that it's important to get the right product to market as quickly as possible, and that entrepreneurs should be trying to get out of the building and get their product into the hands of potential customers as soon as possible.

For example: One of the main reasons we created this website was to solve problems in franchise world.  After years learning and understanding the best resources for business, we decide to launch a website that can give you tons of options related to franchise. So, always think of solving existing problems in real world that can help you start and go for a long run. 

Where to Find Ideas

In today's environment, there are lots of opportunities to start a new business. Before you jump into the world of entrepreneurship, ask yourself a few critical questions:

Does your new business idea focus on a problem worth solving? Is it something people will pay you to solve for them? Will your product or service fill a need that is not being met? Does this opportunity have a big potential market?

These questions don't have simple yes-or-no answers. In fact, answering them may be one of the hardest parts of starting a business. But if you can't answer yes to all these questions, think twice before starting.

Even When a Failure Occurs, Don't Give Up

The first time you try to do something, the outcome is rarely what you were hoping for. It's feedback that helps you adjust and develop your ideas and products so they solve actual problems and create value for other people. The first version of Google didn't work very well. The first company Steve Jobs started failed miserably. Still, they didn't stop trying to solve problems and create greater value because the initial versions didn't work as planned. Creating something new takes time, effort, energy and lots of learning along the way.

Their biggest concern here is whether your solution will actually work for theme not. Will it be easy to use? Will it cost too much? Will it be confusing? Will it meet their needs? If you get positive answers to all questions, this is the best time to start.

Founders Must Live In the Moment

Being a founder, you should make sure there's a problem to be solved. If you start out solving a problem that nobody has or isn't really worth solving, it's unlikely that your business will succeed. An effective way to do this is to conduct market research. While this may sound like an expensive undertaking, it doesn't have to be.

You can start by doing some research into the problem that you're trying to solve. Look at online forums or other social media sites where people are discussing the particular issue that you're planning to tackle. Search for news articles on the subject and see if they generate any discussion points. Contact your local chamber of commerce to see if there are any statistics on the problem in your area. Of course, if you aren't able to find much information about the problem online or elsewhere, there might not be many people experiencing it. If that's the case, then perhaps it's not worth solving after all.

Once you've gathered some information about the problems that exist, think about how successful businesses have addressed similar issues in the past. What specific products or services have they provided? How could you improve upon their offerings? What would make your plan better?

Steps to follow

Here's what you need to do in starting:

Step 1: Get really clear on your life goals. What do you want? What are your dreams? Write them down.

Step 2: Sit down quietly and ask yourself hard questions about your current situation. What do you need? What problems are you facing?

Step 3: Take your answers from step two and put them together with your goals from step one. Now you have an idea for a business!

 

 इस लेख को हिंदी में पढ़ने के लिए यहां पर क्लिक करें

Comment
image
image
mobile
address
star franchise india
Related opportunities
  • Generic Chemist is a brainchild of Justmed Pharmacy Pvt Ltd,..
    Locations looking for expansion Delhi
    Establishment year 2020
    Franchising Launch Date 2020
    Investment size Rs. 5lac - 10lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Pharmacies
    MayankGarg is the Founder of Sanjivini Pharmaceutical. Sanjivini provides Franchises..
    Locations looking for expansion Haryana
    Establishment year 2006
    Franchising Launch Date 2015
    Investment size Rs. 10lac - 20lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Bags & Luggage
      a.     India’s 2nd largest footwear brand which offers the most..
    Locations looking for expansion West bengal
    Establishment year 1981
    Franchising Launch Date 1981
    Investment size Rs. 10lac - 20lac
    Space required 600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Kolkata West bengal
  • Kitchen
      Investment Brand Fee Space Staff Exp. Monthly Sales Pro..
    Locations looking for expansion Karnataka
    Establishment year 2015
    Franchising Launch Date 2015
    Investment size Rs. 30lac - 50lac
    Space required 1500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories

Free Advice - Ask Our Experts

pincode
;
ads ads ads ads