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It Is Not Obvious to Others

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The unique blend of experience, insight, and passion that each entrepreneur brings to the table—his or her entrepreneurial thumbprint—is a key decider in what makes an opportunity great for that person and not for another. If a problem exists that a customer is aware of, then the idea of solving that problem is an obvious one, along with some ideas about how to solve it.

Remember that ideas are not opportunities. An entrepreneur with the right background, experience, and talent may see an executable solution to a problem. Because of his or her unique thumbprint, this executable solution might be a good opportunity. Others who are looking at the same problem may not see an opportunity so easily, if at all.


Q: What about problems that customers may not be aware of? How do you solve a problem for a customer that they themselves don’t have in focus?

Answer: A great example is the story of the iPod. iPods solved a number of problems for consumers that they hadn’t even realized were problems. The ability to keep a library of songs right on your device, to make custom playlists, and to deliver via download instead of making a trip to the store made products the iPod a clear winner over traditional CD players. The consumers who purchased iPod didn’t have a burning need to replace their CD players. They were responding to the ways in which new technology provided a superior solution to how they wanted to experience music.

Starting a Business QuickStart Guide

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