By definition, a solution is an answer to a problem. So if there is no problem, then by logic there is no solution. A problem has to precede a solution. Finding the right solution starts with identifying the problem. So once we know what the problem is, we can set about planning on how to find a solution and how to actually resolve the situation.
Proactively look for a consumer need
When an entrepreneur starts a new business – he has to proactively look for a consumer need that is not being fulfilled by available offerings. He has to thus identify what is lacking in the market. He then has to ensure that he has the means to satisfy that need and then gather the resources to meet those requirements. Finally he has to see that the product or service reaches those it is meant for. He thus solves the problem of unmet needs by providing what is not present currently. Businesses are successful when consumer wants and desires are fulfilled. If the entrepreneur goes wrong in any of the steps, then the likelihood of succeeding does down.
There are entrepreneurs and businessmen who often come up with a great idea or concept. They risk their money and time and assets in creating a new product or service which they feel is going to revolutionise the market. Many of these products and services do go on to become major successes and become well-known brands but that happens only if consumers see a value in them and are willing to give them a shot.
Slog and keep persevering
But in most of these cases, success does not happen overnight. Entrepreneurs have to slog and keep persevering in the face of obstacles even when they stumble and fall. If they truly believe that their innovation (or solution ) can satisfy an unmet demand, they should have patience and not give up – rather they should continue to work on things till their creation succeeds. It is an uphill task because they are trying to meet a need which the consumer is probably not even aware that he has.
So not only does he create a solution, he then has to create a need for his solution. This has to be followed up with strategies to convince the consumer of what he or she is missing by not buying into the new product or service. Finally the consumer has to be persuaded to spend his or her hard-earned money on it.
Easier the other way round
It’s a long shot because not every brainwave the entrepreneur has can be converted into a saleable product or service that the consumer desires. No matter how much the entrepreneur loves his idea or service, if all signs point to it not being “wanted” then it is time to move on and try something else – maybe tweaking or modifying the current offering or creating something totally new. In the meanwhile a lot of money, time, energy get wasted due to matters being approached from the wrong side.
Things go a lot easier the other way round – the more conventional way of tackling matters. As long as the entrepreneur does due diligence on his initial research, his target consumer, his product features, the logistics, production, personnel and marketing end of things, his ideas and concepts have a very big chance of becoming the next big product or service in the global market.