Sunday 4 December 2022

Build Solutions, not Technologies

One mistake that I see many founders making is that they first build technology and then look for problems that can be solved using the tech. This is definitely one of the worst ways to build a startup.

The right approach is the opposite - start with a problem statement and then work backward to build the tech. Go and talk to the customers and understand their pain points or unmet needs. Then go home and build a technology that can solve these needs.

Go back to the customer and show them what you built and take their feedback. Based on their feedback, improve the product and repeat this until the customer says - "Wow! This is amazing! How much does this cost?"

Voila! You got a paying customer! You just built a Product that a customer wants to pay for!

The next step is to convert this Product into an actual business. How do you do that? Find a way to get more such customers who have that same problem statement. This is where Sales and Marketing come into the picture. Here are some ways to get more customers:

- Share about your product and its utility on Social Media
- Reach out to the prospects via email or LinkedIn messages
- Reach out via your networks. Could be a College network or an investor/advisor network
- Be a part of the Social Media groups where your customers hang out

Remember - the Business is about your customers and not about you. So solve the customer problem and reach out to more customers to solve a 'larger amount' of the problem and you'd have a business in place.

I have shared a lot of my learnings about Business and Entrepreneurship on my YouTube Channel. Please check it here:

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