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What Problem Are You Solving?
filed in Marketing, Storytelling, Strategy
Every venture capitalist will tell you that the best startup pitches focus more on the problem than on the solution. A potential investor may give you just a single sentence to make them understand why your idea will succeed in a world where most people have what they need.
And yet, as business owners we get so caught up in our solution that we forget to focus on the problem we solve and who we solve it for. Framing the problem you solve in just one sentence is a great discipline and one that most businesses have never practiced, which is why the ones that do succeed.
The Single Sentence Problem
Warby Parker—Why do glasses cost as much as an iPhone?
Dropbox—People have no reliable way to store, access, update, save and share their files and data from one place, a USB or an emailed file doesn’t cut it.
Mint—’You spend the majority of your life working for your money, but do you know how your money works for you?’
Dollar Shave Club—Men are paying too much for shave tech they don’t need.
Swish Online—Australian bloggers can’t access quick and easy website support from a human in real time when they have a problem.
Uber—Why can’t I just push a button and get a ride?
Now it’s your turn.
Image by Emil Zakhaviev.