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Product & Prototype

[LinkedIn] The Most Valuable Problem: Your Business’​ Foundation

By September 26, 2019March 31st, 2022No Comments

Many new entrepreneurs believe from the beginning that because they experienced a problem, solving it will make a business.

They think, “Because this problem bothers me, it must bother enough other people that this is a business.”

The first stage of Product-Market Fit is Problem Exploring. At this stage, you seek to meet the first two benchmarks: Founder/Problem Fit and Problem/Value Fit.

With Founder/Problem Fit, you’re establishing why you are the person to start this business and solve this problem. This is an important step because oftentimes, this is what you’ll need to prove to investors. Why should they trust you to carry out this idea? Why should they believe in your vision?

When you think about Problem/Value Fit, you’re proving that you’ve found a problem that is actually worth solving. And there are people out there currently suffering from this problem.

This is what your Most Valuable Problem is based on. It’s the painpoint so painful that people are willing to pay you to alleviate it.

Read the full article on LinkedIn.