BB2BB002 Five Characteristics #1 - Solve a valuable problem that you're passionate about solving.

Welcome back to Back Bedroom to Big Business! In this week's episode, we take a deep dive with Dino and Simon into the first of five characteristics of impressively successful entrepreneurs: Identify a need or problem that has value to many people and that you (as an entrepreneur) care passionately about solving. This is a foundational characteristic without which success is very unlikely. This is a different way of looking at the beginning of your business because most people escaping their boss use the logic of ‘what am I good at?’ and ‘how can I make money from it?’. As Dino and Simon explain we must realize that business is not all about monetizing skills. We must have another form of motivation! We must look deeper!

In This Episode

Characteristic one: Identify Need

• Our hosts share a few anecdotes about entrepreneurs Sean Rad (Tinder) and Sara Blakley (Spanx). These are two of many business creators who did so out of a problem they experienced for themselves and they were surprised and delighted to find they could solve this same problem for others as well.
• It’s important to know that neither of these, now amazingly successful, individuals had any experience in the business categories they now top! (Dating app & undergarments/fashion.)

We must have an appreciation for the problem or need we’re trying to find a solution for!

Some people stumble upon moments of awareness of needs, but only complain and do nothing. This is because of the lack the passion which is the second half of the equation.

Idea traction - if it helps me perhaps it  could help others

 

“Someone who is entrepreneurial in their thinking will have a thousand ideas an hour. “

“This is about taking a step back. Do I care? Am I passionate about solving these problems?”

“Your solution and your business can go viral!”

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