Road To entrpreneurship -Problem Identification

Hello friends this is going to be a whole series on how to become an entrepreneur and start your startup .  In this series we will cover all the aspect require in starting your startup.
Before we start , since this is going to be a long series  make sure to Bookmark the Blog so that you may not miss any topic .In this series we have covered

• Problem Identification
• Idea Generation and Validation
• Business Models
• Revenue Models
• MVP
• Funding For Startups

Now the very first question arises What is entrepreneurship ? and who is an entrepreneur.

An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures. An entrepreneur is self-motivated and the best way to get motivated is getting a problem that needs to be solved and then solving that problem with your startup that will help others.

Problem Identification

Problem identification and finding its solution are one of the most important aspects of entrepreneurship. As both the founder of your organization and the leader of your team, you'll be responsible for identifying and solving the problems of your customers, partners, employees and your company, in general. Some people think  of entrepreneurial types as creative inventors; if given a blank canvas, they can come up with a product that people will love. But that's not usually the case. Instead, the  most successful entrepreneurs are those who first identify a key problem in the market, then work to solve that problem. Truly identifying a problem means looking   deeper at the symptoms, the customer, the impact, the alternatives, the opportunity,and the relationships between them, while avoiding the “solution bias".

Now when you have found your problem it will help you in further steps in which you should define the riskiest assumptions regarding the problem that you are trying to solve. First of all, brainstorm all the possible assumptions that you might have regarding the problem. Some categories of assumptions are

• Cause of the problem
• Consequences or problem effect
• why this problem is not solved yet

The problem assumptions that are placed in the right upper quadrant of the assumption prioritization chart are your riskiest assumptions and those are the ones that should be tested first through well-defined experiments.
Now our next topic is Idea Generation And Validation.
Do comment below to let us know your view on problem identifiaction.

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