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Your startup needs to solve an impossibly difficult problem

TechBrunchBy TechBrunchNovember 2, 20232 Mins Read
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Mediocre founders can't clearly articulate what's difficult about the problem they're trying to solve.

I discovered something worrying Startup founders seem to think that running a startup is, in effect, a get-rich-quick method. Apart from the fact that that way of thinking is wrong and naive, I think there is something more insidious at work here. That's a fundamental misunderstanding of what startups are for.

All businesses exist to exchange money for value. Your local lemonade stand will: Do you have a dollar and you're thirsty on a hot summer day? You can trade that dollar for a drink (if that's your thing, entrepreneurship in action) (You can also get the pleasure of seeing it).

The point is that most obvious problems with obvious solutions don't require a startup. These markets are well covered by incumbents. This is where technology startups emerge, combining a desire to solve problems with a hunger for disruption. Taking advantage of an unfair advantage (usually technology, but can also disrupt other aspects of the value chain, such as business models, logistics, services, etc.) Pricing models), and bold ideas mean startups can take on the challenge of solving big problems.

If the problem you're trying to solve isn't inherently difficult, that in itself is a big problem for a variety of reasons.



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