I think that companies that can solve real problems are the companies most likely to stick around, long term.
Though, defining what a real problem is — is not obvious. In fact, often times, we do not even know what our problems our. It takes brilliant minds like Steve Jobs and Elon Musk to point them out.
So here is how I define what a hard problem is.
A hard problem does three things:
- It is a common struggle…AKA not a niche. The problem pertains to a lot people.
- The answer is not obvious…If anyone can solve the problem intuitively, or even at first glance, the problem is not hard enough.
- The solution will fundamentally change people’s lives…With the solution in hand, people will go about/look at life differently.
If you can find one of these…then you are on to something
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