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How do you find profitable problems to solve for businesses?

It seems kind of odd to ask as a question, but I’m tired of working on apps that don’t have a concrete audience, I want to make money solving real problems that real people immediately have.

I’m thinking about going as far as emailing business owners in the area and asking about the toughest challenges they face running their business and finding a potential big problem to solve with software.  Perhaps working with them and then selling the software created to others in the industry.

Has anyone had any luck doing something similar? What was the experience like?

  • I’d wager most SAAS founders came up with with their initial idea/product because they saw a need for it at their job, whether with their own company or a client needing it. I thin kit would be hard to develop a SAAS product if you’re just at home working on social consumer apps or whatever. I would join a tech company and be aware of my surroundings and for things to solve.

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  • I think this is a wonderful idea! When I saw a fit for my startup I started speaking with people so see the viability and through that I decided to move forward – we’re launching at the end of the month.

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  • I am not associated with this, but here is a course on exactly that.

    http://thefoundation.com/

    There are many accelerators all about it. Have you heard of “Lean startup” and Lean Launch Pad?

    Get out and talk to the other humans.

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    • Saw the video for “The Foundation” and it just came across like a late night get rich quick program. “Dane’s whole purpose in life is helping others succeed”. Uh Ok. Thank you Tony Robbins!

      Look up Steve Blank’s stuff and the “Lean Canvas”.

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      • +1 on the foundation comment. Site says “After 2 years of getting asked to teach his methods… he finally creates…” WTF.

        Also scammy is how it is not stated anywhere how much their course costs. Then in their application process, they ask: “What is your personal financial situation? How much investible cash do you have right now?” Sounds like a filter to find phishing/fraud victims.

        Best part, the acknowledgement email says: “We will be announcing acceptances from Nov 15th 2013 onwards.” Guess the biz isn’t working too well if your emails are still using 2013 dates…

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        • The foundation does seem a bit cheese, but I can tell you that a friend worth an absolute pile of money (from other businesses) is doing it just for the experience (no software experience under his belt), and he’s stringing together quite the nice little SaaS startup following their methods. Its exceptionally hard for me not to be skeptical of that video too.

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          • The current class graduating next week, it cost them $5000 or $10,000. The difference in price is how many “personal sessions” via skype you had with Dane. This program offers some good content, but it is basic business content that can be found for free online, or the tons of business books already out there. Why spend that kind of money? Oh, right, because Dane’s sales pitch is you become “his family” and that no one else in your life will understand you like “we do. We are like minded. Rid yourself of your family and friends that don’t believe.” Yep. Heard it myself. I’ve watched him on Skype, crying that he just loves us all. Sure, he loves to take advantage of people that are seeking financial freedom at any cost that are emotionally vulnerable. He said only people that have made 6 presales would go to the event in June. Well, why is it open to all now? Why was all those “no-show” people in the “groups” a no-show…maybe they were FAKE? This man is an expert marketer and has his friends, male and female, working this system for him. He touts how he is making $40K a month – um, yeah, by taking all of your money! And since when does a business person use a type of therapy that is questionable? Is he a therapist? Messing with peoples minds. Oh and if I want to continue to chat with Dane via a group Skype, I have to pay a monthly fee. Check his website, maybe I should jump on the 90 day program so he can really change my thoughts and beliefs so I can just give him the account number to my bank? Don’t get caught up in the hype.

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              • Watched my wife in this program. I questioned it but supported her. She never made a presale. She was online a lot chatting with other foundation members. I have lost more money than I want to admit supporting her with this. No one mentioned all the extra costs there are to this. I feel as I am losing my wife now. She has no product, no business, and is going to go out of town in which she was told spouses were not allowed. Why is she going if she didn’t make any sales is my question? Mr. Maxwell has changed the rules more than I can count. Listen to the free things he offers, do not pay a dime or you may end up losing more than money.

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  • I think you’ll have limited success cold-emailing companies asking about their pain points (but no impossible). You may do well to focus on pain points you’ve experienced or those of colleagues that you can work with.

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  • After our first product turned out to be a commercial failure (18 months after starting on it) , I went to interview about 20 companies

    and 10 users in my target market. This time around, instead of presenting a product concept and asking for their opinion on it , I would ask them to tell me about their main objectives, the challenges they would face in their day to day work lives, what tools they were using to help them, whether these tools completly solved their problems, etc. Thanks to that research, we discovered a whole new set of issues that were much higher on their priority list than the problem we were trying to solve with our first product. we focused on one problem and developed a new product, using the information we gathered in the interviews. 6 months later we have 2 paying customers and the beginning of a healthy pipeline.

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  • Stop working on apps… apps are not businesses, they are products. Find something you give a crap about and start exploring it and start asking basic question of Wouldn’t it be cool if…

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  • I’ll echo recommendations to check out Lean, Steve Blank and Eric Reis for an understanding of how testing and validating will shift you towards an actual value creating product.

    Would also agree with thinking beyond producing an app, pivoting away from a mobile application has allowed us to develop a concept that is disruptive with far more reach.

    Why not get some meet ups in the field you’re interested in, network with potential users and get familiar with the issues they face?

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  • Try Steve Blanks course the Lean Start Up on Udacity, it might give you some ideas. It’s really good and best of all free. In it Steve Blank distills all his wisdom on the lean start up

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  • My wife is due home from the “HUG FEST”. The Foundation Live Event. So this weekend was not so full of great content. Five days she was out there and only 12 hours of CONTENT in which she was given more business books, that we already have; listen to Danes friends say how they overcame their fears and limiting beliefs to make a successful business; hugging; hypnosis; option to experience another mind altering experience (drug induced); and more hugs. Rest of the time was ‘networking’ time – hence go see the sites, go to the open bar, less dress up and pretend we are James Bond. I am angry. I spent my money on her doing that? Party and hug? If you are reading this, I beg you to do some serious research about Dane Maxwell. You want to start a business, read above for better suggestions and save your money, and you might be saving your marriage. Happy Father’s Day to me.

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