The most important part of solving a problem is getting a deep, clear understanding of the problem itself.
This step is too often underestimated as the will to prove a concept and find validation pushes people to rush the build of an MVP.
Creating an MVP is seen as just a way to prove a concept in order to get funding. Things are done ‘quick and dirty’ and without really understanding the problem one is trying to solve.
The reasoning is simple:
I want to check if the idea can work and, if I have to fail, I want to fail fast. If the idea is good I will surely find someone to invest money and build things properly.
The first part is indeed correct:
‘fail fast’ is one of the mantras of any successful entrepreneur.
The second bit not so much.
Investors are always looking for much more than a good idea.
Solving a problem 101
Understanding the problem means to be able to easily answer some fundamental questions in a way that anyone could understand.
- What are the origins of the problem?
- Who is really affected by this problem and in what measure?
- Why no one solved this problem before?
- Where can I find more/better data on this problem?
- How can I break down the problem into more manageable and easily testable concepts?
You understand where I’m going with this…
This helps you making better use of your resources and puts you in a much better position to find a solution and to raise funds.
Knowing the problem you want to solve is not just about finding something that works but it’s about getting all the elements for you to pick your strategy, the tools and the team to help you.
At Soleed, getting a deep understanding of the problem is the first and most important part of our 3 steps process and we go to great lengths to make sure this is done right:
We have learned the importance of looking at a problem from as many angles as possible and that’s why we all study the problem, share findings and work towards a solution that covers all the aspects.
This is how we set up our project for the next two steps:
- Choosing the right tools
- A superb execution