YES! Now that’s a good question.
I come in contact with a lot of SaaS founders and business owners (or the wannabes) that ask the wrong questions. You can tell when their mindset isn’t in the right place.
Fixating on bad questions means pouring your mental energy down the drain and wondering why your business is flushing itself out to sea.
So when I hear someone ask an AWESOME question like this one, it makes me want to celebrate.
As a business coach and investor in 40+ startups, I’ve learned to spot the red flags of a business that’s going to struggle versus one that’ll take off like a rocket to the moon.
And without a doubt…
The size of the problem you solve determines your potential for growth.
(Ok, there’s a bit more to it than that.)
I want to help you choose a good business idea from the start, so let me show you my process for finding SaaS-solvable problems in this week’s video:
Exclusive Resource: Idea to Exit Mini-Course – Learn How To Build a Product Without Spending Money & True Customer Validation
These are the 4 places you should start when hunting down the right problems:
- Spreadsheets – They’re an absolute gold-mine
- Your Own Pains
- Custom Built Solutions (Just turn it into a SaaS)
- Trends – ride that wave.
The money is in the problem you solve.
Over 2 years ago, I published a video on building a $100 MIL+ company in 3 years and my first point was: you’ve got to solve a really big problem.
Months ago I interviewed Toby from Shopify who became a billionaire because he found a really big problem and created a fantastic solution.
So if you want to get good at business…
Get good at finding problems first.
Fire up the video right here and learn how to tap into pain points that people will pay for. Drop me a comment while you’re there. I love hearing from you.