When you are looking to start a business, whether business to business or business to consumer, I have noticed a common thread: you must be solving a problem. Many entrepreneurs think “you build it and they will come.” This is not the case.
I spent my career in technology, managing large sales forces selling business analytic software to major corporations. People would use our software to solve business problems. As I transitioned to my own consulting practice, the requirement is the same: solving a client’s problem. Think about your product or service offering; in every instance, you must be serving a need in order to build a customer base. This applies across the board to all market sectors: from a store front, a manufacturer, a distributor, and an online app, to businesses of all sizes. When you are able to present your business plan to potential investors and can demonstrate you are solving a need, funding becomes an easier path.
Think STEMA (science, technology, engineering, math and arts) from the perspective of using both right and left brain. We are most creative in our product or service offering and have a better chance of offering a product or service that disrupts markets and truly solves a new business problem.