With the christmas festivities over and done with, it’s easy to settle back into your same old routine. Instead, shake up your new year and do something about that problem which keeps on bothering you. Push yourself to create a solution, and 2018 could be the year you start a successful business.  

Identify the problem

In day-to-day life, we all notice things that could be done better or we simply endure the problems we think have no solution. Now is the time to identify the one problem you’ve been itching to solve.

Whether you want to improve the way health and safety reviews are carried out or make financial advice easily accessible, it could be a great business idea.  

Starting a business from a problem

The most successful businesses solve a problem for people. This is because if your product or service makes their life easier, people will want to use it.

When identifying the problem you want to solve, ask yourself the following questions:

• How painful is this problem?
• How many people have this problem?
• How passionate are you about fixing this problem?

Depending on the answers to these questions, your problem could have the potential to turn into a profitable business.

The problem you choose needs to be big enough or cause enough pain that people want to use your solution. In addition, if your problem only affects a handful of people in the world, it won’t scale. And finally, if you don’t have the passion to solve the problem, how can you expect anyone else to buy into it.

Don’t solve your problem alone

Remember, if you want to start a successful business you must become the expert in the problem you’re solving, but that doesn’t mean you have to go it alone. The Cofoundery model reduces the risk of failure and relieves your workload. You actually only need one day a week to launch a startup!

Learn more about our free mentorship here.