I’m new to this sub and I’ve done some poking around. It seems that the unanimous advice in this sub for people looking to become an entrepreneur is ‘find a problem and sell the solution’.

I’m from a poor family and I’m just a simple working folk. I’ve been trying to think of a way to break free from that life most of my adult years but have never found a way to make it happen.

So my question is. Since I’ve been trying to find a problem to solve for most of my life and failing to do so. How can I make a shift to really find that problem I can solve? It seems most people in here have businesses. What problem did you solve and how did you figure out that problem to begin with?

  • kabekew@alien.topBEnglish
    1·
    1 year ago

    High barrier to entry niches especially in the B2B world are starving for competition. Everybody for some reasons thinks low barrier to entry consumer market ideas when they think entrepreneurship. The real money is elsewhere.

    • WhizzlePizzle@alien.topBEnglish
      1·
      1 year ago

      Yeah, but that’s not what you wrote.

      And high barriers to entry means exactly that - high barriers to entry. I suppose I could start a nuclear power plant for $10 billion. High barriers to entry - I’ll have it made when I bring that power plant on like in 20 years.

      Barriers to entry include:

      • Economies of Scale

      • Capital Requirements

      • Brand Loyalty and Reputation

      • Patents and Intellectual Property

      • Regulatory Barriers

      • Access to Distribution Channels

      • Switching Costs

      • Network Effects

      • Experience and Expertise

      • Government Barriers and Licensing

      • Access to Resources

      • Cost Advantages

      • Predatory Pricing

      • Brand Advertising and Marketing

      • Cultural and Social Barriers

      • Supply Chain Control

      • Government Subsidies or Support

      • Exclusive Contracts

      • Customer Loyalty Programs

      • Barriers to Exit

      • Time and Learning Curve

      • Environmental and Sustainability Standards

      • Crisis Resilience

      etc

      .

      Which of those barriers should I select when starting a new company and have no money, no brand to give loyalty to, no patents, no regulatory barriers, etc.

      I got fuck-all of any of those things above.

      I’m curious as to your response.

    • Rational_Philosophy@alien.topBEnglish
      1·
      1 year ago

      Over simplified and easier said than done. More people would be doing what’s easy, that’s just the way it is. There’s very little out there that’s assumed hard but it easier than thought, waiting to be filled.