I think it is a wrong question to ask. You should not be brainstorming to come up with a problem to solve. Because you will have no idea if this problem is valuable enough.
A better approach would be to find a customer you would like to serve and just figure out ways of having meaningful conversations with them. Then find out what type of conversations your customers find valuable. And us it as a hints about the valuable unsolved problems in your customers life.
Can you give an example? I want to know how many fans they have? And how many DAU you think will be enough?
How does not hosting other people’s content reduce the marketing cost?
I think it is “5.”
As you haven’t consider the biggest cost involved in creating OF-like platform with 1.25 million DAU. It is, without a shadow of doubt, the marketing cost.
That line item in the cost sheet is the trickiest to quantify.
Because there is a first mover advantage involved. If you can identify a valid niche, it costs very little. People just come to you because there is no where else to go. Like starting a forest fire in summers.
But if you are the second app that is trying to be the new OF, or the 10,000th marketing agency trying get clients, your cost will hell lot more.
That’s easy.
Problems are everywhere. You just need a method to uncover them.
To uncover the problem go deeper into the sentence. At a deeper level we all have faced the same problems.
It is best demonstrated using an example. Here are 10 problems I uncovered from the first half of the first sentence of your post.
I want to open a new business
You can make many variations of this problem based on who is the customer.
Problem 1: How to open a new business if you are stuck in a job?
Problem 2: How to open a new business if you are single mom with no time for a job?
Problem 3: How to open a new business if you are an old couple who are bored after retirement?
Problem 4: How to open a new business if you are a freshmen?
Here you can make variations based on what to open, which will take the sentence to level 1. There you can make further variations based on who is opening.
Problem 5: How to open a pizza shop?
Problem 6: How to open up myself to make a presentation?
Problem 7: How to open my heart for to accept love?
Here you can make variations based on what are your key desires, which will take it to level 2. There you can make further variations by choosing the instrument of fulfilling these desires.
Problem 8: How to be happy?
Problem 9: How to be rich?
Problem 10: How to be healthy?
Four years ago, I found myself lost in a corporate job. I decided to stay there for one year just to be sure. I knew I will be out soon. I just kept my patience for the longest year of my life. Tried whatever made sense. And the year was long enough for something to stick.
So true.
Your analysis is correct.
I typically use it the other way around. I start with an original idea and an outline and hand it off to AI to make it fit the format required by the audience.
For example, you can write an original and new post about a generic problem, like “How to deal with cheater?”, then ask ChatGPT to mold it for the photographers, web developers, carpenters, and middle aged husbands.
In the end Chat GPT is just a tool. It’s usefulness is proportional to the creativity of the user.
Yes, it is a viable strategy. But you need to be clear about your expectations from the partnership and find a partner who meets those expectations.
Answer depends upon who/if you are partnering.
You can use this as a bechmark solution because you can get an idea about the returns very quickly and accurately.
Then you can judge other options by comparing them with this one.
I think you are looking for a demand side solution for a supply side problem.
Do you have other options for quicker restocking? It’s okay if those options are costlier. As everyone is suggesting are in a position to put a surge price.
I am not a medical professional. But I understand exposure therapy is sometimes effective at treating agoraphobia. What you are suggesting looks opposite of exposure therapy. Do you think it will be a net positive for your customers?
Do you have any information about how many customers are willing to buy the add-on? What if the market size for the set meal is only 5-10% of the market for the rolls? In that case, reducing the price will not increase sales and only hurt the revenue.
Adding to what u/siew-dai-kia said, you can easily make this estimate by visiting Sangwoo Street.
Have you considered other fields related to instrumental music that are booming right now? For example, game music designer, voice experience designer for apps like alexa, or maybe just a techno composer for meditation apps.
Don’t worry even the best of us have weaknesses. Have you ever thought about teaming up with someone who can take care of those parts of the business? I am sure there will be someone who loves marketing but can’t do sales.
Good exploit my friend. Your options are endless. Do you have a hobby, interest, passion or preference you always wanted to pursue?
Congratulations you have the most important skill in business. Business starts only after a sale happens. How comfortable are you with the idea of selling things online?
I agree, its really hard to find genuine advice. I go one step further to say any advice no matter how well intentioned has a very low value for the person receiving it.
Here are my chief reason.
When someone gives you an advice that solves your problem, they robe you of the skills need to solve such problems in the future. And if you succeed all the credit will go to your advisor. However, in case of a failure it’s you who would fail.