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How did you find a problem worth solving? (alien.top)

submitted 10 months ago by Snukers115@alien.top to c/entrepreneur@indiehackers.space

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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?

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[–] WhizzlePizzle@alien.top 1 points 10 months ago (1 children)

Only if the segment is not saturated. Good luck finding a niche.

[–] kabekew@alien.top 1 points 10 months ago (3 children)

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.

[–] munchy50002@alien.top 1 points 10 months ago

Could you give me an example, I’m curious!

[–] WhizzlePizzle@alien.top 1 points 10 months 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.top 1 points 10 months 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.