Solving a Problem? Here’s the one question you MUST ask first!

Answers come fast. When times are tough or something bad happens, it seems like there’s always a line of people waiting to offer advice. Everyone has an idea. Everybody has an opinion. But do any of them truly understand what the problem is? Probably not.

After facilitating strategic planning sessions for financial institutions over the past decade, I’ve come to a conclusion. Few things can kill success and momentum faster than running forward with an idea before truly understanding the problem it’s trying to solve. To say it another way, a good solution applied to the wrong problem will always be the wrong solution. Understanding a problem should always be the first step to solving it.

What problem are you trying to solve?

Three transportation companies got their start between 2009 – 2012. Uber was founded in 2009 to solve the problem of people waiting for taxis. In 2010, Gett was launched to help taxi drivers find more passengers. Two years later, Lyft opened for business. Unlike the previous taxi-focused companies, Lyft’s founders sought to solve the problem of college students driving home with empty seats in their cars while students without cars were stuck at school.


continue reading »

More News