Finding the Problem is the Hard Part

Posted by Fitz Villafuerte under Business, Inspirational on June 20, 2012

How do you come up with a good business idea? The simple answer is to find a solution to a problem.

This, I believe, is the most basic foundation of all successful businesses: People buy a product because it solves a problem they have.

Always remember that the next time you’re brainstorming for a business idea.

Moreover and interestingly, Kevin Systrom, one of the co-founders of Instagram, says that coming up with a solution to a problem is the easy part; and finding the right problem to solve is the harder task.

So how do you know if your business idea can provide the value that people will be willing to pay for?

Watch this three and a half minute video clip and learn how Kevin and the rest of the Instagram team, found success in a mobile app that delights millions of people today.


Instagram was launched in October 2010. Seven months after on May 2011, the same time when this talk happened, the app was already a worldwide success.

A year after, in April 2012, Facebook buys Instagram for $1 billion.

That’s zero to a billion dollars in just two years – a testament that nothing is impossible today.

Now, it’s your turn to find a billion-dollar problem to solve.

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4 Responses to “Finding the Problem is the Hard Part”

  1. pezahub says:

    All you gotta do is prepare yourself so when problem arise you’ll take it as an opportunity. And train yourself to be a fast learner.

  2. […] of these are personal pictures, specially today when mobile photo apps such as Instagram have allowed us to share our life easier through daily […]

  3. […] is the primary problem, which the founders of Instagram tried to solve years ago; and look at them now, all billionaires. Advertisement google_ad_client = […]

  4. […] I’m putting up a business or deciding if I want to pursue a project, the first thing I ask is what problem will it solve for the customer. When you become a solutions provider, the money will […]

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