The story of Airbnb is rich in anecdotes on problems that, on closer look, revealed themselves as opportunities in disguise. By simply going through the problem step-by-step, they recognized the asset value of their own real estate under certain conditions, coupled with their ability to provide competitive prices.
A key takeaway for aspiring entrepreneurs is to reframe their mindset towards problems - especially those with existing market solutions – to perceive those as opportunities and to research methods to address said gaps. Watch more videos like this on https://www.adsmehub.ae/en/learn/eye-opener
At its core, research is an attempt to answer a question, such as “How do I get users to flock to my app for downloads/paid subscriptions?” or “How do I get users not to churn (uninstall)/unsubscribe to my app?”. In this video, we will dive headfirst into how an aspiring entrepreneur can address such problems via research, by taking the case study of DuoLingo, the most successful language-learning mobile app today.
Find out in this video how you can identify a problem that you want to solve by following the rigorous steps of objective researching.
You are in the process of designing a product/service. Before you go ahead and invest a lot of time and effort towards this, you want to be certain you are on the right track.
Answer the following questions to understand how best to proceed:
Crucially, how do you evaluate the research? Before investigating such a problem, you come up with a list of questions that you need to answer to evaluate if it is worth digging deeper into.
When these questions are rightfully answered, you can evaluate whether it is worth it to further explore the problem, or if you need to refine your research to a problem that is more specific, broader, or altogether different.
Finally, use all this data to answer the simple question: is my business problem worth pursuing?