OML #013 Entrepreneurship Is HARD! 😵

Sharing Key Lessons In My Entrepreneurship Journey So Far.

Author

Nelson Ng
November 13, 2022

Hello beautiful people! 😇

(and welcome, my +2 new friends to Ohh My Life!)

It's been a while I last updated this newsletter. My big apologies! 😅

I've been busy working on my entrepreneurship journey.

AND ... IT'S GOD DAMN HARD! 😵

Let me share with you some key lessons so far.

1. Find A Problem To Solve, Not A Solution To Fantasize.

What's the first thing when we talk about brainstorming? IDEAS!Often, we start brainstorming of solutions without understanding the problems.

Problems = Business Opportunity

If someone's willing to pay you to solve their problems, that's adding value.

So, here's a suggestion: instead of writing down your startup ideas (solutions), write down what problems you've faced.

Hint: When you hear many people grumble on a certain problem, that's where the opportunity lies.

Example: angry people queuing up at the airport for boarding pass (solution)

2. Talk To Users.

In order to find a REAL problem, you need to talk to users.

I made this mistake myself by not talking to users early on. Instead, I fantasize on my assumptions - I think this ... I think that ...

The closer you are with the users, the easier to find the REAL problem.

Here are some questions you should ask:

  1. What is your biggest problem in [the task you trying to solve, i.e. hiring fresh grads]?

  2. Why is that a big problem? -> to capture the root cause

  3. What have you done to solve the problem? -> if they did something, this is a more crucial problem

Slowly, you'll see a problem pattern (hopefully!)

And, that’s all for today. ❤

I'm still learning everyday on the entrepreneurship journey. If you're also on this journey, hit me up. Let's crack the code together :)

📢 If you enjoy this week’s insights, share them with your friends! 🙂

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💖 MY FAVOURITE THINGS

🧾 How To Get Startup Ideas by Paul Graham

Written by the GOAT in VC space.

📽️ How To Conduct User Interviews? by Y Combinator

Powerful framework to get started with finding the REAL problem.

💭 QUESTION OF THE WEEK

What's your biggest problem?

👉 Share your thoughts with me by replying to this email.

👉 Any suggestions? Email me or DM me on LinkedIn or Twitter.

That’s all for this week. Stay awesome and see you next week!

To A Fulfilling Life,

Nelson @ Ohh My Life