Entrepreneurs choose to start a business for several reasons. These reasons could include wanting to make more money, working for themselves, building their dream career, and many more. However, undeniably one reason will resonate with all the entrepreneurs – wanting to make a difference. Therefore, all the budding founders have founded their companies with one singular motive to improve their customer’s lives and leave a mark on the world.
Any great business impacts the lives of its customers simply due to the value their product or service provides. And, when entrepreneurs can fully connect their company with this belief, they can find more stamina and motivation to go a little further than their competitors and really make a difference. But, of course, starting a business that could lend invariable aid to customers is a vague and ambiguous concept. So, how can a business founder rest assured that their product will matter? One of the best methods to find if the work done by your organisation will be impactful is to look at other successful businesses. So, here’s the advice provided by the founders of some great organisations.
- Find the Solution to Your Problem
A disproportionate number of organisations in the current market have started as a business idea to solve one of the founder’s problems. Cope Notes is a mental and emotional health text app founded by Johnny Crowder. As a fellow patient of mental health disorders such as OCD, bipolar disorder, and schizophrenia throughout his life, Johnny knew exactly what would help him. Following this train of thought, he established Cope Notes to offer hope to text subscribers. Johnny found that a part of his problem could be mitigated by receiving daily positive messages and facts. And so, he found a solution to his problem by establishing his own business. Although everyone wishes to help people with mental disorders, Johnny simply created a solution that could and does help him.
If you find a problem in your daily life that you wish you had a solution for, identify the root problem and start providing the solution. Invariably, there will be many other people like you who suffer from the same problem. These people will become your customers, and you will have a business that does leave an impact on other people’s lives and is not noise in the crowd.
- Connect Your Business with Your Work
Most business owners start with a job and find work they are passionate about and work in for extended periods of time. As a result, they have established networks in the said field and maintaining the business becomes an easier task. When you tap into your passion and connect your business with fields you have previously worked in; you find yourself utilising the full potential of the field and are always in the right mental space to find new ideas and solutions. The epitome of such a case is that of Dr Patricia Lawman, PhD. She founded the health company Morphogenesis that helps the body naturally fight against chronic disease.
As she had previously served as the Division Director of Cancer Molecular Biology at Walt Disney Institute, she knew where her passion lies. With plenty of experience in the field of fighting chronic illness, she knew what was missing in the current market. From there, it was easy to piece together the business model and identify a solution, and Morphogenesis took off.
- Always Look for Opportunities
COVID-19 was brutal for businesses, but it also presented countless opportunities for new businesses to rise. The reason for increased opportunities is simple. A large number of problems require a large number of solutions. Hence, while many businesses perished, they were substituted by many others. A great example of such a business is Jon Fischer’s CrowdOptic.
Jon had been working in the health tech space for a long time. CrowdOptic had the necessary technology to help and improve medical communities. Hence, the transition to a seamless partnership with National Bioskills Laboratories was very fluid. The move helped the medical community at large by improving the connectivity and benefit from AI integration with bioskills. “It was the perfect opportunity, and I was ready to help,” he explained. Always keep an eye out for challenges that need solutions, for there will be many on the global scale.
- Use Personal Challenges as Motivation
The primary reason why most businesses never see the light of fruition is that their owners tend to turn within instead of going out when faced with a challenge. However, true entrepreneurs use challenges and setbacks as opportunities to give back to society and create new solutions. Consider the example of Daniel Badran, who lost his ability to speak after battling cancer. Instead of focusing on his problem and being discouraged, he channelled his recovery time to start a new business focused on sustainability, Minimise. Similarly, Justin Donald used his penury as an opportunity to understand the importance of opulence. So, he channelled his efforts during the Pandemic to build investing resources for anyone who wishes to learn how to create wealth.
Find your passion and the field of work that you could and would want to work in for the rest of your life. Then, identify your unique skill sets and experience and how you could utilise them to contribute to the greater good. We all have something to offer; founders and entrepreneurs prove how we can give back to society.
Source – Forbes