I love problems. In problems lie the success of an entrepreneur. Problems set the creative juices of an entrepreneur churning and give them the opportunity to find a solution that could change the world. Problems are an entrepreneur’s best friend and guide.
Some may argue that there are different kinds of problems unique to each person based on the situation they are in. But the reality is that there is only one kind of problem: The problem that is worth having is the problem that is worth solving. The rest are deeply rooted barriers in your subconscious that can be easily overcome.
There are two possible sides to your problems: one, how you overcome problems you face in your day-to-day life as an entrepreneur, and two, how to turn those problems into opportunities.
Make Problem-Solving a Positive Experience
The most important factor in solving your problems is to turn problem-solving into a positive experience.
To do this, you first need to identify the problems you're facing. Write down your problems on a piece of paper. List out all the concerns that you have with regards to your current situation. What you’re essentially doing is bringing out all the negativity associated with the problems onto a piece of paper and putting it in front of you.
Then, create a separate list of what you would do or how your situation would be if this concern or problem did not exist at all. This gets you into a happy state of mind and itself is a game changer, as that will get you better results than being in a negative state of mind.
Now, with this new state of happiness, start talking about your problems with your network. Share your concerns openly. Only when you start to share your concerns and problems with others do you embrace serendipity. You’re enabling luck to work in your favor.
For example, if you’re concerned about getting funded, talk to as many people about your problem as you can. You never know who might connect you to the right people.
Turn Problems Into Business Opportunities
This next step is a goldmine if you do it right. If you have a problem, it may actually be a good thing, because it gives you the opportunity to figure out if there are other people like you who have the same problems and concerns.
If they do, and chances are they will, you’ve got yourself brilliant business potential. All you need to do is find a creative solution to that problem, and you’ve got yourself the start of a winning business plan with ready customers.
But how do you find solutions? Go out and share those problems with others and let the collective pool of wisdom suggest solutions for you.
As for the objection that someone might steal your idea if you share it too widely: In truth, business is not really about the idea. It's about the idea's execution. They may not have the same customer insights as you have. They may not have access to the same research findings as you have. If you can execute the solution best, you will have the upper hand.
So go out and share your concerns, whatever they may be, so you can be happier and more successful at what you do. Embrace problems -- after all, today's problem might just become your next startup idea.
The Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world's most promising young entrepreneurs. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons.