Many people aspire to be entrepreneurs but if you ask them they will tell you hat  they haven’t started a business yet, and their usual excuse is “Because I can’t figure out an idea for what I want to do yet,” or the more common, “I don’t know where to start.” In both cases, the lack of ideas is what stops this group of people.

If you have this problem just ask this question: what is the pain? If you’re looking for profitable ideas, pick a market and find the problem. How? By asking people some good questions.

There are two most valuable questions you can ask to extract profitable ideas:

  1. What is the most important activity you do in your business?
  2. Do you have any problem associated with this activity?

Once you’ve depleted the person of responses, and they can’t think of any more answers, it’s time to do the most important aspect of idea extraction: validating that you understood what they said.

Simply repeat back what they said for each answer and follow it up with, “Did I understand you correctly?” This process is magical because they will usually respond with, “Yes, and…” What comes after is where you’ll find even more great material.

The whole goal with this process is to find the pain, document it, define it, and then describe it back to the customer better than they can themselves. Once you’ve done that, your customer will unconsciously assume that you have a solution.

And better yet, once you’ve clearly defined the problem, your mind will flood with ideas for how you can solve it.

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