Defining Your Vision

All great ideas share one thing: They can be communicated simply and powerfully. Whether it’s a business concept, a film script, or a smartphone app, the so-called “elevator pitch” is useful not only for getting your ideas across to customers and investors, but also for keeping you and your team on track throughout the development process. In this post, let’s consider some questions that will help you find and isolate the simple touchstones that set your idea apart.

What fundamental problem in the world are you trying to solve?

Your business idea should solve a problem. What do we mean by that? Successful companies are born from a novel solution.

Let’s take a look at Uber, the peer-based ride-sharing app, which was created to bypass many of the hassles of classic taxi cabs. The problem? Wait times, bureaucracy, payment complications and missed connections. The solution: By connecting riders and drivers directly and automating the pay process, Uber used the current state of technology to rewrite the whole process.

Likewise, Netflix has redefined its own industry several times over the course of its success: First by shifting movie rentals away from brick-and-mortar stores into the mail, then by using advances in internet usage and availability to remove physical media from the equation altogether. Now that streaming television is becoming the norm, the company is taking things even further, creating original high-quality content that bypasses the entire studio/network legacy.

Why are these companies so successful?

In both cases, the company addresses the problems of a dinosaur industry by redefining delivery and services in terms of modern use, rather than the cluttered existing infrastructure. Instead of accepting an industry at face value, with all its inherited and unnecessary history, their success comes from looking at our needs and problems at their most basic, and then addressing them strictly by the rules of the world we live in now.

By defining your vision simply, in terms of a fundamental problem and your brilliant solution, you can keep those old ideas—how we’ve always done things—from infecting your new solution.

An Opportunity for Disruption

Across several industries, decades of business practices, standards and old technology have created a situation that we presume to be the best the free market can do. We’d like to think that all companies and industries are constantly evolving, but the truth is that if nobody has a real interest in upgrading the state of their industry—if nobody cares to “fix” it—then it isn’t really “broken.” Nothing ever changes in a static system like that.

But this very stasis is what creates the fertile ground for your idea to bloom, when you can get your solution across in a way that really demonstrates its power. And the best way to do that is to focus purely on these two concepts:

The problem nobody has noticed.
The solution nobody has thought of

Once you’ve identified the problem, it’s time to strip away the old thinking about “how things are” and get to the central core of your solution. Remember, it’s about communicating your idea in the simplest and most powerful way.

Next, we’ll talk about taking that solution to the next level by defining your business idea at the rudimentary level: Creating a team, addressing your real-world concerns, and of course developing your profitability strategy so that you can bring your idea and your solutions to the people that want them—even if they don’t know it yet.

resource : http://blog.masscatalyst.com/defining-your-vision/?utm_content=13605054&utm_medium=social&utm_source=linkedin

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