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Entrepreneur Problem Database
If we start with the assumption that the classical definition of an entrepreneur is to profit as a byproduct of solving real problems where the solution improves everyones well being in the same vein as Henry Ford or Thomas Edison, then there are two big problems today for talented entrepreneurs:
Problem 1: Entrepreneurs pursue ideas instead of problems.
An idea is something that hasn't proven to be a problem yet. And since it hasn't proven to be a problem yet there's no need to find a business solution. When you try to market a solution for a non-existent problem, the result is novelty. Novelty may be profitable in the short term but usually is unsustainable. This leads to entrepreneurs misplacing their time and money. Examples of novelty can be seen in Tyler Cowen's video on the Great Stagnation. The internet promotes more ideas than problems. And genuine problems are difficult to locate, understand or verify.
Solutions to problem 1:
- Create a submission process for filtering real problems from ideas.
- As part of the submission process, peer review submissions through industry experts.
- Submissions that fail peer review, will be tagged as "ideas" instead of "problems".
- Index submissions into long form centralized discussions that are searchable by tags/keywords.
- Promote objective discussions of submissions through citations of transparent data.
Problem 2: Entrepreneurs profit as a byproduct of rent seeking, financialization, offshoring, consolidation.
These business models generate profit from innovation that is not based on the classical definition of solving problems by improving everyone's wellbeing.
Solutions to problem 2:
- Tag submissions by type of innovation.
- Incentivize submissions for classical innovation over rent seeking, financialization, offshoring, consolidation.
- Incentivize discussion for brainstorming publicly available business plans for verified problems.
Do any sites like this exist?
- alexmingoia 6y agoEntrepreneurship is not solving problems. Solving problems is a means to an end, but rarely is the end a problem. Entrepreneurs organize enterprises. Sometimes that involves solving problems in a new way. Mostly it doesn't. Frank Zappa was an entrepreneur that composed and sold music. What problem was he solving? Did he set out to solve a problem, or make music? Zappa made music and connected with people who enjoyed it. He probably solved many problems along the way, but his enterprise wasn’t solving a problem. His enterprise was making great music.
- Mastov 6y agoEntrepreneurship is not solving problems. Solving problems is a means to an end, but rarely is the end a problem. I am not sure I understand what you mean. I will give an example of what I mean by an "entrepreneur solving problems". Example: In the industry I work in you need about 5-7 digital tools to run a business. Currently this industry is very fragmented. So each tool is made by a different sub-division in the industry. The result is that tools don't "talk to each other". There's lots of unnecessary additional steps between tools as a result of "not talking to each other". I would define the "problem" as lack of integration. Solving the problem would be integration. Forgive me but I don't know about Frank Zappa. Are you saying he's an entrepreneur because he's a musician? And therefore all musicians are entrepreneurs? Or are you saying he stands out as an entrepreneur (while most musicians are just musicians)?