Trying to digitize or automate everything at once can take years and lead to a lot of analysis paralysis. We see this often when we help people -- they can only see the whole forest and can't zoom in on one tree. They get paralyzed and don’t make any progress. Singling out unmet needs keeps things moving and minimizes this analysis paralysis.
Deliberately and systematically scaling your product one step at a time as a response to the most pressing needs of your customers allows you to efficiently use your time and resources.
More importantly, you will avoid spending weeks or months building a set of features that you’re not sure if your customers will want.
Coming up with new business ideas is hard. Coming up with good ideas that will actually grow your business rather than waste your time and money is even harder.
I’ve been working with businesses of all sizes for 15 years now, and unearthing that next idea that will drive business growth is a universal challenge.
The last thing you want to do is chase after trends or waste time and money on ideas that customers and clients don’t want.
You actually have access to the best people to talk to about new products and services – your current customers and clients!
So what do you do? Where is that next breakthrough idea hiding? I find that time and again, the idea you need is waiting for you to discover it in the same place: adjacent problems.
At The Next Lab, we are passionate about spreading innovation and entrepreneurial skills to everyone who can benefit. We are especially passionate about creating more opportunities for first generation immigrants and women in business and tech.
During the summer of 2016, we held 1-week bootcamps to teach teens the innovation skills necessary to start and build a businesses. And as is the hope with every experience we design, the results were inspiring.