What Problem Are You Solving?2 Oct 2013
Brands are often guilty of talking too much about themselves, about who they are, what their attributes are (300 horsepower, 15% more peanuts!), what they do (we’re a design company), etc.
Sometimes, you need to define the problem you’re solving, or redefine the problem in a way that makes it easy (or easier) for the consumer to see how and why your brand is the answer.
Rx drugs have done a great job of problem definition.
When Pfizer created Viagra it also created the problem state ‘erectile dysfunction’ to make it easier to understand, talk about and lessen the stigma of this ailment among men and women.
Kleiner Perkins, the venerable silicon valley VC, has an incredible track record of finding, investing and then exiting start up and internet companies.
While business plans are disected, analyzed and partners vetted, it is said that during the interview process, Kleiner Perkins partners often confront and surprise founders with one single question: “What problem are you solving?”.