Startup Rule #3: Solve A Pain Point

Ask yourself what pain you solve? You have to solve a consumer or industry pain point. If you don’t you’re just another copy cat product or service. Does it make it easier? quicker? cheaper? Too often startups fall into the trap of creating something they think is neat or cool and fail to ask this basic pain point question.

For example, lets say you want to open a coffee shop. OK, but what pain point are you solving? Is there a lack of coffee shops in the area? Is the current coffee offering too expensive or of bad quality? Is there a convenience problem with the current offerings? You have to ask these questions, you have to ask potential customers these questions. Only then will you create something that brings value to the market – because you will in some part help solve a market pain point.

Say the problem with the area in convenience. You have to find parking, you have to walk in, you have to walk out, the weather is always bad half the year. The pain point is convenience. Sure the current offerings are doing just fine, but there is opportunity in solving this particular pain point. A potential answer – drive through service. It’s quick, it’s easy, I don’t have to park, I can stay in my car, I’ve created my own market position.

One company that did ask is Dutch Brothers Coffee with 124 coffee stands in only six states.

When you solve a pain point you create new market space, you change the game. For that reason Startup Rule #3 is Solve A Pain Point.