Cool ideas vs. solutions to problems

Cool ideas vs. solutions to problems

If you are going through the action items for picking your niche and trying to figure out what services to offer based upon your skills or the skills you can acquire, give this a read!

How Does Economics Fit Into Our Offer?

Cool ideas are just that. They are nothing more than cool ideas. Basic economic principles will tell you that two things exist for a person, needs and wants. The main difference between the two, is that a need is essential for survival (food, water, oxygen, etc.) and a want is not (new shoes, iPhone, Macbook). When we are creating our offer, mastering our message, picking our niche and talking to prospects, we need to make sure our services somehow fit into the perceived "needs" category of the market and not the cool idea "wants." 

Now this does not mean to start selling water to people in a coaching program or monthly retainer fee, but it does mean that your services should be aligned with what a person *perceives as their needs for survival. This could be helping their business stay afloat and increasing revenue, helping people lose weight and get off blood pressure medication, or coaching entrepreneurs on how to grow their business in a specific niche, etc. Even though the services just listed are not absolutely essential to survive, they do go hand in hand. If a business owner has more money in his account because of you he will be able to buy food, shelter, and water. If somebody loses weight, their confidence will increase, work productivity will be more efficient, and their happiness will make their lives way better. Offering a solution to a problem is the key...not cool ideas. 

Picture this...

If you take the next 12 months of your life developing a new social media platform that was meant to rival and take over Facebook, there would be a ton of effort involved with creating, developing, troubleshooting, and implementing the platform. You believe in your heart of hearts that this is 10x what Facebook could even imagine to be and your software, engagement, and development are all greater. 

What is the problem here?...

If everybody around the world still enjoys Facebook and like using it, than they do not have any problems with Facebook. They are not looking for a new platform. They are happy where they are at and do not see the benefit with switching to your platform because there is no pain associated with using Facebook. This new social media platform was just a cool idea. 

Now think about what Snapchat is for a moment...

For starters, its user right now are that of a younger demographic, and it promotes privacy. Boom...just like that in 10 seconds or less it's gone. As the parents of the younger demographic started appearing on Facebook, the young adults "lost" their privacy. Now grandma could see there pictures from the party last weekend. So, what was the solution to that problem or "pain?"....Snapchat. 

If you do not want Grandma to see your party pictures, take them on snapchat, put them in your snapchat story and choose who gets to view it.

How can you implement these strategies? 

You may have the coolest idea the world has ever seen for a particular niche, but if the current market does not have a problem associated with that idea...it is not likely that the majority of people will be willing to pay $xxxx for the "cool idea." Finding out what the current market's problems are and what problems they need solved, then using your skills or problem-solving skills you can develop a course of action to offer a solution to sell to the niche that will help them.