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Top Expert Response
The first step is to clearly define the problem you are facing and its root causes. You can use tools like the 5 Whys, the Fishbone Diagram, or the Problem Statement to help you ask the right questions and narrow down the problem. Gather relevant data and information to support your problem definition and avoid assumptions or biases.
Solution: Brainstorming sessions to explore various possibilities, allowing to gain insights from diverse perspectives. To answer the "WHY," with the DVF Theory:
Desirability: Do we have an audience with a genuine need for our solution to address their problems? Viability: Is our solution sustainable over the long term?
Viability: (Is it sustainable long-term?), and scalability (Can it grow or adapt?).
Feasibility: Can the solution be practically implemented? Once we decode these elements, we can be confident that our business will thrive in a competitive market. With this clarity, we can then focus on how to scale the business by developing proper strategies and executing them effectively.
The proposed solutions must be measurable and not vague. Clearly defining the objectives that need to be achieved by the end of the resolution process is key to navigating and overcoming the problem.
Test and validate solutions with customers, stakeholders, and experts. Use tools like the MVP, the Experiment Canvas, or the Feedback Loop to design and conduct experiments and collect feedback. Experience indeed plays a significant role in shaping effective solutions.
Implement and monitor solutions and track their impact and performance. Use tools like the Action Plan, the Gantt Chart, or the OKR to plan and execute solutions and assign roles and responsibilities. Use tools like the KPI, Dashboard, or Balanced Scorecard to monitor and report progress and outcomes.
Entrepreneurial problems are not static but dynamic and complex. Adapt and improve the solutions and learn from experience and feedback. Use tools like the PDCA, Pivot, or Iteration to review and refine solutions and make changes as needed.
Entrepreneurship is perpetual adaptation: adaptable, innovative, and responsive.
Entrepreneurship Communities: Colleagues or friends are great resources for discovering new technologies and best practices: tools or methodologies, and what changes to foresee in the industry. This peer-to-peer offers practical insights and helps navigate the ever-changing landscape of technology.
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