“All problems have a solution and when you can productize the solution, you can solve the problem at scale.”
-Jared Yellin
I had a really interesting meeting recently with an extremely successful entrepreneur who was explaining his current tech problem…
The LMS (Learning Management System) that his company uses is suboptimal at best AND they need to use many different software solutions to even remotely handle his needs...
It’s buggy…
It’s inefficient…
It’s restrictive…
It’s just ok…
The reason we were talking was multifaceted but he asked me if I was open to having CILA build his company it’s own membership platform for their 100’s of programs.
My response was...NO.
He was shocked and then I explained…
“You don’t only need a new LMS for your business, but the industry needs a new LMS and why don’t we build a solution to your problem that also solves a problem for anyone looking to build a membership platform since the entire industry of LMS technology is extremely weak.”
His light bulb went on and he saw the vision…
Stop Only Solving Your Own Problem - Productize Your Solution!
Many of the portfolio companies within CILA Labs, which is the tech incubator I Co-Founded, have partners who saw a very specific need in their life and committed to solve it, not only for themselves but for anyone else who has the same challenge.
These are the products I enjoy most because the IDEA person has empathy for others who are struggling because they themselves are hitting a wall.
What’s also interesting is the economics that make these types of products such a meaningful solution because many tech companies simply make up a problem, convince people they're struggling, and then hope that they see value in their solution.
But when someone knows of the pain and can express their optimal solution - the outcome is a meaningful tech company.
You might not see yourself as a tech entrepreneur, but I invite you to answer these three questions…
1- What is an inefficiency in your personal or professional life?
2- What do you wish you can do, but can’t right now because of this inefficiency?
3- What do you think the solution should be?
I am excited for you because whatever shows up might just become your first or next BIG idea!
Let’s have it - here we go!
Live with Intention,
