I’m new to this sub and I’ve done some poking around. It seems that the unanimous advice in this sub for people looking to become an entrepreneur is ‘find a problem and sell the solution’.

I’m from a poor family and I’m just a simple working folk. I’ve been trying to think of a way to break free from that life most of my adult years but have never found a way to make it happen.

So my question is. Since I’ve been trying to find a problem to solve for most of my life and failing to do so. How can I make a shift to really find that problem I can solve? It seems most people in here have businesses. What problem did you solve and how did you figure out that problem to begin with?

  • WhizzlePizzle@alien.topBEnglish
    1·
    1 year ago

    Yeah, but that’s not what you wrote.

    And high barriers to entry means exactly that - high barriers to entry. I suppose I could start a nuclear power plant for $10 billion. High barriers to entry - I’ll have it made when I bring that power plant on like in 20 years.

    Barriers to entry include:

    • Economies of Scale

    • Capital Requirements

    • Brand Loyalty and Reputation

    • Patents and Intellectual Property

    • Regulatory Barriers

    • Access to Distribution Channels

    • Switching Costs

    • Network Effects

    • Experience and Expertise

    • Government Barriers and Licensing

    • Access to Resources

    • Cost Advantages

    • Predatory Pricing

    • Brand Advertising and Marketing

    • Cultural and Social Barriers

    • Supply Chain Control

    • Government Subsidies or Support

    • Exclusive Contracts

    • Customer Loyalty Programs

    • Barriers to Exit

    • Time and Learning Curve

    • Environmental and Sustainability Standards

    • Crisis Resilience

    etc

    .

    Which of those barriers should I select when starting a new company and have no money, no brand to give loyalty to, no patents, no regulatory barriers, etc.

    I got fuck-all of any of those things above.

    I’m curious as to your response.