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There Are Only 3 Things You Can Do In Business!

Updated: Feb 19

Hey there, fellow entrepreneurs and dreamers!


keys to start a successful business

Have you ever stopped to ponder about the real essence of innovation and business success? It's a mind-boggling fact that less than 1% of all business startups bring a brand spanking new product or service to market. Yes, you heard that right, less than one tiny percent! So, what does that mean for the rest of us not in that elusive 1%? Well, it boils down to two critical paths: making something better or, my personal favorite, taking away a pain.


Let's dive deeper into this "taking away a pain" concept, and no, I'm not talking about reaching for Tylenol. Imagine this: two folks decide to ditch city life for the serene mountains, only to find the nearest grocery store is an hour's drive away. Quite the predicament, right? Then, along comes someone with the brilliant idea to open a modest convenience store right in their little mountain town. Now, this store doesn't need to be fancy or even offer competitive prices. Its sheer presence, its ability to remove the hassle of a two-hour round trip for groceries, makes it a game-changer for the residents. It addresses a significant pain point, and voila, it's a hit!


This scenario perfectly illustrates the power of solving a problem or easing a pain point for your customers. It's about making life easier, simpler, and better for people. So, when someone approaches me, buzzing with excitement about their business idea, I always run it through the "New, Better, Take Away A Pain" test. It's a simple yet profoundly effective litmus test for any business concept.


The New, Better, Take Away A Pain Test

  1. New: Is your idea a groundbreaking innovation that's never been seen before? If yes, welcome to the 1% club! You're on a path less traveled, filled with potential for massive impact and, of course, its set of unique challenges.

  2. Better: If your idea isn't entirely new, ask yourself, does it improve on an existing product or service? Improvement doesn't necessarily mean reinventing the wheel. Sometimes, even the slightest tweak or enhancement can provide significant value to your customers, setting you apart from the competition.

  3. Take Away A Pain: This is where the magic happens for most of us. Does your business idea solve a problem? Does it remove an inconvenience or a 'pain' from people's lives? If your answer is yes, you've hit a sweet spot. This approach can lead to a viable, sustainable business that people will turn to, not because it's the best in class, but because it makes their lives easier.


Understanding where your business idea fits within these categories isn't just an academic exercise. It's a crucial step in validating your concept, honing your marketing strategy, and, ultimately, defining your value proposition. Whether you're enhancing an existing solution or easing a significant pain point, your focus should always be on the value you deliver to your customers.


So, the next time you're evaluating a business idea or trying to pinpoint why your current business isn't hitting its stride, remember the "New, Better, Take Away A Pain" test. It could very well be the compass that guides you to your niche, helping you carve out a successful path in the bustling marketplace.


Remember, in the world of entrepreneurship, being able to identify and effectively address a specific pain point or enhance an existing solution can set the foundation for a successful and resilient business. Here's to innovating, improving, and taking away pains – the surefire path to making your mark!

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