A solution statement is a single sentence that identifies who you serve and what you do for them (the solution you provide).
For example:
“I help women thrive after a tough break-up”
“I help the elderly plan their travel”
“I help new entrepreneurs identify their market”
The template for a solution statement is “I help (who) with (what)”, or “I help (who) (verb) (what)”.
A solution statement can keep you focused as you develop your business.
To create your own solution statement:
Step 1. Identify your community (who you want to serve)
Step 2. Identify what the community needs (generate a list)
Step 3. Identify the market (pick one problem to solve)
Once you’ve identified the community you want to serve, considered the community’s needs, and selected one problem to solve, you’ve identified a market. The solution statement is simply the result of that work. Whatever you come up with in step 3, that’s what you put into your solution statement (the who and the what).
Then you can proceed to the next steps of checking if they’re willing to pay to solve this problem, and eventually creating a product or service to solve it.
Compass
After you create the solution statement, continue to market research.
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