Build a solution to a problem lots of people have

There is a famous quote by Kevin Systrom, founder of Instagram, that goes: “Every startup should address a real and demonstrated need in the world – if you build a solution to a problem lots of people have, it’s so easy to sell your product to the world.” Wise and very practical words for an uber-successful entrepreneur who knows what it takes to build a great, sustainable business. According to the market research firm, CB Insights, 47% of all startups fail because there is no market need for what they are making. So the question has to be, “What problem or need are you trying to solve with your business? The answer will determine if your business idea is valid, needed and will have a better chance of succeeding. But to build a sustainable business, you’ll need to ensure other people care about it as much as you do. So before you go off and spend your time building anything, make sure you have identified a problem worth solving or a need that requires a solution. Get that right and you might just have a business.