Some strategies to identify real problems that a business can solve include conducting market research to understand the needs and pain points of your target audience, observing trends and changes in the industry, and seeking feedback from customers. It's also important to validate the problem by ensuring it's a common issue that many people face, and not a one-off situation. For example, WeWork identified a real problem of the need for affordable office spaces.
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Need a pitch deck template to impress investors or potential partners? And why is it that the top-funded pitch decks all seem to follow the same forma...
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The most important aspect of any pitch is to set up the problem that your company aims to solve. Without a real problem to solve, there's no need for your business. For example, did you know one of WeWork founder Adam Neumann's first business idea was kneepads for babies? Babies have crawled on their own for centuries, so this wasn't a real problem. Cheap office space was a much better idea.
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