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How to identify relevant trends
Transcript
After identifying different problems, the task then becomes to assess the problems on various criteria. The goal here is to determine which problem can produce the most fruitful value proposition. Let’s have a look at the criteria on the left Answer these questions in the context of your identified problems.
By doing this, you’ll be laying a critical prerequisite to the next step where we’ll quantify the potential of each problem.
Take the founding story behind COMATCH for example.
It’s a genuine story of how two Mckinsey Consultants identified a problem in the consulting sphere (in this case, a tendency towards independence) and used this problem as the center of gravity in building their business model.
In assessing the problem, one critical aspect to address is whether you are the right person to solve this problem.
Here are three self-reflective questions to be asked.
The answers produced will allow you to make the tough decision on whether or not this particular burden is yours to bear.
Finally, we find ourselves at the Matrix we’ve been working towards: A simple, but effective method to quantify the potential of each problem.
Place the problems on the vertical axis and the participants on the horizontal.
Each member has 10 points to distribute among the problems.
Their choices should be based on how painful they believe that problem is.