Stage 1 Lesson 2 from the Lean Venture Series, brought to you by Burlington County Library System and Rowan College of Burlington County

1. 1
Stage 1, Lesson 2:
Creating an Idea (Problem +
Opportunity Identification)

2. by the end of the lesson you should be able to:
01 define and differentiate between solving a problem and
fulfilling a need
02 define problems and unsatisfied, new, or hidden
customer needs.
03 apply steps to frame problems and challenges as
opportunities
04 evaluate which problems are good opportunities for
new venture creation
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3. workshop agenda
01 review
02 distinguish between solving a problem and fulfilling a
need
03 identify problems and needs
04 create problem statements
05 evaluate problem statements
06 summary and next steps
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4. 01
review
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5. consider and reflect on the following:
• if you already have an idea, what problem does it solve?
• if you don’t have an idea, what types of problems are you interested
in solving?
• what is the difference between solving a problem and fulfilling a
need?
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6. 02
distinguish between solving a
problem and fulfilling a need
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7. Steve Blank explores the difference between
solving problems and fulfilling needs
http://hwcdn.libsyn.com/p/8/d/1/8d172cc939327eeb/steveblank_clea
rshore_120419.mp3?c_id=4468793&expiration=1438725317&hwt=21
25b70aae181c9e5e4a70e28ccc6f8f)
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8. Value Proposition
The product or service offered by your
business either solves a problem or fulfills a
human social need.
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9. brainstorm activity
Step 2- Identify Problems & Needs
take 2 minutes to brainstorm a list of as many companies
as you can
write each on a separate Post-it®
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10. brainstorm activity
topic questions:
01 which companies solve a problem?
02 which companies fulfill a need?
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11. 3 categories of Needs
• Unsatisfied (Uber)
• New (Charging stations)
• Hidden (Internet communication)
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12. 03
identify problems and needs
Step 2
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13. nine strategies for identifying problems and needs
01 start with stuff that bothers you.
02 dive into a new field.
03 find a way to do it cheaper.
04 seek out the strange.
05 take time for yourself.
06 think visually.
07 pose “what if?” questions.
08 mouth closed, eyes open.
09 be in the know.
10 ______________________________ (add your idea here).
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14. inspiration for your business idea
20 strange inventions:
https://www.youtube.com/watch?v=b8K_J9kPmp4
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15. 04
create problem statements
Step 3
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16. problem statement activity
example problem statements:
01 the United States needs better ways of recruiting and
retaining women in STEM fields because women represent
just 20% of STEM professionals, which hurts the United
States’ innovative capacity and global competitiveness.
02 PetSmart needs an efficient way of managing pet hair
grooming waste because this expense costs the company
hundreds of thousands of dollars annually.
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17. problem statement activity
create your own problem statements using the following
sentence frame:
_________ need(s) a way to _________ because
________.
Format: Who need(s) a way to what because why.
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18. 05
evaluate problem statements
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19. 19

20. evaluating potential for venture creation
• the problem
• the people
• existing solutions
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21. venture potential
Venture Potential
Lower Potential Higher Potential
The Problem  Level of importance of
solving problem is low
 Problem is not widespread
 Level of importance of
solving problem is high
 Problem is widespread
The People  Few people have this
problem
 Little evidence that people
need or want a solution to
the problem
 Many people have this
problem
 Substantial evidence that
people need or want a
solution to the problem
Existing Solutions  Many solutions to the
problem already exist
 Few solutions to the
problem already exist in
the market
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22. 06
summary and next steps
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23. today’s lesson objective summary
01 define and differentiate between solving a problem and
fulfilling a need
02 define problems and unsatisfied, new, or hidden
customer needs.
03 apply steps to frame problems and challenges as
opportunities
04 evaluate which problems are good opportunities for
new venture creation
23

24. consider and reflect on the following:
• what is the difference between solving a problem and
fulfilling a need?
• what are unsatisfied, new, and hidden needs?
• how do you know which problems are good opportunities
for new venture creation?
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