Simple Questions Every Founder Must Answer

There are a few big problems that every founder has to solve first.

1 - Who are we trying to serve?

2 - What problems do we solve?

3 - When do people come to us?

These simple questions go straight to the core of any business. Until you understand the who, you will never understand the what or why. There are a lot of things that go into answering these questions, and there are many more questions to solve at the same time (many of which if you don't solve will kill your business!).

However, you still find a lot of businesses don't understand these questions. For my journey, it took me about 6 months to answer number 1. I can easily answer number 3, and number 2 still evolves. There are core answers I have for number 2, but it could be clearer.

An important note here is that this is never a set it and forget it exercise. It changes based on new vision, what you can do, where you are located, and many other factors!

What are some of your favorite questions?

#entrepreneurship

Rick Watson

Rick Watson founded RMW Commerce Consulting after spending 20+ years as a technology entrepreneur and operator exclusively in the eCommerce industry with companies like ChannelAdvisor, BarnesandNoble.com, Merchantry, and Pitney Bowes.

Watson’s work today is centered on supporting investors and management teams incubating and growing direct-to-consumer businesses. Most recently, in partnership with WHP Global, Rick was a critical resource in architecting the WHP+ platform, a new turnkey direct to consumer digital e-commerce platform that powers AnneKlein.com and JosephAbboud.com.

Watson also hosts a weekly podcast, Watson Weekly, where he shares an unbiased, unfiltered expert take on the retail sector’s biggest players.

In the past year alone, Rick has spoken at many in-person and virtual events as well as podcasts on topics ranging from retail/ecom to supply chain/logistics and even digital grocery including CommerceNext IRL, ASCM Connect, and Retail Innovation Conference.

https://www.rmwcommerce.com/
Previous
Previous

Don't Kid Yourself, the Macy's eCommerce Spinoff is Going to Happen

Next
Next

Do the words Shopify and ERP belong in the same sentence?