What if i want to startup, but don't have a problem statement

Rajinder:

What if I really want to startup but I don’t have a problem statement, what should I do?

Avnish:

Don’t startup, you know I’m not trying to be cute here, don’t startup until you have, you experience it. I think there are different buckets of founders and the founders that ultimately succeed, feel a certain pain point very deeply.

Now we have invested in people and I would argue, I started off like that, when I said I just want to be a founder, actually in my case I just wanted to get rich quick. But I just want to be a founder and I’m going to look for a business. Which is fine, I will say 90 plus people succeed when they are experiential founders, they feel a pain point. Ultimately what is a business? Its trying to solve some pain point. It is a solution to some problem, unless you feel that problem very very deeply and gutterly yourself, you know in the gut.

You will not come up with the best solution and somebody who has felt it more firsthand will get it.

So, my view is wait till you do that or at least understand. So, what did I do or what have I seen people do, who want to be founder and don’t have an idea, either they pause till they get to this answer or they are really hell bent on it then they follow the passion opportunity skill set framework and they say what sectors do I enjoy where are my skillsets and then they go very deep in that sector.

And you know Amit Lakhotia, where we work together in park+, he iterated through multiple ideas then he really zeroed in this transportation as a sector and he has a prior experience, that’s the other thing try to build on your prior experience, right.

So that’s how I think about it, but there’s no rush.