We have written in our previous articles that a problem is an opportunity for a new business. The bigger the problem, and the more people have the same problem, the bigger the opportunity. We will go into detail on executing on a big problem that you have identified. We will specifically focus on importance of the right execution team and board of advisers.
Many of us have hiked up to the beautiful Himalayan regions in Nepal. Ujwal has written about his experiences of hiking to Annapurna Base Camp. One problem that he identified is the difficulty of getting a hotel room in villages along the Annapurna trail. Prasanna experienced the same problem when he hiked up to Everest Base Camp. There are a limited number of hotels on the trials. To get a hotel room, you have to get there early. If you walk slow (which is highly recommended in high altitude), you may not get a room at all during peak tourist season. You may have to sleep on the sheds or sometimes in the cold outside. If you are a Nepali, the lodge owner may give a non-Nepali a room over you although you maybe able to pay a lot more. The concept of booking is almost non-existent here and this can make the trekking experience unpleasant.
This problem could be solved by a Continue reading “Importance of building a strong team: key to an Entrepreneur’s success”