By Fernando Berrocal

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As a startup founder, you must ascertain what your business does–and why it excels at it–in every possible way. The more clearly you can define a business challenge you encounter in the operation stage of your startup, the better for everyone involved. This is something you might have done in the past, but you may not have realized that people will always be more interested in the issue at hand than in a potential solution.

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Your startup must explain why things are so difficult for these people and what will happen if you do not find a concrete solution. The more specific you can be about the business issue and how your solution helps people, the better for everyone involved. It serves as the foundation for all you do and serves as an explanation for all other facets.

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You might have previously believed that all you needed was a compelling business plan problem explanation. However, it turns out that the majority of people prefer a compelling narrative to a dry set of statistics when learning about the issues facing a startup. For instance, Netflix is a business that developed an idea after realizing the challenges consumers had while attempting to rent movies and TV shows during the years when Blockbuster was active. Netflix decided to eliminate video stores after realizing how inconvenient they were.  They accomplished this by shipping DVDs directly to your mailbox for as long as you need–without incurring late penalties.

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A strong problem description emphasizes the audience's need for change.  In this light, they will be more receptive to your business solution. Don't just scan the surface when looking for a problem statement for a business strategy. Ask questions to learn more about the issues that people are currently facing. Cultivating a stronger story requires more work than usual; however, the eventual reward is worth it, since you can engage your audience emotionally and excite them about what you're doing.

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Step 1: Choose the Most Important Problem or Issue That You Have Faced

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Even though your product might have several advantages, you should concentrate on just one of them at a specific time. It's preferable to start your pitch by highlighting the largest problem that your solution solves right now. Keeping track of the hundreds of pitches that arrive each month is quite difficult to consider. You must identify a single business that offers a solution–and have complete faith in it.  An employee may feel more valued if their compensation is eventually increased; however, for other people, the need to have their hard work acknowledged may be much more significant to them.

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You must concentrate on the highlights of your startup pitch deck, and save other details for later.  Investors won't remember every specific detail. You will soon realize that you cannot address all of your issues at once. It doesn't matter how many other problems you resolve; you must focus on the one that counts the most to your business. Remember: convenience, variety, and cost are just a few of the issues that the company Netflix addressed. Nevertheless, you will understand that not every circumstance is as critical. Given that Netflix is more expensive than its rivals, it must be both a more affordable and more effective way to do video streaming. Although we aren't disregarding the other business issues, we want to concentrate on this one immediately (due to it being so urgent).

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Step 2: Amplify the Issue That the Problem Creates

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There are numerous issues worldwide, each with its unique business traits. Even though some hurt more than others, they are all still very unpleasant. The more complex the issue, the better your chances of finding a solution. It is impossible to emphasize the significance of a strong problem statement for a business plan. Instead of just addressing any old problem, you must concentrate on the details. The convenience is not always what you assume. There are two somewhat dissimilar variations of the same issue, and these are the following:

• It is (or it was previously) very annoying to visit the video store.
• Fighting traffic and standing in line for a long time to buy a single movie is necessary when going to the video store.

The first sentence only suggests how bad the traffic is; the second one states how bad it was. You don't want your viewers to recall how frustrating and time-consuming combating traffic formerly was. You want to make sure that customers are reminded of the negative aspects of visiting a video store.

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Step 3: Make Your Story Relatable to Others

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We all make decisions based on human emotions, and your product's vision is no different. The more your audience can identify with the story you're telling, the more likely it is that they will comprehend it and want to get involved. Startup founders frequently share a relatable tale. The first sentence only suggests how bad the traffic is; the second one states how bad it was. You don't want your viewers to recall how frustrating and time-consuming combating traffic formerly was. You want to make sure that customers are reminded of the negative aspects of visiting a video store.

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• Design a character. By providing someone who has some of the same experiences as their audience, a business can make their audiences feel more personally connected and obtain a loyal fanbase, and secure future revenues. People will find it simpler to identify with what you have said as an aspiring entrepreneur if you do this.

• Describe your business journey. Founders frequently get caught up in sharing their own unique experiences, which can instill empathy in potential clients on various levels. To make it more relevant, the entrepreneur in this instance tells the story of how they were personally impacted by a problem. You can play the lead role in your tale, which will appeal to–and engage–audiences.

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