Entrepreneurship: Does a Product REALLY Have to Solve a Problem?

Aug 07, 2022

If you want to make money by selling a product or service, conventional wisdom suggests that the thing you are offering should solve a problem. But sometimes a product can have absolutely no utility and it can still make millions. So this article will explore whether a product actually needs to solve a problem to be successful.

First, you will always hear the same expression, which is to sell a product that solves a problem. True, this is good practice; particularly if you have no starting point or idea of what to sell. But sometimes, the “problem” is manufactured. You see, selling is no longer selling. It’s psychology now, or a series of psychological experiments. There’s a sales template for just about every type of consumer interaction or behavior. Now that’s interesting because once you understand this, you will realize that a product being sold may have zero or very limited utility. So the problem, often, is not really there; only perceived.

Do you really need an expensive phone? Because the cheaper ones do pretty much the same thing. What problem does the purchase of art or other collectibles solve? Do you really need the Ring doorbell camera? Do you need to be outfitted with the latest fashion trends? So as you can see, not all products have to solve a problem. A real problem doesn’t have to exist in order for the product to sell. Conversely, an item being sold may have no real utility. But as long as you can convince people to buy it, money can be made.

So a better way to approach selling is to offer something people want or need. You don’t always have to solve a problem. Just sell what they want or need. If you found this information helpful, please share it with a friend.


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