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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
How the 21st Century Will Be Made, Not Managed
If you were going to found a technology-based start-up, what would you do? You’d probably begin by developing a great product and hoping that people would buy it, right? Unfortunately, it’s really difficult to persuade people to buy a product that they don’t yet know they need. In fact, it’s easier to start the whole process the other way around.
Rather than starting with a product, begin by identifying a problem. This doesn’t necessarily have to be a well-known problem; in fact, people don’t always realize they even have an issue until you show them a better alternative to the status quo.
For example, Adam Goldstein, co-founder and CEO of the successful travel search engine Hipmunk, realized in college that he had a problem booking flights. He was responsible for organizing all the travel for his debate team, which had a small budget for attending competitions. In order to find the cheapest flights, he had to check several flights at several airlines for several different time slots, which was an incredibly frustrating as well as time-consuming task.
Once you have identified your problem, you can create your product around it.
Adam Goldstein’s solution was a travel search engine that searches a number of airlines simultaneously and ranks them according to price and other factors, such as number of layovers and flight duration.
In 2010 he brought his problem to Reddit co-founders Alexis Ohanian and Steve Huffman. They then turned his idea into a reality, gave it the name “Hipmunk,” and revolutionized travel searches in the process by saving people time and money.
Unsurprisingly, the product quickly took to the market; people realized the Hipmunk’s advantages even if they hadn’t thought of travel searches as a problem, and were thankful for the simplification.
Without Their Permission explores the author’s success with his hugely popular website, Reddit, as well as other internet-related stories, and investigates what exactly it is about the internet that makes it such a wonderful and dynamic place. Along the way, the author provides entrepreneurs with advice that helped him to form his remarkably successful business.
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Try Blinkist to get the key ideas from 5,500+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.
Start your free trialBlink 3 of 8 - The 5 AM Club
by Robin Sharma