It has been said that marketing is about solving problems. In other words, the solution to every problem is a potential product.

Do you have a problem that crops up over and over again? Do you find yourself wishing that somebody would come up with a solution? Chances are, if you’re thinking that way, you’re not alone. Millions of other people will almost certainly feel the same way.

Next time you find yourself in this situation, ask yourself whether or not you’d pay someone to solve the problem. If you would, others will too. That means the solution to the problem could well become a successful product.

So how do you go about solving the problem?

Define the problem

The solution to any given problem starts by defining it. Can you describe the problem in a single sentence? No? Then try again. And keep trying until you can.

As soon as you have a one sentence description of the problem, you’ve got the basis of a future ad headline (advertising is often nothing more than a clear explanation of how to solve a specific problem).

Is the solution a viable product?

Some problems are easily solved. If you can solve it easily, chances are millions of other people can too. The solution to an easily solved problem is unlikely to make you rich.

Some problems are easily solved if you spend enough money. An expensive solution may make you rich if the problem is annoying enough. But you increase your chances of getting rich if you find a way to deliver an inexpensive solution to the problem.

Some problems are difficult to solve. If you find a solution to a difficult problem, and your solution is reasonably priced, you’re on to a winner.