Running your startup business is often an involved affair. As the leader of your company, you are in charge of many things. That includes being the primary solver of any problem that crops up. That can, of course, be rather tedious, as every problem might be different from the last one.
For that, you need to equip yourself with the right strategies. Let’s explore some of these strategies and how you can use them to be a more effective head.
Understanding The Problem-Solving Process For Your Startup Business
Before we dig deeper into the strategies, you should have a good grasp of the overall problem-solving process. Note that not every problem might use this general procedure. Some might require you to go on a different path to the solution. Nevertheless, this will help you better plan out your strategies.
Defining The Problem
While it might seem simple, identifying and defining a business problem can be more involved. Here, you should be aware of any issues not visible on the surface. These can make the problem a lot more complex than you initially believe. A thorough analysis of the situation will give you a better picture of the problem’s extent.
Break The Problem Down
The next step is breaking down the problem into chunks. That helps you better manage it and determine the best course of action. Of course, the tricky bit is that you can break down the problem in multiple ways. For that, you need to determine the best-suited one for the given situation.,
Generate Your Solutions
A common mistake at this stage is to stick with just one solution that can seem to solve the problem. Already. However, you might eventually find that solution lacking later on. As such, a better approach is to generate multiple solutions. The idea is that you want as many options to evaluate as possible. Involving your entire team will help in that brainstorming.
Evaluating Solutions
Go through each of the solutions you have come up with and see what results they can potentially deliver. When deciding which one to go with ultimately, there are several questions you should consider.
- Does the solution align with business goals?
- Is the team on board with the solution?
- Is the solution possible with current resources?
- Will it solve the problem without causing additional issues?
Answering these questions, you can determine the solutions that best suit the situation. It can also help you combine solutions if needed.
Problem-Solving Strategies For Startup Business Leaders Like You
As mentioned, many problem-solving challenges your startup business encounters will often fall into your lap. Here are some strategies you as the leader can use to solve these.
The Kipling Method
This method is named in honor of poet Rudyard Kipling and is based on his poem “I Keep Six Honest Men.” Its premise is very straightforward. You ask six specific questions. To define the problem. These questions are:
- What is the problem?
- Why is the problem important?
- When did the problem arise and when should it be solved?
- How did the problem happen?
- Where is the problem occurring?
- Who does the problem affect?
By answering these questions, you can backtrack to the history of the problem. You can then determine potential circumstances that are leading to it. From there, you can formulate solutions based on what you have learned.
The Pareto Principle
Another handy strategy in identifying a problem’s possible roots is the Pareto principle. Also known as the 80/20 rule, it states that 80% of the results come from 20% of the effort. It has widespread applications in business and other disciplines.
So, how does the Pareto principle weave itself into startup business problem-solving? Here, it can be argued that 80% of the problems your business encounters is due to 20% of the possible root causes.
Of course, the next question is how you would determine which problems belong to these categories. Here, you use a Pareto chart. That is essentially a bar graph that tells the distribution of problems and their causes based on historical data. Going through the graph and data, you can determine the likelihood that a given issue is due to the listed causes.
Going Visual
Analyzing a given problem based on verbal or written testimonies can sometimes be difficult. A nifty trick to help you better visualize these problems is to draw them on paper. Here, you don’t have to be overly complicated in your diagrams. It would be better for you to go with a simple approach.
The strategy is useful for dealing with process-related problems. By being more visual, you help your team better understand the flow of the process. You can then use this simple drawing technique to develop a roadmap for it before embarking on a full solution.
Create A Catalog Of Solutions For Your Startup Business
Trying to find the right solution for a given problem can sometimes be an exhausting task. As the startup business leader, you don’t want that to happen. As such, you should practice compiling and cataloging every solution you use for a given problem. Here, you can guide your team on how to prepare and maintain the catalog.
It would also be a good idea to encourage your team to contribute to the catalog freely. They can throw in ideas whenever they come up with one. That helps the catalog grow further. You should also take the initiative to review it. It lets you determine which solutions are still useful and which ones need more work.
Be The Chief Problem Solver For Your Startup Business
Taking on the role of chief problem solver for your startup business is a tall order. But with these strategies, you are ready to take on the myriad of issues your team will encounter. And there is certainly more that you will learn along the way. So, be ready and equip yourself with the right knowledge. Your whole team depends on you. And we are here to help you.