Everything You Wanted To Know About Problem Statement for Startups

All startups solve a problem, but only a few talk about it when asked what problem they are solving. Counterintuitive but true. In their zeal for the solution to the problem, startup founders tend to become preoccupied with their product, so much so that they lose sight of the very problem that prompted them to find the solution in the first place.

Not remembering the problem you are solving is itself a problem. Your product may be your labour of love, something you attach a lot of emotional value to. But your target customers may not feel the same way about it as you do. For them, it has value only and only if it solves a problem that bothers them or fulfils a need they have. What they want is not a product that is up for sale but a solution that solves their problem.

This brings us to the question as to what a startup problem statement is.