People are more likely to use and invest in products or services that solve a problem that they care about. Startups that identify a problem that people care about and offer a solution that people are willing to pay for are more likely to be successful. They solve a problem that people care about.

There is immense value in understanding the domestic market. We live in a digital world. Products or services are often just a click away. players from any part of the globe could pitch in and try to solve 'that' problem. But being an Indian entrepreneur, there is better chance that you understand the market well, and thus have an edge in fighting competition from the big daddies of the world.

The use of technology at speed and scale is rapidly increasing the reach of content, services and education, to solve problems.

You couldn't find and connect with your friends online- Facebook, now Meta solved that problem.

Being broke and needing to pay higher rent. You plan a trip at the last minute and don't have a place to stay, since all the hotels are sold out. - Airbnb solved that problem.

The time it takes for the remittance to reach you in India and the associated compliances challenges in your international payments experience- SALT.pe solves that problem

Fear of the unknown paralyzes before they take the crucial first step. Remember, it is not just about finding the newest and path breaking technology products. It could well be about repurposing existing technology for a newer and better use, devising a new business model that unlocks value or simply bringing in a new product or service that already exists, to a newer region or to a new set of users at a better price. Your idea could be related to the industry you are working in, or could be a product or service from a different area you are passionate about.

Find that entity who tells you- "If you can solve this problem, we will be your first customer".

Coming up with an idea is just 10% of the work. The next step is to build a story around your start-up idea. Investors, employees and customers buy the story and vision associated with it. If you cannot articulate your vision, product and offering, then that is a challenge. You cannot delegate this aspect.

Change is the only constant for an entrepreneur. Plans change continuously. Customer feedback, end of the runway of funding, a lawsuit slapped for infringement of certain patents, etc. etc. To thrive in chaos is a mandatory requirement to become a successful entrepreneur. This life of dichotomy and lack of any progressive planning is not for all and hence one needs to be aware of this prior to commencing the journey. Also, too much analysis can lead to paralysis. So, plan ahead. Being 'instinct oriented' plays to the entrepreneurial impulse. It is always advisable to stay in contact with target customers, and value their feedback. Deluding oneself into thinking that you already know what the customer wants is another recipe for failure.

Get out of your comfort zone and research the entire market. Engage with as many potential customers as possible and get their feedback. It is important to spend time with the end user and get to know them, their pain points and what exactly they are trying to solve. This is equally true for B2B founders who need to remember that at the end of the day, there is an individual on the other side who will be the enterprise's champion. That approach helps in fine tuning your value proposition.

If you ask me, I would prefer to take up an enterprise where the business has a large enough set of problems where the solutions can have a profound disruptive impact on a sector and create value for all stakeholders.

Nevertheless, learning to trust your instincts, using your intuitive sense of what's best for you, is paramount for any lasting success. Always keep a sharp ear, listening to that small voice of intuition. Give that its due importance. Always use data and research as validation points and trust your entrepreneurial gut.