After setting aside his music career, Sean Dowdell wanted to start his own tattoo parlor, but he needed to find a way to make a traditionally lowbrow product appeal to a high-end, but still edgy, audience.
After his early customers weren't paying their invoices, the founder of pizza app Slice began the long process of figuring out what (and how) people were willing to pay.
Instead of looking outward to identify problems to solve and markets to serve, entrepreneurs should focus on their own frustrations. The unique solutions they come up with will have a natural market filled with customers just like them.
When funding fell apart for Sam Sisakhti, he embarked on 18 months of brutal rejections and learned invaluable lessons about himself, his business and the nature of entrepreneurship.