Entrepreneurial Management is about solving unknown problems (pain) with unknown solutions (innovation). The key to solving uncertainty is by identifying pain, and the key to finding the right solution is by experimentation.
“When you start looking at a problem and it seems really simple with all these simple solutions, you don’t really understand the complexity of the problem Then you get into the problem, and you see it’s really complicated. And you come up with all these convoluted solutions That’s . . . where most people stop But the really great person will keep going and find the key The underlying principle of the problem. And come up with a beautiful elegant solution that works.”—Steve Jobs (quoted by Steven Levy, The Perfect Thing).
First rule—you don’t try to serve everybody. You segment the available market, then target a segment, then position the product.