How To Turn Your Problem Into a Business Opportunity

By | April 1, 2019

How To Turn Your Problem Into a Business Opportunity

How to turn your problem into a business opportunity can be quite a simple task if you can apply a little figment of imagination into problem-solving. Lots of business opportunities can be found by solving problems. In this article, I am going to show you an example of a business that solves a problem, and how to do so using real-life experience.

Purpose Of This Post

The purpose of this post is to:

  1. Explain how you can turn your problem into a business opportunity
  2. Show you how powerful your imagination can be when you put it to a good test. 
  3. Open the eyes of your mind to see how you can view the problem differently.
  4. Try to put a definition into what the problem really is.
  5. Provide you with tools with which you can use to convert your problem into business opportunities online or offline.

What Is A Problem?

This is a question everyone is looking for an answer to and to be honest you may have asked yourself the same question many times before. It is a question that is always right there in front of you every day and the answer that come in a different form depending on individual experience. To say that there is a definitive answer to the question will be an understatement, to be frank. But in this article, I am only going to try and explain it by looking into real-life scenarios and borrowing some quotes from
great thinkers out there.

First, according to Wikipedia, “There are two different types of problems, ill-defined and well-defined. Different approaches are used for each. Well-defined problems have specific goals and clear expected solutions, while ill-defined problems do not. Well-defined problems allow for more initial planning than ill-defined problems”. And this is just the start. Let us look at more wider views from some scholarly experiences.

A problem is an unforeseen circumstance that when it occurs, seems insurmountable and overbearing and, or hard to solve. Its aftermath is fear, despair, strong emotion, self-degradation, negativity, frantic desperation, feeling down, worry, off-put, anger, and so on. The good news is that any problem that does not have a solution is never a problem in the
first place.

How? Good question and let me explain; In as much as it comes with all the above downsides, it also brings with it a good side too. Because when a problem hits you, it spurs up your adrenaline, it awakens your sense to full throttle and your subconscious mind will be fired up and in full gear. You are afraid because you can’t seem to find a solution and so your brainstorming mood is in full capacity.

If you can turn the table around and see through the eyes of your mind and think outside the box, you will see that the same problem actually has windows of opportunity too.

Quotations About Solving Problems And Turning Problem Into Business Opportunity

“Whenever God wants to give us a gift, he wraps it up in a problem”Norman Vincent Peale. And according to Lloyd Conant, “ You don’t earn the right to solve big problems until you have solved the small ones”.
Henry Kaiser in fact well put it that “ Problems are
only opportunities in work clothing. The question then is how do you see
it.

Can you identify the opportunities that lie in every problem? Yes, we are human and human begins are allowed to worry in terms of when problem strike. We are wired like that. Ray Dalio asserted that “ The pain of problems is a call to find solutions rather than a reason for unhappiness and inaction, so it’s silly, pointless, and harmful to be upset at the problems and choices that come at you even though it is understandable”.

The same the author also said that “Since the only way you are going to find
solutions to painful problems are by thinking deeply about them, that is by reflection, and if you can develop a knee-jerk reaction to pain that is to reflect rather than to fight or flee, it will lead to your rapid learning and
evolving.

Isaac Asimov asserted that “It has been his philosophy of life that difficulties vanish when faced boldly”. Meaning, you have to find a different way of looking at a problem. Mike Leavitt said “ There is
a time in the life of every problem when it is big enough to see, yet
small enough to solve” And I totally agree with that. An example
isolating your problem from others.

According to Bill Russell, “ If you isolate your problem from others, your chances of solving it are thin. Problems require wisdom, and wisdom requires perspective. Other people provide that perspective”.

The underlying message behind all these great quotations about solving a problem is that in every problematic situation, there is always a solution to it. If you can’t find a solution, then it is never a problem, to begin with. I liked how John Walker summed it up by saying “Opportunities are merely problems that promise to pay off after sufficient work”. The question now
is, are you ready to put the sufficient work needed?

Therefore, flip the switch on problems. Stop looking at it a problem as a problem and start seeing it as an opportunity. In the process of finding a solution and actually solving the problem, the in-between is your business opportunity. 

The solution is the key. 

How did you solve it? 

What did you do? 

The question of how you solved it should be a framework for your next
venture. The final question is, do you want to turn it into a business
opportunity or render it out of love?

Again the solution is the key. If you can help someone else with a similar problem by providing the means you used in solving yours, that concept right there can be turned into a business. The choice is really up to you.

Turning Your Problem Into A Business
Opportunity

How To Turn Your Problem Into a Business Opportunity

Turning your problem into a business opportunity is the interesting part because this is where I will be using various scenarios of life examples to drive the message home.

First is being broke. Being broke is a problem. 

In fact, it is a big problem. You know why? 

Because if you are broke, you cannot take care of your family. You cannot enjoy life at full crush. When you are broke, you cannot buy the things you want or travel to anywhere you want to go. You will be limited to certain
necessities as a result of your inability to afford those things.

Your needs will be overwhelmed and overtaken by your own wants in life.
Your needs are no longer important when you are broke. It is your
wants. Your marginal propensity to save out of your consumable income
will be equal to zero because you have zero income coming in.

Being broke is the worst kind because it is happening right before you and even though you are well and healthy but seems not to know what to do. But that does not mean it is the end of the world does it?. So what’s the solution? 

The solution is to do something about it. You can start by doing what I
call a self-assessment to find out what skill you have within you
that can help someone out there. When you find it, you can then
monetize such skill to change your financial situation. Today you can
start a small business totally on a shoe strings without breaking a
bank. How? Thank God for the internet.

Tools To Turn Being Broke To Not Being Broke Any More

  1. First, you will need to believe in
    God and yourself. You will need to be confident that you want to do
    something to make a change and be willing to do it.
  2. Second is the internet. There are tons
    of ways to start earning money online without spending much. An example is, you can sell your old stuff on eBay. That may be a little bit fruitful with time and patience it pays off.
  3. Write an eBook about your talent or set up a blog to talk about your skill and then do affiliate marketing within a niche that re-sonnets with your talent. This is by far one of the easiest ways to make money online nowadays. A good example is to join Wealthy Affiliate program for example. They have the best help and support plus tons of free video tutorial to help you get started. As a free member, you will get two free websites to talk about your talent and do affiliate marketing.
  4. You can also write an eBook about your skill. You can read my book on “How To Use Your Imagination To Turn An Idea Into A Successful Online Business” and learn how to turn your skill into an eBook and make money online.

Turning Bad Shopping Experience Into A
Business Opportunity

Turning bad shopping experience into a business opportunity originates from one life story I heard about a young lady during the course of researching for this article. Again no name or place will be mentioned for obvious reason and if you need more proof, please Google it up as I do not take credit for unrelated works.

The story is; she ordered a particular size of clothing online but the wrong size and design were delivered to her instead. After complaining to customer service help center online, she was not getting the right help she needed and this became a problem.

After days of unresolved issues regarding her purchase, she took the rant to one of the social media. She posted a video of herself explaining what went wrong with her purchase order and how it cannot fit. She even threw in some suggestion about what remedy can be made if the companies cared to listen.

The video went viral so fast that many companies in a similar business are now contacting her with clothes to wear and review online using the same social media just like she did.

Today she has become a lifestyle and shopping expert bloggers with plenty of views and followers. Don’t forget the revenue that is coming from every advert that was placed on her video.

That could be anyone, it could be you reading this and it could be your next neighbor or friend. You have all it takes to change your financial future. All you have to do is go for it. You can apply this method to anything in life. You are the only limit to what you can achieve in this life.

How You Can Turn Your Problem Into A Business Opportunity Online

As a conclusion, I will leave you with these questions; 

  • What problem do you have that can be turned into a business opportunity online today? 
  • Have you lost a job recently?
  • Do you hate your job?
  • Are you in debt?
  • Is your business sinking to the ground?
  • Are you having difficulties relating to people?
  • Are you stack broke that you can’t even afford the next meal?
  • I mean what is the possible worst situation you can find yourself into, that you can’t seem to get out of?

You can begin by tapping into any skill set you have got that can be used to help someone out there. Look into those problems you have and see how possible it affects others. Take yourself out of the context and think outside the box. Use your imagination and put that to the text. There is an article about turning your imagination into an idea here that can help you understand positive thinking better.

How Tiger Wood Turned His Problem Into A Success

We all know the story behind the great golfer Tiger Wood. I mean his story alone should be an inspiration to all of us.

The guy lost everything;

  • He lost $500 million in a divorce settlement.
  • He lost his game and went on losing spree.
  • He lost ad promotion with Nike.
  • He lost out of the tournament.
  • He had an injury and was believed not to be able to walk again.
  • He took drugs and went into rehab.
  • He failed abysmally and was even written off by his huge fans.
  • 11 Years later, he came back and won the masters.

He believed that only he can make that difference. He believed in himself and God that he will pull through. He did not give up. Instead, he fought back. He faced his demons and look them right in the face and said let us do this. He came back and won his position back.

Everyone should take a page from his story.

If you have access to a computer and the internet, create a free website here under a few seconds and start monetizing your skills set by blogging about it. This works without spending a penny. But you have to be willing to put in the work.

If I have missed anything please feel free to contribute below. This is how you can turn your problem into a business opportunity. If you are stuck with finding ideas, grab a free copy of my ebook on how to quickly find ideas. Please share and help us spread the word.  

 

24 thoughts on “How To Turn Your Problem Into a Business Opportunity

  1. afolabi anumicheal

    Thanks for writing this article on how to turn problem into business opportunity.i must commend you for a job well done for posting this motivational article,sometimes bad things happen to human in other for him/her to use the situation to turn negativity into positivity. I can remember when I join wealthy affiliate, I don’t have anything and also  lack experience in affiliate marketing but today with all the lessons and trainings at wealthy affiliate I can say am getting closer to my goal each day 

    Reply
    1. Richard U Post author

      Thanks, Afolabi for commenting on how to turn your problem into a business opportunity.

      Your story is a living testimony and kudos to you. Also then you for relating to my article and finding it very informative and valuable.

      The difference between those who quit and gave up and those who never back down is their ability to see opportunity in every adverse situation they find themselves in.

      Thanks again for commenting.

      Reply
  2. Rob Fore

    I like this post, Richard. It makes a LOT of sense and I’ve used a few of the ideas you shared along the way that really has helped me make MORE money online that if I had not have executed on the ideas. For example, like you shared…

    Being BROKE is a problem.

    So when I first got started I picked BLOGGING and affiliate marketing as, potentially, a way to get started down the road toward NOT being as broke. LOL. And THAT problem of being broke… and becoming a blogger to address that problem… literally became the FOCUS of my blog.

    Meaning I adopted the ‘persona’ of an old guy who was broke, trying to make more money blogging… and I simply REPORTED my trials, tribulations, insights and successes – both large and small – along the way as I figured stuff out.

    So the original PROBLEM actually became the vehicle that helped us have success.

    Good stuff. Thx for sharing.

    Reply
    1. Richard U Post author

      Wao this is inspiring. Thank you so much for sharing it here as well and I really appreciate that you used your personal experience.

      Now you are a living testimony to your work.

      Life is full of trials and tribulation. How we face them differs. Some run away. Some submit to it. Others stand and face theirs. You obviously stood up and faced your fear face to face. The courage they say “is a fear that has said its prayer” This is a powerful quote from Anon. Now you have managed to turn it around and make it a cash cow.

      That is the point of my message on this article. That is what my eBook is all about. I am glad to see that this article relates to you and thank you for commenting.

      Reply
  3. darrickramos

    Wow! Awesome post. This is very insightful, knowledge powered and exasperating piece of writing. Going through problems is inevitable to man and its a necessary precursor to becoming greater than before. Someone once put the words that; without problems, life is meaningless and greater discoveries cannot be made.

    I really like your various illustrations of problems like being broke, bad shopping experience and so on and how to make opportunities out of them. I’m well and thoroughly taught and I appreciate every bit of information on this post. Thank you for sharing

    Reply
    1. Richard U Post author

      I am glad to be of help. Thank you for the comment and it is good to know that it has inspired you.

      Reply
  4. CohenBeckett

    Your blog post on how to turn our problems to business opportunity was really inspiring. The fact that you stated five purposes of the post and you fulfilled those objectives is really worth commendation. Many of us sometimes when we encounter difficult challenges and problems we tend to throw the towel, and lose morale so easily. Now i have gotten a new orientation as regarding what a problem is after reading your post. Lest i forget, i love this quote “Whenever God wants to give us a gift, he wraps it up in a problem” from Norman Vincent Peale which you stated. Thanks so much for this wonderful and inspiring write-up. Cheers!

    Reply
    1. Richard U Post author

      You are most welcome. Thanks for the comment and I am glad it has helped you figure things out in a more clearer way. 

      Cheers!

      Reply
  5. cpascal

    I agree that it’s a good idea to look at problems as a possible source of opportunity. If more people took that view, a lot more of the world’s problems might be solved by now. There’s a saying that necessity is the mother of invention, and seeing opportunity in problems could lead to more products being invented that make life easier, and being profitably sold in online stores. 

    Reply
    1. Richard U Post author

      Thank you for the comment and seeing the opportunity the lies within any and every problem we face. Yes, indeed necessity is the mother of invention and no one could argue with that.

      At the end of the day, it is left for us to choose how we see a problem. I know some people pray for a problem so they can use it to turn things around for better. Other am sure run away from it which is playing safe. I am facing mine squarely in the face and I am gonna make it my cash cow for life.

      Thanks again.

      Reply
  6. Mustapha Ibrahim

    If you have an obstacle, you have a problem! But maybe you don’t know that you can turn such a problem into a great business opportunity. Thank you for sharing this information it’s very interesting and I’m very sure it will help a lot of people to get experience with this article when they take time and read.

    Reply
    1. Richard U Post author

      Thanks for that and I appreciate your comment.

      That is the whole point. To help others understand and be able to apply the same approach to problem-solving.

      Reply
  7. Taetske

    Good evening Richard,

    Reading your post I come upon Ray Dalio. what he said I like. Try and find a solution rather than focus on the reason why you are unhappy because of the problem.

    I think in general life does not put a problem too big to solve.

    With some imagination, you can turn a problem into a business opportunity. Brilliant, I like your post.

    Regards, Taetske

    Reply
  8. Jewelia

    Hi Richard,

    I enjoyed reading your article “How to Turn Your Problem Into a Business Opportunity”. I absolutely agree with you: every problem opens up an opportunity.

    Some problems we create for ourselves and maybe a better solution would be to avoid them before they become problems. In other words, see the opportunity at an earlier stage of the development of the events.

    Other problems arise without our participation or influence. Those naturally-occurred problems are good stimuli for the brainstorming and decisionmaking. You are right, problems trigger our subconsciousness to kick in at its full power, spur up our adrenaline, encourage us to take chances and make a step toward the solution. As you said, the key is to be open-minded. Once a solution is found, thinking outside the box could lead to a turning it into a business opportunity. The rest of the success depends only on the dedication and hard work.

    Thank you for the inspiring and encouraging read!

    ~  Julia

    Reply
    1. Richard U Post author

      Loved every word you said. Thank you so much for the comment. You got it right. 

      Reply
  9. Ranao

    Hey Richard,

    It’s one of the most interesting posts I’ve read about online business. I greatly benefited by reading your important and informative article about the Problems and Business Opportunity. I totally agree with you, our imagination needs to be used properly; it needs to be converted into an Idea. I love the saying of Bill Russell- “Problems require wisdom, and wisdom requires perspective.” WoW!!
    I think the right approach creates a huge gap between success and failure. Wealthy Affiliate is such a business platform that transforms our problems into opportunities. Thank you sincerely for the inspirational and important article.

    Best Regards,
    Ranao.

    Reply
    1. Richard U Post author

      Thank you so much. I appreciate the comment. We can do greater things when we really put our minds to it. Every problem that doesn’t have a solution is never a problem, to begin with. Every problem must have a soluton. What we do with those solutions now depends on our individual perspectives. 

      Reply
  10. Mattie K

    ” “Whenever God wants to give us a gift, he wraps it up in a problem” Norman Vincent Peale” I love that so much! The best and most lucrative opportunities in history came from what was thought to be a problem in the first place. I would even argue that everything we have today started out with problem-solving. 

    Your article seriously has made my brain go into problem-solving mode. Mostly with my kids and their constant fighting with each other. Thank you so much for the inspiration. I have been so stressed out as a working mom and this has given me a little paradigm shift. 

    Thank you!

    Reply
    1. Richard U Post author

      Hey, Mattie thank you so much for taking the time to comment. It means a lot to me. I am glad that this article has inspired you.

      I must say you got it right on spot. Good timing too because this is an opportunity for too. What you are going through right now is what half a million mums are experiencing right now.

      If you have spare time and you are able to create a website, tell your story how you are handling, multi-tasking, and even juggling all that with family upkeep. You already have a book here. These challenges are your opportunity. I am helping you to see them now and turn it around.

      Believe me when I say this; every mum will love to read your story on how you handling all these. And they will happily pay for your eBook. 

      Writing an eBook is easy. Read my book, Do what I did. Follow the same step. Use the resources I used and provided in there free of charge. 

      To your success!!

      Richard U.

      Reply
  11. Idara

    To turn ones problems into realiity is first and foremost a challenge of the mindset . One must train oneself to think outside the box.

    I especially loved how the law of duality was used to say for any state to qualify as a problem it must have a solution.

    Being broke drives me everytime to seek solutions to existing problems, now I’ll ensure that i can also make money from the solutions. Thanks

    Reply
    1. Richard U Post author

      Good to see that this article has inspired you. Take the life of Tiger Wood as an example. I mean the guy lost everything and 11 years after he came back and won the Masters. That alone is an inspiration, He managed to turn his problem around and make a success out of it. 

      If Tiger Wood can do it. Anyone can do it.

      Reply
  12. Marlinda Davis

    Hey Richard! I absolutely love this post! My favorite phrase is this ‘you will need to believe in God and yourself. You will need to be confident’. I was just telling my hubby about doing this for another issue he was having that others were also having as well. Thanks for putting this guide together and I’m definitely going to share it with him as he thinks that I’m just nagging him a lot of the times. I hope that this helps others believe in themselves and take advantage of opportunity when it presents itself to them in this form. Thanks!

    Reply
    1. Richard U Post author

      Thank you for the comment. Yes, it is very true. The only limitation we have are those we set for ourselves. If one believes they can, then they can do it. If you believe you can’t then the self-doubt will creep in and that is no way forward.

      I am glad you found value here and I hope your husband gets to read this and put it to good use. If you have further questions please do not hesitate to ask me here.

      Reply

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