How to Start a Business Practically.

Let’s start with the basics and clear the fundamentals. First and foremost, have 100% clarity in your mind that business means problem-solving. Don’t complicate this because I’ve seen most people get confused here. They either think of business as an idea or execution, but it’s both. Understanding the problem, which we’ll call the “idea,” and solving it through execution, which we’ll call “implementation,” are both necessary. So keep things simple—problem-solving is the essence. Identify the problem and solve it in a way no one else is doing. That’s what business is all about.

Now let’s understand how to recognize a problem. How do we find it and validate whether the problem is big enough and real? It’s not about just assuming that something is a problem because it seems that way to you. You need to analyze the data, and only when it's validated can you move forward. After that, you can launch an MVP (Minimum Viable Product) and test it in the market to see if it fits. Based on the response, you scale it up.

But since you might not have a lot of resources or a well-set system, we’ll talk about what’s the best way to move forward under such conditions. Start with yourself—what problems are you facing? To do this, you need an observational mind. Sit with yourself and analyze your entire day—see if you notice any problems. If yes, great! Note them down, and we’ll work on them later. For now, we’re just identifying problems. Identify at least 10 problems, and then we’ll choose which one to work on.

When you start with yourself, it will be easier. That’s why I suggest sitting down and analyzing your entire day to see what problems you face. Can those problems be solved effectively? Can solving those problems turn into a business? Think about it on this level.

If you don’t find any problems yourself, look to others. Someone else must be facing issues. To understand this, you’ll need to talk to people, observe situations, and identify problems they face. If you still can’t figure out what problems exist, try traveling. Many successful businesses didn’t start overnight; they often began when someone was traveling, observing things on the way, and suddenly understood a problem that led to the birth of a great business.

Observation is crucial. Your mind should be active, not stagnant. If you don’t understand others’ problems, think at the economic level—what exactly is in demand? Analyze the demand and supply around you. Is there a gap somewhere? For example, is there a product with high demand but low supply? Can you do something that no one else is doing? That’s how you should think.

If yes, then there’s a chance for a business. Once you identify at least 10 problems, choose one that aligns 100% with your resources and thinking. You should feel from within that you can solve this problem better than anyone else. You need that confidence and energy. If you ask yourself if you can work on this problem for a long time and the answer is yes, and it aligns with your resources, then pick that problem and start working on it.

Don’t think like many people do, that you’ll bring in a lot of money and then start a business. Those people are naive. Yes, if you’ve reached a level where you have enough resources, funding, and money in the bank, then it makes sense to invest in big ventures. But when you’re starting out and your pockets are empty, thinking like this is foolish. Start small. Start with an amount you can afford to lose without worrying about it. Use that small amount to create your MVP (Minimum Viable Product), and then test it in the market.

If you’re doing it offline, find ways to test it; if you’re doing it online, you can run Facebook ads or other basic tests to see if people are interested. For example, if you reach 100 people, and 70 react positively, with 50 wanting the product, then you know there’s a chance for business. Market response is key, and you need to act accordingly. If the market responds well and you feel confident from within, then that’s when the real work begins.

As I said, I believe in numbers because I’m an economist. If your product is resonating with people, and they are expressing a need for it, then there’s potential. You’ll start to feel the motivation naturally when you see results coming in. You’ll get that thrilling feeling of achievement, and that’s when you know your product is working, and you just need to scale it up. Once you get to that point, your mind will start thinking in new ways, and all the strategies will start unfolding on their own.

The problem many people face is that they overcomplicate things at the start. When you keep things simple initially, as I’ve shared from my own experience, you’ll find it easier to move forward.