Business By Hormozi #259: Solving Hard Problems – The Missed Opportunities You’re Ignoring

The Hidden Opportunities in Solving Hard Problems

Entrepreneurs are constantly on the lookout for opportunities that can propel their businesses forward. However, many miss out on the greatest opportunities because they’re avoiding the very challenges that would provide the solutions they’re searching for. “You don’t need to go looking for them. Solving the hard problems you’re avoiding are the missed opportunities you’re looking for.”

This idea is reflected in the experiences of two entrepreneurs—David and Clara—who both encountered hard problems in their respective businesses. The difference was in how they approached these problems, and how that changed the trajectory of their success.

David’s Approach: Avoiding the Difficult Problems

David started his e-commerce business with a great product and a solid marketing plan. However, there was one issue he kept putting off: customer service. David knew that handling customer complaints and returns would be time-consuming and stressful, so he avoided it as much as possible. Instead, he focused on product development, advertising, and growth.

As his business expanded, the number of customer complaints grew. The issues he was avoiding became bigger, more complicated, and harder to ignore. He tried to solve them by simply hiring more customer service staff, but that only put a temporary bandage on the problem. He wasn’t addressing the root cause of his dissatisfaction with customer interactions. By continuing to avoid the hard problems, he was missing opportunities to truly enhance his business and improve his customer experience.

Clara’s Approach: Tackling the Tough Problems Head-On

Clara, on the other hand, had a different mindset. When she launched her startup, she faced a unique challenge: dealing with a difficult supply chain. Her suppliers were unreliable, and shipments were often delayed. While many entrepreneurs would have been quick to blame the suppliers or find quick workarounds, Clara saw this problem as an opportunity to grow.

Instead of avoiding it, she dove deep into the issue. She learned everything she could about supply chain management, talked to experts, and implemented new systems to reduce her dependency on unreliable suppliers. She negotiated better contracts, found new suppliers, and even invested in technology to automate parts of the process.

By solving the hard problem she was avoiding, Clara not only improved her supply chain but also created more efficient operations for her business, saving time and money in the long run. The result? Clara’s business grew faster than ever, and the opportunities she unlocked were far greater than what she had initially imagined.

The Power of Solving Hard Problems

David’s story illustrates the dangers of avoiding the tough challenges in your business. By procrastinating on hard problems, you may be missing out on the very opportunities that could take your business to the next level. Clara’s story, on the other hand, shows how solving difficult problems head-on can open up new avenues for growth and improvement.

Entrepreneurs often seek quick solutions or try to bypass challenges, but real success comes from facing the hard problems directly. Whether it’s refining your product, addressing internal inefficiencies, or improving your customer service, the opportunities you’re searching for are often hidden in the problems you’re avoiding.

Conclusion

The next time you encounter a difficult problem in your business, don’t shy away from it. Instead, embrace it as an opportunity for growth. Solving hard problems isn’t just about fixing issues—it’s about finding the missed opportunities that will propel you to the next level of success.

Moral: "You don’t need to go looking for them. Solving the hard problems you’re avoiding are the missed opportunities you’re looking for."