Tackling a Problem in Life & in Business

We are faced with problems in life and in our work on a regular basis. I have a framework which I use to tackle problems which I face in my life. Having a framework is important as it gives you a way to approach the problem at hand.

Step 1: Identify the problem very clearly. It should be defined concisely in 1 sentence. For example, a problem for a business can be “Low customer conversions”.

Step 2: Define clearly all keywords in your problem statement. Here targets are also defined. Taking the above example, state what low means, i.e. what the current rate is. Define your target for the same. After this, define customers very clearly and comprehensively. Who your customers are, the demographics, the source etc. Lastly, define what conversion means. This could be a sale, a sign up, a subscription etc.

Step 3: Work out a solution. Using tools like surveys, feedback and opinions, try to identify why this problem exists and what can be done to overcome it. For example, a business can try a free trial business model to make customers try out the service before purchasing. This creates customer trust and could lead to higher conversions.

Step 4: Implement the change you think can solve the problem. Try to highlight the same so that is clear and visible.

Step 5: Assess the developments. This is the step most of us tend to ignore/forget. It is crucial to assess and identify without any bias whether the problem has been solved. If yes, congratulations, if no, go back to Step 3 and keep reiterating till it does.