Problem Statement

Section (Statement)

Problem

Information

"US democracy faces imminent threats from both foreign interference & internal discord. Widespread misinformation erodes public trust, hindering effective decision-making. Rampant corruption, exemplified by emerging oligarchs hoarding redistributed wealth, obstructs upward mobility. Coordinated acts of hate, utilizing 'divide & conquer' tactics, pose a severe risk to the very core of American society. Recognizing these challenges is crucial for fostering awareness & mobilizing efforts to safeguard the foundations of our democracy.”

A well-structured problem statement is clear, concise, and focused on the customer's pain points or needs.

1. Clear Identification of the Problem
• "Customers struggle to [specific problem] because [reason], leading to [negative impact]."
• Example: "Small businesses face challenges in managing their online presence effectively because existing tools are complex and time-consuming, resulting in missed growth opportunities."
2. Emphasis on Customer Pain Points
• "Our customers are currently experiencing [specific pain points] when trying to [accomplish a task], which causes frustration and inefficiency."
• Example: "Homeowners encounter difficulties in finding reliable and affordable home maintenance services, leading to frustration and wasted time in their search."
3. Quantification of the Problem
• "Approximately [percentage or number] of [target customers] struggle with [specific problem], indicating a significant market need for a solution."
• Example: "Around 70% of small businesses lack efficient inventory management systems, resulting in overstocking, stockouts, and revenue loss."
4. Focus on Urgency and Impact:
• "The current market urgency stems from the fact that [describe urgency], and addressing this problem will lead to [positive impact]."
• Example: "The increasing demand for sustainable packaging solutions highlights the urgency for eco-friendly alternatives in the market, presenting an opportunity for innovative packaging solutions."
5. Connection to Business Opportunity:
• "Solving [specific problem] presents a lucrative opportunity in the market because [explain market dynamics and potential]." Example: "Addressing the need for personalized fitness solutions aligns with the current trend of health and wellness, creating a substantial market opportunity for our innovative fitness app."