In the book This is Marketing, the author Seth Godin says that “it doesn’t make any sense to make a key and then run around looking for a lock to open”.
The entrepreneur’s job is to spot a gap in the market and fall in love with the problem (the lock), not the solution (the key). Pick a lock worth opening, then spend every waking hour trying to find the right key to open it. Once you have found it, you have problem-solution fit.
Now, what if you have found a key that you are really passionate about?
Seaweed. The positive environmental and social impact it could bring. Contributing to the seaweed revolution. What if these are the main reasons you are started your business in the first place?
You may be running around with a key in your hand, desperately trying to find a lock to open. On paper, this is the wrong way to go about it and it will increase your chances of failure. You won’t be able to force people into thinking a certain way or wanting a certain thing.
Please let me know if this is you - let me know if you have found yourself stuck in this same dilemma and if you have come up with any interesting ways of approaching it - I would love to hear from you.
Let’s look at a couple of ways to think about this:
Look at the niche you are intending to serve. What are the current trends? What are the problems people care about? What benefits are currently being sold to them?
Make an honest assessment of where seaweed fits in. Does it have a competitive advantage in addressing any of the existing needs? If it does, fantastic, but if not, move on. Reverse-engineering the problem carries inherent risks. It means you need to be flexible and open to explore other opportunities. The key to success lies in addressing real market needs.
Try to put sustainability and positive impact to one side. These are important, and may very well represent your WHY, but they are not the lock. They can be good differentiators, not the main reason customers buy. What would make the customer choose your product or service over the competition?
Rootless is a concrete example of how this can be done. The founder, Sachi Singh, identified a trend and unmet need in the market: hormonal health and women struggling with menopausal symptoms. She leveraged the potential of seaweed as a natural source of iodine and its hormone regulating properties. She developed a product that removed any resistance around seaweed’s taste and texture. Customers buy from Rootless because it helps them solve a problem and because they like the taste. The lock is open and the positive impact is achieved as a side effect. Win-Win.
Check out the full interview for more insights around these topics, you can find it on Spotify, Apple Podcast or wherever you listen to podcasts. Now you can also watch it on YouTube!
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