In this episode, Mel Abraham talk about how to create an elegant solution for your customers and your market. An elegant solution is the simplest way to get the greatest impact. It should be something that can withstand time and get the attention of the marketplace. It's the "Aha!" solution.

An elegant solution will serve your market at three levels:

Level 1: Dealing with the known and spoken problems.

These are the things that are commonly known and talked about. Even though everyone is talking about it, we need to come up with a solution.

Level 2: Dealing with the known and unspoken problems.

These are the things that are not commonly talked about. It takes work, research and understanding to get to the bottom of this.

Level 3: Dealing with the unknown and unspoken problems.

These are the things that aren't even thought about. People aren't simply aware of these problems but they are coming at them.

Concept of IDEA Loops

IDEA loops are used to constantly refine products and services. There are several questions you need to ask along the way.

Investigate: It's about questioning, studying and understanding.

Questions:

1. What are you trying to do and why?
2. What are the facts and issues that surround not only the solution but also the problem?
3. What is the problem and its cause which is seen after the investigation?

Design: It is about creation and design of the solution, product and service to answer the three levels of problems.

Questions:

1. What does the perfect solution looks like?
2. What ideas exist for achieving it?
3. What is the best solution that you see right now?

Execute: Going out and delivering from the context of getting feedback and testing.

Questions:

1. What would you expect to happen?
2. How are you going to test the solution?
3. What is the response?

Adjust: Reflecting on what has happened in terms of results and feedbacks and ways to change it.

Questions:

1. What did and didn't work and why?
2. What do we need to do next?
3. Do we need to re-design it?

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ABOUT MEL ABRAHAM

Mel is the founder of Business Breakthrough Academy and Thoughtpreneur Academy where he helps entrepreneurs bring their businesses to the world and build the lifestyle that they want. Mel is one the most sought after entrepreneurial mentor and strategic thinkers of our time. Unlike many other so called “business coaches”, Mel has lived everything he teaches and continues to do so. Mel has built, bought and sold numerous multimillion-dollar businesses for himself as well as his clients. As the author of The Entrepreneur’s Solution: The Modern Millionaire’s Path to More Profit, Fans & Freedom Entrepreneur, Mel’s strategies have helped build thousands of businesses and have generated hundreds of millions of dollars for his clients, ranging from large corporations to startups and small family-owned businesses.

Mel is a true believer in the entrepreneurial way of life and says that this “new frontier” is the paradigm that will shift society from simply existing to living life bigger, bolder and on their own terms.

Meet Mel at http://melabraham.com/

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THE ENTREPRENEUR'S SOLUTION

The Entrepreneur's Solution is a weekly entrepreneur, business, wealth and lifestyle show where entrepreneur, speaker and author Mel Abraham reveals all of his business and entrepreneur building strategies. Mel is one of our time's most sought after mentors and speakers that not only teaches but also lives what he teaches. Discover how to design, create and build your business so it gives you the life and lifestyle you want.

Subscribe to the free entrepreneurial podcast here: http://melabraham.com/podcast

The Entrepreneur's Solution Blog on Tumblr: http://melabraham.tumblr.com/

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