Omer Suner, a seasoned entrepreneur with expertise in fintech and marketing, shares his perspective on the critical first step to building a successful business: identifying a problem worth solving. He highlights that tackling a meaningful challenge is key to creating lasting value for customers and establishing a sustainable business.
Identifying Problems Worth Solving: The Foundation of Business Success
Omer Suner underscores that the core of any thriving business lies in identifying problems that truly matter. “The foundation of any successful business starts with finding a problem worth solving,” Suner asserts. He emphasises that the most impactful problems resonate with a significant or expanding audience, have real and tangible consequences, align with evolving market trends, can be scaled efficiently, and remain inadequately addressed by current solutions.
Suner advocates for a focused approach rather than trying to appeal to everyone from the beginning. Drawing from his experience in his first fintech venture, he targeted a specific group: young gamers in need of a safe and user-friendly payment method. “By zeroing in on this niche audience, we were able to build a solution that addressed their exact needs, gaining a foothold in the market by solving a real and present problem for a dedicated group,” Suner explains.
Omer Suner: "Problems That Create Tangible Pain Points Are Worth Solving"
Omer Suner emphasises the significance of problem intensity, stating, “Problems that create tangible pain points, whether financial, operational, or emotional, are worth solving because people are willing to pay for solutions that alleviate them.” He explores the idea of pain intensity and its impact on a person's likelihood to invest in a solution. By employing frameworks like the Eisenhower Matrix, Suner classifies problems based on their urgency and importance, highlighting that problems in the critical and urgent quadrants often offer the greatest potential for impactful business ventures.
Aligning with Broader Trends to Create Value
Suner highlights the importance of aligning business solutions with broader societal or technological trends, stating, “A problem is far more compelling when it aligns with broader societal or technological trends.” He cites the rise of embedded finance and Banking-as-a-Service (BaaS) as prime examples of fintech innovations that tap into current market dynamics, seamlessly integrating financial services into products to enhance user experiences. Suner further points out how artificial intelligence (AI) is transforming the fintech sector by advancing fraud detection, optimising lending decisions, and offering more personalised customer interactions.
The Power of Scalability in Identifying Problems Worth Solving
Scalability is one of the defining characteristics of a successful business, according to Suner. “Scalability is one of the defining characteristics of a successful business. It refers to growing and handling increased demand without completely redesigning products, overhauling operations, or incurring disproportionately higher costs,” he explains. Suner stresses that scalable solutions allow businesses to manage increased demand efficiently, leveraging economies of scale to maintain or even improve operational efficiency as they grow.
For a detailed exploration of these insights, they can read Omer Suner’s full article on LinkedIn: Find a Problem Worth Solving: The Foundation of a Successful Business
About Ozan Elektronik Para (EMI - Ozan Electronic Money Institution)
Ozan Elektronik Para is an electronic money institution in Turkiye with licenses and memberships from Visa, Mastercard, UnionPay, BKM, and Troy. Its Ozan SuperApp/SuperCard products provide individual financial solutions to end-users. Meanwhile, Ozan Business products address all the payment and collection needs of medium and large-scale businesses and ventures. Ozan Elektronik Para offers innovative solutions such as FijiPOS, FijiCash, and FijiPlace, as well as QR payments, link payments, virtual and physical POS, payment gateway, and dealer collections. Ozan Elektronik Para operates in Turkiye under Law No. 6493 and is authorised to make agreements with member businesses per Law No. 5464.
Media Contact
Company Name: OZAN Electronic Money Institution
Contact Person: Arda Alipasaoglu
Email: Send Email
Country: Turkey
Website: https://www.ozan.com/
