With IAG fast approaching, Chen gave some advice to fellow entrepreneurs who are also looking to dive into the start-up world. Chen finds that one of the biggest mistakes entrepreneurs make is creating a solution first and then they trying to find a problem. Instead, smart entrepreneurs look for the problem before even building the product. He said that it is crucial to talk to businesses, talk to the people and then sell them on a solution. Your solution should always be changing to match their problem, you need to pivot your solution to what the customer and the business needs.
Chen says that most people, especially young entrepreneurs in college, try to think of an idea that no one has done before when trying to establish a venture. This is nearly an impossible feat. Instead, the key to be a successful entrepreneur is to provide a solution to a problem. Ask yourself two questions: Is there a problem? If so, can I provide a solution to that problem?
Most ideas die because people try to find the most unique idea and give up when they realize it has already been done. Alternatively, they find a flaw within their venture and abandon the idea all together. Every single business has its own share of unique problems and the entrepreneur’s job is to keep working through the problems that arise throughout the process to achieve the vision.