March 18, 2024

“Your assignment is simple: you must sell something. It can be something you make, something you buy and re-sell, or something you provide. In other words, you must sell a product or a service to pass the mid-term exam.” 

I paused before continuing. 

“One last thing—you cannot sell it to someone you already know.” 

With that, the test had begun. The students had two weeks to earn a passing grade by acting out the central drive of entrepreneurship. Leading up to this assignment, we had talked extensively about the three primary steps involved: first, you paint the problem for the customer; second, you demonstrate the solution to the problem; third, you create value in the exchange. While simple in nature, these steps are incredibly important. 

It is a common mistake among entrepreneurs to fall so much in love with the solution that they forget about the problem they set out to solve in the first place. To be successful, we must encourage students to fall in love with the problem because that is how they will connect most fully with their customers. And connecting with customers is key. We talk a lot, in educational circles, about…