What real problem does your business solve?

Web 2.0 | 2007/04/12 20:32 | Web 2.0 Asia

The question any web company should ask itself constantly is this: What real problem does your company solve? In the recent Knowledge at Wharton online magazine, a piece called "Two Technology Executives, Two Views of the Virtues/Perils of Connectivity", Robert Carter, the CIO of Fedex, cites Stubhub as an example of a company that solves a real problem. Stubhub is an online ticket broker - the company "hooks up holders of extra or unusable event tickets with fans who are eagerly seeking to buy them at market value."

The company was sold to eBay at $307 million, and Robert thinks this is a bargain. I think I agree with him. Anyone should have an experience where he/she wanted to see if there are enough tickets left for today's game, and if those tickets can be purchased at a reasonable price. If you are a sport club owner, you'd want to sell every single ticket throughout the season. If you are the owner of Manchester Utd, you wouldn't have such worries. But if your club is selling only half the tickets all the time, you'd want to sell the rest of the tickets at even half the price. If services like Stubhub can help you do that, you will be happily pay them for providing such service. So again, What real problem does your company solve?

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