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Inspiration Strikes Again

I continually state that inspiration comes in many forms. Typically, though, the best inspiration comes in figuring out how to solve a problem. The problem provides the solution. Here’s another example of how inspiration grew into a viable business, excerpted from an Inc.com article: “In 2007, roommates Brian Chesky and Joe Gebbia had trouble paying their rent. Today they announced that the business born of that need received funding that values their company about $1 billion.” (Note: Whether or not this valuation holds up and grows over the next 5 years remains to be seen. However, this is obviously a great business that can be highly profitable…and thus have strong market value.)

“The backstory: To raise the cash to pay their landlord, Chesky and Gebbia decided to rent out their San Francisco apartment to conference-goers seeking an alternative to hotels in their area. They pocketed $800. Then they built a business, Airbnb, helping other people do the same. Of course it wasn’t a straight line to success. They struggled to break even, attended Y Combinator’s startup bootcamp, eventually landed funding which helped them expand and now have more than 100,000 listings in more than 16,000 cities and 186 countries.”

The best businesses offer a service or product that provides a solution to pain that their customer is experiencing. That’s why inspiration often comes out of solving problems. As a business owner (or aspiring business owner) when you solve a problem for yourself, sometimes you realize that others likely have the same issue and could benefit from your solution.

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About Tiffany C. Wright

Hi! I,Tiffany C. Wright, am the author of the ebook, "Help! I Need Money for My Business Now!!" and the book "Solving the Capital Equation: Financing Solutions for Small Businesses", available on Amazon. I am the president of Toca Family Business Services, a short-term & project-based interim management & strategic and financial advisory firm, located in Atlanta, Georgia. In the past five years I've helped small and medium companies restructure and obtain over $31 Million in financing and a similar amount in purchase orders and contracts. I have an MBA in Finance and Entrepreneurial Management from the Wharton School of Business at the University of Pennsylvania and a B.S. in Industrial and Systems Engineering from The Ohio State University. Personal: I enjoy investing. I am a prodigious reader of everything from business books, magazines, and newspapers to horror and popular fiction. I read 4-6 books per month. I also love to travel. I've been to 33 countries on 5 continents and lived in Japan for 2.5 years and aim for a foreign locale twice a year. I am also an athlete and run track on the Master's Circuit. The highlight was placing 7th in my age group in the 2007 World Master's Track and Field Championships in Italy.

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The Resourceful CEO, Tiffany C. Wright

the president of Toca Family Business Services, a strategic and financial advisory firm which provides short-term & project-based C-level management. She is the author of Solving the Financial Equation: Financing Solutions for Small Businesses, available on Amazon.

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