Episode 38: Sabeer Bhatia- Problems worth solving
About Sabeer Bhatia:
My next guest on The One Percent Project is Sabeer Bhatia. Sabeer is the co-founder of Hotmail.com and ShowReel. Sabeer and his co-founder started Hotmail with $300,000 and sold it to Microsoft for $400 million within two years. Sabeer believes the success of Hotmail or any startup lies in the core idea of the business and the problem it is solving.
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In this conversation he talks about:
How to validate a problem worth solving?
Why is it essential for a consumer to connect emotionally to a product?
Why was Hotmail a success?
Why do we need ShowReel?
Can founders outsource sales?
Some Key Highlights:
The apple watch is all about emotional connection. Every couple of hours, it tells you to stand up, breathe, do this or do that. What Apple is doing is trying to create an emotional connection with the person inside. It's not so much about just the raw functionality of counting calories or counting steps. Yes, it can monitor your body's vitals and does solve a real problem, but the emotional connection makes it a lifelong partner.
Genuine original ideas are the ones that really change the world. Google, Uber, Apple are examples of companies that have solved existing problems. You just need to have foresight and know-how to use current technology sets to solve the existing problems.
What companies should strive towards is not making money. Everybody is concerned about how you make money. It's not about making money. It's about earning the consumer's trust, and once you have earned that trust or goodwill, you build upon it.
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