Understanding Others’ Needs or Starting with Your Own: Two Paths to Entrepreneurship

There are two approaches to entrepreneurship. One involves putting yourself in users’ shoes and considering what they might need, even though you do not personally have that need. Zhang Yiming, for example, did not create Douyin because he wanted entertainment himself, but because he identified a pain point in the market. Huang Jinfeng did not create Perfect Diary cosmetics out of a personal love of makeup, but to meet the needs of a large audience of women who enjoy it. The other approach starts with your own needs: if I have this need, might other people have it too? Your personal experience determines the direction of the venture. You begin by serving yourself, then gradually reach a group of people who share your pain points. In the past, successful ventures almost always took the first approach. We emphasized consumer insight and trusting the data. In recent years, however, more founders have started with their own experience. Wu Jun, the founder of coffee brand Saturnbird, is a coffee enthusiast himself. Before founding Xiaohongshu, Qu Fang was already an enthusiast of shopping from overseas. Why are more ventures now starting from founders’ own needs? Business commentator Cai Yu offers an insight: what consumers want from brands has changed. Previously, they wanted brands to ‘understand me’; now, they want brands to ‘empathize with me.’ Understanding me means knowing what I need. Empathizing with me means not only knowing my needs but also resonating with me emotionally, making me feel that you are on my side. When someone is frightened, an understanding response might be to reassure them: ‘Don’t be afraid. It’s all right.’ An empathetic response would be: ‘That really is frightening. I’m scared too.’ We used to say that doing business means amplifying one person’s drive to make something happen. In fact, what can be amplified is not just that drive, but also your personal preferences. As the saying goes, business is, at its core, an amplification of the person. #DedaoHeadlines20230717 ---- Robin: ‘Personally, I still feel that the ideal way to start a business is to begin with your own needs. But if those needs are not particularly clear, or amount to an illusory need confined to a tiny niche, the business may ultimately struggle to grow. If your own needs are unclear, you must at least develop deep insight into your target users and put yourself in their shoes.’