What’s your problem? The importance of problem focused entrepreneurship.

What will attract and motivate your 21st employee — after you have no more stock options, or cofounder titles to give out? What reason do they have for working late, or sacrificing their weekend, to further the goals of your company, when they may easily find a position somewhere with a higher salary? Or many more competitive benefits? That motivation will almost certainly fall on your company’s Big Hairy Audacious Goal (BHAG) and Massive Transformational Purpose (MTP). You’ll find that the BHAG or MTP effectively acts as the soul of…