Part 2/11:
First and foremost, it is critical to identify a genuine problem that customers are eager to solve. Tom emphasizes avoiding “sexy” industries, where competition is intense and problems often lack urgency. For instance, during the creation of Quest Nutrition, Tom and his team recognized a significant gap in the market for protein bars that not only tasted good but also catered to health-conscious consumers. By addressing this need, they secured a solid foothold in an otherwise neglected niche.