There’s a common belief among startup audience that a successful business must “solve a problem” or meet an “unmet need.” They argue that innovation should be the main priority, and your product must satisfy customers like no other. But is this notion really such a key factor in business success?

While addressing a problem can lead to a successful startup, it’s not the only path. For example let’s take an ice-cream shop. There’s no groundbreaking innovation there, yet it’s entirely possible to build a multi-billion dollar chain from scratch. It’s just about supply and demand.

This Silicon Valley mindset often points to tech giants like Bill Gates and Mark Zuckerberg as the epitome of success. However, many billionaires come from traditional industries, not just tech startups. So, what’s stopping someone from starting a business selling a proven product with strong demand? And why might it still fail?

The key isn’t always in solving a new problem but sometimes in making incremental improvements to existing solutions. That’s innovation.

Innovation doesn’t necessarily mean invention. You don’t have to discover something entirely new. Instead, find a gap that creates a significant impact by making existing products, services, or designs more efficient. Entrepreneurs who seem to lack innovation but still thrive are often the ones who make their systems more robust by taking feedback seriously and improving continuously.

For example, selling bags of dirt on Amazon isn’t groundbreaking, but by addressing a common complaint—bags busting open—through better packaging, you create a reason for customers to choose your product over others. This isn’t invention; it’s innovation.

But innovation is not just about making things better. It’s about making things better in a way that creates a reason for customers to choose your product over others.

You might think, “If my only edge is better marketing or customer service, can’t competitors just improve theirs and outdo me?” Yes, they can. So, while one strong differentiator can help you build a successful business initially, maintaining and growing it will require continuous improvement and value addition. It’s a long game. And we are facing the same problem in the startup world with Productlogz

The essence of entrepreneurship and product innovation lies in consistently adding value, listening to feedback, and making continuous improvements.