Loss aversion is a principle from prospect theory (developed by Kahneman and Tversky), which shows: The psychological pain of losing something is about twice as powerful as the pleasure of gaining the same thing. Losing $100 feels worse than the joy of gaining $100 . This skews decisions — people avoid risk even when it could lead to a better outcome. Loss aversion : Losses loom larger (not just larger, twice as larger) than equivalent gains. This explains behaviors like rejecting fair bets or holding on to losing stocks too long. Ppl are more sensitive to loss than gains. We tend to make decisions based on loss aversion instead of seeing that can we gain out of the decision. We tend to act more based on loss aversion, than on potential gains. This skews decisions — people avoid risk even when it could lead to a better outcome. 🧠Why It Happens (Psychology Behind It) Evolutionary roots : In ancestral environments, losses (e.g. injury, food scarcity) could be fatal...
Short version: 1. Solve a Problem Identify Pain Points : Find daily frustrations that need solutions Improve Existing Solutions : Make products better/faster/cheaper 2. Leverage Your Skills & Experience Monetize Hobbies : Turn passions into businesses Utilize Professional Skills : Offer expertise as services Tap "Zone of Genius" : Focus on what you excel at and enjoy 3. Identify Market Gaps Target Niche Markets : Serve specific underserved segments Analyze Competitors : Find what they're missing Listen to Feedback : Note common complaints 4. Track Trends & Make Predictions Stay Informed : Follow emerging trends Anticipate Future Needs : Capitalize on upcoming shifts Find "Blue Ocean" Opportunities : Create new market spaces 5. Creative Thinking Techniques Classic Brainstorming : Generate many ideas without judgment Mind Mapping : Visually organize thoughts SCAMPER : Substitute, Combine, Adapt, Modify, Put to other use, Eliminate, Revers...