Last updated on February 3rd, 2021. Posted in Find Your Business Niche.
How can you know for sure if your product or service will sell? Or, if you're just getting started in your business, the biggest question is, "how can I make a product or create a service that I know for sure will sell?" Really, there are only two approaches.
Here are links and resources mentioned in today's video. Enjoy!
1) You can do what most business newbies do and that is to guess. To hope. To dream up some "magical big idea"...fall in love with that idea, protect it like secret treasure, and develop it over the course of months or years into an absolutely perfect product.
Initially, this first approach is very attractive. It's filled with excitement and lots of motivation...but it quickly devolves into over-analysis, going around in circles, and doing all sorts of busywork that really doesn't move you forward. That's the first approach.
2) A second approach is far less attractive and exciting...but has a much higher chance of success. And that is to discover what people already want. That is, find out what big problems, challenges, and pains they have...that they're willing to spend money to fix.
And believe it or not, but this is discoverable -- you can find this out.
The first approach beings with a product or service -- a solution that promises to solve some kind of problem (that's what a product or service is). With this first approach, you start with a solution...to a problem that may not even exist...and then try to convince other people that they have this problem.
So here, it's solution first, then customer.
The second approach puts the customer first. Here, we find out what their biggest problems and pains are FIRST...THEN we offer them a solution in the form of a product or service to solve this problem. Here, it's customer first, then solution. I hope that makes sense.
Hope you enjoyed. See ya next time!