Some so-called business consultants put the following argument forward as a foolproof way to produce a product or service for market:
Research your chosen marketing in depth until you find out what potential customers needs are before you come up with a product or service. When you know there is a specific need, you come up with ideas for potential products and services.
Yet most entrepreneurs I’ve dealt with have come up with an idea for a product or service before they have identified a specific need in the market. However, even this approach doesn’t necessarily mean that the original spark or trigger for the idea didn’t originate in the market because of a need, want or desire. Continue reading “Put your business idea to the one-page test before you invest”
