Tag: market test

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How are you going to test your new idea?

Michael Bradshaw ready to paddle out into the waves at Longbeach, Kommetjie. (Copyright © 2015 by Chesney Bradshaw, all rights reserved)
(Copyright © 2015 by Chesney Bradshaw, all rights reserved)

How do you know if your product is going to be a winner? Do you know how to reach your market? What happens if you build your product or service and no one comes?

The high rate of product or service failure is a good indicator of how many would be start-up entrepreneurs put something out into the marketplace but quickly find out that the demand that they anticipated is not there. It could be apps, online courses, educational DVD sets or even books. Continue reading “How are you going to test your new idea?”

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Put your business idea to the one-page test before you invest

paperbackstackSome 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”