You know that feeling when you have an excellentidea and you thought, let's just hustle and create this product and sell it immediately.
?Iknow.
I have been there.
But this is a sure of how not to start a business.
Let me explain to you why.
Let's roll that intro.
To build a sustainable business require somebasic research before you can move into product development.
This will save you a lot of trouble later.
Skipping this part is one of the major reasonswhy many companies go out of business even before its first anniversary.
When you have an idea for a product, or evenif you don't, the first thing that you need to do is to determine your niche.
There are 3 basic categories of human desiresthat your product is going to fall into.
These are health, wealth and relationship.
Let's say you are in wealth, you need to godeeper into the subcategory.
So in wealth, your product might address howto create wealth using online business, real estate, investing and others.
But this is not your niche yet.
Your niche has to be one step deeper.
If you are doing real estate, then your nichecould be, how to flip houses with no money.
That's your niche.
When you have determine your niche, it's timeto find your ideal client.
This is the time where you create detailedprofile of your ideal client.
For example, if you are selling women shoes, then your ideal client has to be women, age 20-45, working 9-5 job, has interest in fashion, busy women, the more detail the better.
The client profile is very important becauseyou need to use this to find out where they are congregating.
In everywhere, if you notice, people are congregatingwhen they have similar interest.
Take facebook group for example, there aregroups for literally any hobbies on earth.
You can even find group for people who areinterested in hunting bigfoot in the jungle.
So find where you ideal client is, join theconversation and figure out their problem.
Then, try to solve the problem for them sothat you become an expert in their eyes.
This will help a lot in terms of your credibilityso if you make an offer later, they would not think twice about buying because theyknow that you always deliver.
When you have been there for quite some time, you have now understood what are their problems.
Now it's time to package your product in theform of an offer that solves all of their problems.
I'll give you another example, let's say thatyou sell water cooler.
You've found out that their problem includeshigh pricing, maintenance, filter gets clogged quickly, water is not cool enough, water leakingand other problems.
These are the problems that you can solvein your cool offer.
So now when you are selling water cooler, you can include offers such as free yearly maintenance, additional filters for $50 more, 3 years warranty, and whatever it is that you can include to solve all of their problems.
If you can afford this for free, that's goodbut if not, offer them a premium package that they can pay to solve all of their problems.
You need to remember that people don't paymoney for the product, they pay money to solve their problems.
And if you can solve that, they would payyou well.
Now that you know what is your offer, youneed to build a sales funnel that can highlight the amazing offer that you have created.
A sales funnel is kinda like having a salesmanworking for you 24/7 without asking for a break or a raise.
So if you wake up on the wrong side of thebed and you don't feel like selling today, you still close the same percentage of clientthat day.
And that is very powerful.
Sales funnel provide all the description andyour offer, including the order bump and the upsell and also a secure way for your clientto send you money.
Now that you have a sales funnel ready, itis time to introduce your funnel to the world.
The first group of people that you can showyour funnel to is the facebook group that you joined and helped solved their problems.
They will be your early adopters.
To accelerate the results, you can also useads either in facebook or google.
The good thing about these platforms is thatyour ads are only going to be shown to those who are already interested in water cooler.
So this saves you a lot of advertising moneyas compared to the TVs and radios.
There you go guys.
These are the steps for you to start a sustainablebusiness.
Instead of just focusing on product development, don't forget that it is important to recognize the market demand and that it is importantto establish yourself as an expert in the area.
That way, you will have a much better timedeveloping your product, knowing that there are people out there that are willing to purchasefrom you.
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Also, don’t forget to leave your commentbelow about what do you think I should cover next that will help you to grow your business.
I’ll talk to you soon.
I wish you all the best in your entrepreneurshipjourney.
Bye!.
