– That's a very good question, how do you find thatright product market fit.
Especially maybe this isyou first couple businesses that you're just getting started.
Now the way I like to do it, not the way that mostpeople like to do it.
I don't actually focus on the product, I focus on the market first, always.
To me market always comesfirst and product comes second.
I want to find out what arethe needs in the marketplace that are not being, that's not being filled.
I want to see what problemsare not being solved.
I always say that everyproblem is a product.
I want to find out whereare people frustrated about a certain thing.
Now of course if you wantto create a new category, you want to be a category king.
You want to be, tap into a blue ocean.
That's something that no one's ever done.
That's perfectly fine if that's your goal, but for my perspective, most people simply don'thave that abilities.
Most people they are too green.
It takes some skills to do that.
But if this is yourfirst couple businesses, you are much safer and wiser just to see what's out there right now.
What's already selling? What are people already searching for.
And let's say if you areselling something online, what are people searching forand already buying on Amazon? What are people already buyingfrom other e-commerce sites? What are people buying interms of keyword research? What keywords are they typing into Google.
They can easily go toGoogle and then the keyword tool then you can find out, how much search volume are there, are people actively looking for solutions to solve their problems.
You see if you have identified the needs and the demand already, now you just need to think about, “I wonder what product I could create “to help them solve thatparticular problem.
” Now you have minimized your risk.
Or if there's a huge marketplace out there that's been created by other people, a smarter entrepreneur would be thinking, “How can I kind of ride that wave? “How can I tap into that?” Example, instead of you trying tocome up with the next thing to maybe compete with Apple, the next iPhone.
You're not Steve Jobs, I'm not Steve Jobs.
Chances are that's not going to happen.
But you could probably have a very decent business to sell iPhone cases.
You might have a verydecent business to sell maybe those protective shieldsthat protects people's iPhone.
So you think about because of a company created such a massive demandfor this particular product.
What are some of thecomplimentary products that you could sell, right? It's like you think about in the ocean, we have the big whale, right? The big whale that'sswimming in the ocean.
You're the little fishthat attach yourself to that big whale, right? Just the leftover fromthe big whale alone, you could have a very very successful and profitable business.
Without a lot of the risks, without guessing, well I guess people want it, I guess there might be demand for it.
No you know because this is, this marketplace out there, there's massive demandthat's been created, you've just got to tap into that.
That is a very very smart way.
I call that chickenentrepreneurship, right? That you are like, you're being a little chicken, you're living afraid, you're being conservative.
Taking not stupid riskbut calculated risk, how can I use the least amount of money by getting my business going, right? Then from there once youhave accumulated the capital, once you kind of have somesuccess under your belt, then you can do bigger things.
Versus, “I'm going to invent thenext thing that's going to be “the next iPhone, better than the iPhone!” Well chances are you'renot going to do that.
You're not Elon Musk, you'renot Steve Jobs, right? Let's just face it.
It's good to be realistic in that regard.
That would be my recommendation.
Any other marketing questions you have, I always look forward to somegood marketing questions.
Some say I'm one of the greatest marketers on social media, I don't know if I am, but I definitely knowa lot about marketing.
And a lot of entrepreneursand business owners come to me for marketing help.
So comment below, if your question is good I will from time to time pick a goodquestion and answer them, when I'm on the way doing something.
So until then, I will see you in my next video.
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