Market research and study competitors, do market research before launching anything and see what people are saying in the framework of specific product reviews, on Trustpilot, Facebook groups, Reddit, and other forums Is there a common problem that keeps emerging, Do people badly need a product/service that is not available? Well here you go – you have an audience ready to receive the product so in this article we will talk about market research and studying competitors.
Market research and study of competitors
Feedback from competitors’ customers, feedback from customers before launch, and feedback from customers after launch.
Do market research before launching anything – see what people are saying as part of specific product reviews, on Trustpilot, Facebook groups, Reddit, and other forums. Is there a common problem that keeps emerging, do people badly need a product/service that is not available? Well, there you go – you have an audience ready to preach.
Finding your first adopters and asking them (again) their opinions are the key to any successful business and generating new ideas. You might think: “Wait if I’m offering them a product, why do I need a new idea?” Well, as it happens, pivoting and potentially doing 360 on your product and/or service can be a lifesaver for any business as it might show them an image sharing service, and you find that they really want a secure data provider as long as it makes sense from a margin point of view, which is Something you can and want to do so why not take them in?
The third step is easy: keep receiving feedback after starting your business and each feedback episode may mean new ideas, and more ways in which you can adapt to the desires of your customers Do not fall into the trap of thinking that you always know what is best for your customer and you desperately need the vision, the customer It’s not always right, but the ability to adapt is the key.
Think about alternatives
Ideas are always available in different things, the human mind will constantly think about things and their alternatives, and we do not care about them or consider them deeply.
You can get great ideas by:
Read books.
Follow people who have already succeeded in the business you are looking for and be inspired by their story.
When you are out with friends, you will get good ideas by seeing things around you just use them.
Travel with different people to different places and see what they need and be inspired by it.
Move with people who like you. Discuss planning with them and let your idea grow.
Generate business ideas
Business ideas are often generated from 3 things:
A problem that you personally encountered in your life that you did not find a good solution for or have a potential solution to it and the majority of business is generated this way As for me at zipBoard, we found that navigating distributed teams while creating creative content is painful, so zipBoard was born.
Ideas are born out of a passion: For many creative business owners, seeking to share their art, food, or anything they find close to their hearts leads to building a business out of it.
Industry knowledge and gap: Sometimes, if you know the industry well and also understand the gaps in that industry, it might be something as simple as a small advantage not being offered by the big players, pricing, or something missing educational.