Thursday, June 26, 2008

Concept Testing...Why Wait?

Concept testing is a powerful way to test your entrepreneurial venture. Before you fully invest in developing your product, it's best to see if your target market is willing to purchase it. How will you know if they're willing to purchase your product? Ask them!

Ask them to place an order. If your product is not yet fully developed, ask them to order anyway. As long as you inform your customer of your plans to develop your product, it is a great idea to ask them to order or sign up.

Finish developing your product once you've determined that your market has a genuine need or desire for your offering. Here's an example, my latest venture eFitness Solution is a web-based solution that helps personal trainers build profitable businesses through online fitness. The product is almost finalized, but the design of the website is complete. Rather than waiting for the product to be developed before I begin marketing, I am informing my market the eFitness Solution is coming soon. I am allowing users to sign up so that they will be among the first to try the product. Users who sign up to try eFitness Solution will be informed once the product is complete for use. Both my market and I are happy because we both end up winning. The user will be able to access eFitness Solution once it launches and I will begin building my list of interested users.

1 comment:

Anonymous said...

vote yes on gay marriage.

Steven and Nick