Is your problem everyone else's problem? Prove It!
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No, I am not talking about personal problems here.
Many businesses started with someone who solved a problem that they personally experienced. It is a recommended way to explore being an entrepreneur. Solve a problem.
Here is the hard part. Do others have the problem and will they pay you to solve it? Can you prove it?
It is really hard to do. Three buddies in a bar (after two drinks) telling you it is the greatest thing since sliced bread is not proof. Having someone ask you your price and giving you the money is proof.
Large companies spend a lot of money on market studies and test marketing to see if people will buy the proposed product. This is how they get their proof. Even then, sometimes things don't work out. Most small businesses do not have the knowledge or cash to test market their offering.
If you wonder why so many tech companies start up these days it has a lot to do with the question of proof. Many times, the product can be built and delivered for the same cost of testing the market. And in the end the product is available for the next buying customer. That is still not all the proof you need.
The final bit of proof required is can you reach the potential buyers. Not only do you need to prove people will buy but:
- you must prove you can reach them
- and get them to listen to you
- without spending more than you will make on your product each time you sell it
- in a way you can repeat over and over
- and deliver on what you promise
Can you do it? Prove it!