What Came First – The Product Or The Customer?
What came first – the product or the customer? It’s a good question, isn’t it?
Did you start your business because you had an idea for an amazing new product? Sometimes that’s all it takes to see the birth of a great new business. But sometimes it’s all it takes to create a failure.
You love your product but do your customers love it?
Oh – customers. Yes, you won’t have a business without them.
How do you know that your product has a market? You know because you have gone out and done your research. You have found people who want what you’ve invented. You have found your market and your customers.
So what comes first?
Seth Godin tells us that “You don’t find customers for your products. You find products for your customers.”
If you are struggling to shift stock off your shelves ask yourself what came first in your business. The chances are that it was the product idea.
The problem with being an entrepreneur is that we are all full of new and original ideas and that’s the part of business we love. We do it well. What we don’t do so well is the research. It’s one of those dull but worthy things that all business owners and inventors have to do. If you are relying on investor funding it’s going to be essential to your campaign. Who wants to invest in a product that does not have a defined target market and which meets an identified need?
Before you develop your product talk to us. The Accounts Studio will help you assess the viability of your product and business idea. We are business specialists who can give you honest feedback and strategic business advice.