Creating products or a business before looking for customers is RISKY to your STARTUP. Nowadays we preoccupy our mind in creating a solution when we don’t know the problem. For example, Miss Y decides to sell skincare products. She produce the products before striking to get consumers. To some, they’ll be lucky to get consumers. But the question is; FOR HOW LONG CAN YOU KEEP THEM?
The secret most entrepreneurs use is not the scenario above. They ONLY decide on what to sell AFTER they have seen a market ready to buy. They sell anything legal that will satisfy the WANTS of consumers. And when I talk of WANT, I look at the fact that MOST business people go into the needs of consumers not knowing the market is all about what a consume wants and not what he needs.
Let me give you an example using my business. I run a printing press in my hometown and I chose this business because I noticed people traveled from my town to other towns for printing services, there was a high need of such a business and though I saw the market, I didn’t see the money to start. I wasn’t discouraged, I started with what I have (my hands, mouth, legs, eyes, and brain)…lol
It sound funny but I used my legs to visit different printing press out of town, and my hands to touch the products they were producing. My mouth to ask questions and know more, and my brain to think and reason out things. That’s how so many of us started our businesses. We didn’t wait for a big sum before we could dive into the market, we started with what we have.
When I returned to my hometown, I told people about my services and how I could make things easy for them by meeting them at their various positions and we talk on what they want, then I get and deliver to them. Months later I discovered I had made some money from the business and I could go for a space, then machines. Today I have built my business and I’m making profits.
If you have to start a business base on what people need, you may actually not end up in business. It is hard to meet people’s needs but there are things people will always want and when you find that, do not hesitate to get into business. Your daily experiences and interaction with the world and its people should decide which market you should go into. When you think about markets, you will be urge to study it. But when you think about products, all you will want to do is START and then it leads you to another phase of searching for who to buy. Go for what GARY HALBERT called A STARVING CROWD.
AKIN ALABI ”if you have a starving crowd, your restaurant would be very successful even if your food is terrible. Look for your own starving crowd, discover what they WANT, and create a business around it.”
Before starting up a business ask yourself if people will come hunting you and for how long??? If you cannot answer bravely then DO NOT VENTURE into that business. The purpose of starting a business is to see it grow in prosperity in the years ahead and so think of that each time you plan on starting a business. Do not make mediocre assumptions. Assumptions like “Every human must wear clothes, eat food and drink water” so you start selling clothes, food, or water. That’s a need and no matter what people will have those things anywhere and everywhere unlike their wants, they don’t get to find it rampantly. That should be your focus in business. Getting to know their wants and making it available for them with ease.
Selling wants doesn’t mean you are selling bad or immoral things, you are just being a smart entrepreneur that goes into selling good things to please the wants of consumers.
You will notice today that we have more relationship counselors online than people in relationships. I don’t know if these counselors are catching out but they have every right to because in most cases they tell people what they want to hear. That’s a good business, selling relationship advice to people. Everyone is striving to keep a partner and become better and so must of them will buy whatever advice you sell.
You can also focus on upcoming artists, follow them up and grab their latest hits. Make sure you have a huge followers who actually love your art, ask them to go listen to the latest hit and make the upcoming artist known. That’s another method of catching out because upcoming artists will pay you to publish their songs.
In business we need to think beyond our KNOWS. The main deal is to make money out of it and in order to make money we need each other. We can only capture each other if we know what we all yearn for.