It is always exciting working with new entrepreneurs as they begin to see how their product or service can really make an impact in the world. We watch as their eyes light up when they talk about the business. They talk faster and get more animated. Then reality hits. You begin to identify what really needs to happen in order for the product or service to see the light of day. The question we get asked often is “How do I get started?” Here are a few simple steps to get started right.
Number One – Each product or service must service a need for a customer. We call this the Customer-Problem scenario. If you cannot identify a meaningful need to solve for the customer you are in trouble. People buy things because they solve a need, make something easier, keep them safe, keep them healthy, etc. Your customers do not have the time or patience to figure out the need for you.
Number Two – Each product or service must deliver a minimum of one Relevant Benefit to the customer. Your customers need the ability to instantly understand how your product is going to help them in their personal or business life. Customers compare. They compare your benefit to other products. They look for the best or right solution to their need. You might be able to solve a number of needs, however make sure you pinpoint the benefit with the greatest meaning.
Number Three – Each product or service must be able to factually prove the relevant benefit. Proof is critical. Do not make benefit statements that cannot be backed up. Remember, customers compare. They want to know they will receive the benefit worthy of the price they pay.
Number Four – Each product or service must be high Quality. You can no longer put out a mediocre product or service in the 24-x-7 instant access social world. Customers are brutal when it comes to getting the perceived value. Good quality has become a minimum standard.
Number Five – Innovate! Success is a fleeting period of time. Customers expect you to make your product or service better and better. If you do not, someone else will. One hit wonders survive for a limited time.
Starting something new is not for everyone. However, hundreds of people start new products and services every week. The key is to get started right.