Once we have a business idea, we get into sprint mode. We want to put it into practice immediately. So, our primary focus is to quickly develop and launch the product or service we have in mind. Then we shift fixation to achieving more sales, significant market share and high returns on investment. And along this path paved with inertia, entrepreneurship and expectations, we forget to learn in-depth about customer expectations.
And, please don’t get me wrong here; many businesses segment products and markets, but the specificity of their customers’ expectations remain incognito. And that is a problem. Because if you don’t have a solid understanding of your customer, everything else you do is sitting on a crumbling foundation, doesn’t matter how good your business idea might seem.
However, if you study the market upfront, understand the customer expectations from the moment you decide to move forward with a business idea, and continuously monitor the market, you will build a successful business. You will have a solid foundation to grow and scale, and sustain.
These questions won’t give you straight answers to what design, price, and placement are right for you. Instead, they are intended to make you think and discover if there is a market and how that market would react to your idea (templates here).