Many newly-minted business people will think in terms of who ought to want their products.
This is going about it the wrong way.
One should, early on, ask who does want your product.
You will know this by listening to the responses you get from your outreach and from what your current clients are telling you in person, in e-mails and in classes.
Of course, there are also other factors to keep in mind besides the interests of clients.
That clients want a product may not be enough of a reason to offer it because income possible from a product or service may not be sufficient for you to invest your time and money in development.
Questions to ask: 1.
Does the product offer a sufficient profit margin? Products that are sold too cheaply or which require an expensive assembly are not appropriate if income is your goal.
2.
Who is able to afford your product? Are the numbers large enough in your market to generate substantial sales? 3.
What numbers are willing to pay for the product? Different from afford is the willingness to pay for your product.
If the product is available at lower price elsewhere no one will buy it from you.
If you offer a service that someone else can do with software at lower cost you will be left without sales.
At the beginning of your business development, you do not yet have hard information about clients.
At this stage, you must do some guess work.
Within six to twelve months, you will have much more information to make a more viable assessment.
Good luck marketing your memoir or writing-based company!