How to Develop an Idea into a Product You Can Sell
How to Develop an Idea into a Product You Can Sell
The Most Common Misstep Entrepreneurs Make
In last week’s newsletter we talked about how to make money. To recap, entrepreneurs need to understand their audience and what they need from you. Once you know what they need from you, then the next step is to develop products and services that fulfill that need.
Which leads us into this week’s obstacle.
How do you develop an idea into a product or service you can sell to your audience?
Step One
The first thing you need to do is develop a vision for your startup. And here’s why this step is so important.
If you don’t know what your startup stands for—then your audience will see you as inauthentic. And that’s the death knell for entrepreneurs.
The last thing you want is for your audience to think you’re trying to “sell them” something, instead of fulfilling a need.
Can you see the difference?
Step Two
Once you wrap your mind around your strategic vision for your startup, the next step is to answer this question:
“What does my core target audience need from me?”
It’s extremely important that entrepreneurs are honest at this stage of product/service development. The lazy entrepreneur will rely on their own assumptions. Do not make this very common mistake.
And its very hard not to fall into this mindset trap.
After all, this is your baby.
But would you rather your baby grow into a big company or would you like your baby to die like 99% of other entrepreneurial ventures?
Now’s not the time to have a big ego.
Listen to your audience and hear what they have to say.
Find their “need” not yours.
When you fill their need—they will reward you with money and accolades.
For Example.
The target audience for this newsletter are entrepreneurs. That means, there are specific things that entrepreneurs need.
But what is the strategic vision of Leaf Academy and The School Doc?
The answer is—to help entrepreneurs overcome common obstacles using 21st century skills and education.
Therefore, the best product we can provide entrepreneurs that fits with our brand is this newsletter.
Starting to make sense?
This newsletter outlines the most common obstacles that entrepreneurs face and then walks them through how to overcome those obstacles using 21st century skills. And the more newsletters you read—the more of a 21st century education you receive.
In other words—you learn by following along.
That means—if you are an entrepreneur—this is the best newsletter you could ever sign up for. Agreed?
Step Three
Execution
The hardest part in developing products and services is the “execution” of your idea. Most entrepreneurs are very creative people, not only that but 99% of entrepreneurs are out of the box thinkers.
But the problem is that most creative people have difficulty following through.
Most creative thinkers have difficulty taking their idea and turning it into a tangible and practical product or service. That’s why Step Three is the most challenging step in overcoming this problem.
Therefore, if you get frustrated with this last step—you need to be aware that you are not alone in that feeling.
One of the most useful ways to help alleviate the stress of this last step is to get feedback on your development process. And that’s why we add the “comment button” to each of our newsletters.
This is your chance to be part of a larger entrepreneur community. Therefore, don’t suffer in silence. If you’re struggling with developing your perfect product or service, use the “comment button” now!
Help Us Grow the Community!
We are asking subscribers to help us grow the community, by sharing this newsletter with at least one friend that is struggling to overcome obstacles in their entrepreneurial journey.
Share this newsletter with them and thank you for showing your support for entrepreneurship!