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Niche Finder Challenge – the hard way or the easy way?

How do you go about developing an new product or service?

When I said this to a friend last fall, she thought I was crazy…”You need to identify what your market wants before you create your product.”

She thought I had it backwards. Do you?

Think about these 2 scenarios…

#1 You have an idea for a product and you invest months of your time, energy and money developing it.

You then put up a website, you do everything right to drive traffic to your site, you go to all kinds of networking events and you tell all your friends….and nobody buys your product.

#2 You have an idea for a product. You do your research and you confirm the research through testing.

One of 4 things will happen.

• You find out that nobody’s interested in your idea so you abandon it and move on. In this case you have just saved yourself months of time, energy and money going down the drain.

• You find from your research that they’re not interested in your original idea but they are interested in something related to it. You then rethink your product and develop something you know they want.

• You find out they’re not interested in your original product idea or anything related to it, but they are interested in something else entirely. You go out and create what they want.

• You find they love your idea so you know developing your product is a worthwhile investment of your time, energy and money is

Which approach are you going to take?

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