We see new product ideas, service ideas and business ideas on a weekly basis. Some good ones, some bad ones and some crazy ones, but there’s one simple guideline successful product, service and business development follows:
Develop to fill a need.
Way too often we see people launch a business because it’s what they love. Unfortunately, what you love doesn’t necessarily fill a need. Don’t get me wrong, I’m not saying you should do something you hate. It’s just a good idea to make sure there is a true need for your product or service before you toss all of your life savings at a business. Failure to find a need is a recipe for failure.
The same goes for companies who launch a new product or service because it’s a convenient addition to their lineup. Unfortunately, convenience for you doesn’t necessarily translate to a need in the marketplace. All new ventures should fill a void. It’s extremely difficult to review your own ideas objectively, but it’s crucial to the development process.
It’s our job at Harvest to effectively market the products and services of our clients. We pride ourselves on identifying what makes our clients unique and building a brand and/or campaign around those unique benefits. However, if you are late to the party it probably won’t matter how well we do our job because we’re trying to fill a hole that’s full. I would argue that your most important marketing decision happens the second you launch your company.
There are millions of holes waiting to be filled, but there are an equal amount of holes that were filled long ago that people just keep trying to cram with new dirt. Keep your eyes open and you’ll spot the empty holes. Listen for major complaints, minor annoyances, big dreams and recurring issues and you’ll find a prime need somewhere along the line.
What do you wish someone would build?
What drives you nuts?
What should someone develop?
What would make your life better?
Please do share and maybe we’ll build it…
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