To start with a method and launch a product

If you do not have competition, ask yourself why. If you find a hyper virgin niche, it can mean that it is an immature market and that it is better to try elsewhere.

Among all the profiles, personalities, interests and passions that are necessary for a society to work, one of the most interesting is the entrepreneur profile. The entrepreneur is that person who has a general sense of nonconformity or something about her life or other people’s lives. Nonconformities about how the market works, an industry in particular, politics, society, family or nonconformity in front of itself.

But to take that nonconformity, and make it progress and innovation, it is indispensable that the entrepreneur has other attributes, including optimism, perseverance, resilience, resistance, leadership and above all imagination.

If you are an entrepreneur

You see the world and you find areas of opportunity in each market with a product or service a solution, you are likely to fail at the first. The reason is that ideas do not have the power to change the world by themselves. It is necessary that idea be executed with excellence.

That is why today, you will have three general steps for you to undertake with method and launch a product or service without risk of overlooking opportunities or burning the market.

Step # 1: Define your market and learn from your needs

This is probably the most important thing and what many entrepreneurs omit. Many people think: as I was in X situation, surely they too, or how I know these kinds of people who are in X situation, surely there is a business opportunity here. The inductive method is not necessarily the best when it comes to researching your audience’s needs. It is best that you have the most representative base possible, ask the most intelligent questions openly, and try to deduce the product or the need service, not the other way around.

Step # 2: Generate a product that meets those needs

Now that you know this small group of people, that you have contacted them, that you have interviewed them and that you think you have clarity about the real problems they have, it is time to sit down and imagine, gather your team, know about the existing products or services that already work with this market and they are already working in the market.

Yes, indeed, there is likely to be no company that makes recycled PET engagement rings for brides who do not want diamonds coming from mines, but the fact that it does not exist does not mean that it is because no one has thought of it. It is likely to be something that does not respond to a real market need.

Step # 3: Look at the evolution of the audience and their needs

The fact that a product stands the first moment of truth, and it is sold, or that is attractive for a certain market percentage, it does not mean that it is a product that truly stands the test of time, and relevance by attending to new generations of consumers and generating buying and retailer dynamic.

Entrepreneurship is the main cause for entrepreneurship to fail. Enterprising with method, with research and responding to a need closest to what the market wants is the best, fastest and safest way to do it.