As most entrepreneurs know, a business has three basic elements to be met; product or service, process, and consumers. In which, the consumers are becoming the important key in a business. You need to take into account that the consumers move to find a solution, instead of looking for the product. In order to create an acceptable product to consumers, you need to offer the solution they can get after buying your product. To illustrate, a consumer buys “why” do you create a product, but not “what” do you create.
The biggest mistake of most startup businesses is to build something that people need. Quoted from 100firsthits, a research titled Top 10 Startups Mistake in 2013 showed that 36 percent (or about 300/833 respondents) develop products that are not needed or wanted customers. It’s because the ego of a businessman could be a major problem in building his own business. Yet we know that the consumer is the king – of course, we have ever heard that proverb.
We need to validate and verify our assumption towards the consumers before we create a product. Avoid creating something that will be wasteful because of nobody needs it.
Sensitive to a Problem = Sensitive to Opportunity
The problem has always become the opportunity for a business. Therefore, sensitive to a problem is the key towards the success of a businessman.
Impulsive purchase necessarily exists in our environment. But, the question is, how much the impulsive purchase? How big are the opportunity and the value? Certainly, they are very small when we compare to the solution for one’s needs. A solution can be in any form. Simply, everyone has the desire, needs, problems, and want to be happy.
Whatever we do in our life always leads to an ease and happiness. Fun, easy, and happy things are the main points you need look for when defining an opportunity. When there are many people complain about problems on a specific thing, then there are an opportunity and a huge market.
For instance, the Internet revolution is a great solution in the world of telecommunication. With the internet, we can finally relate to people worldwide with ease. Another example is the airplane that makes us can travel easily and quickly. A little thing that now it might be also important is a blog and YouTube. In which we can learn skills more easily, quickly, and inexpensively through tutorials.
Create a Product Prototype First as the Validation Tool
The prototype of a product is the initial stage, a model, or an example for the development of a product or solution. The purpose of making a prototype is to test whether the assumption of the solution we offer is a really right answer to resolve consumers’ problem. It means, every solution we create must be precisely targeting a specific type of consumers.
Admittedly, solving all of the problems is a difficult thing. In creating the solution, you can start by solving problems that you also encounter. Alternatively, you can search for a solution to something that you think is important. Then define a product you would like to create.
The modern technology makes it easy for us to make use of sciences to solve a problem. The world of industry often make use of the technology in practice – for example, a startup business is identical to the digital world as the business often makes use of digital technology to create solutions.
In a startup phase of business, you need to focus on the main function. So, your prototype product can be quickly tested by the consumers. You can make an approach to get feedback from the consumers. And, if your product is good; the consumers would probably recommend your products or services to other people.
Build, Measure, and Learn
The build-measure-learn model by Eric Rise that is written in the book titled Lean Startup is a right theory to build nimble a startup to cope with any changes. The essence of this cycle is to encourage you to create a product and then immediately test it to the consumers. You can immediately eliminate the deficiencies of the product by reviewing the consumer feedbacks.
To measure it, you need to set a key performance indicator (KPI) as the benchmark. Learning from the consumers’ feedback and critics is the key in developing the product.
Win the Consumers’ Hearts
We certainly feel how Facebook, Instagram, YouTube, Google, etc. to change our behavior every day. Our lives are made easier with all of their personalized services that fit our personality. Indeed, there would be a time people to leave Facebook and switch to another social media platform. However, in a couple years after Facebook become the primary choice of people again.
What bag we use, bottle drinks we buy, ads we watch, the clothes we wear, each of them is identical and specific with our needs wants precisely.
The main choice that is loved by consumers is the main target of your business. They are price, design, media, appearance, flavor, color, etc. which are unique and in accordance with the consumers. Therefore, if you have a problem in deciding a marketing media, advertising concept, and a product design, I suggest you go back to the consumers to understand their needs and wants.
Duplication and Spread Solutions
A startup is a fast-growing new venture to bring innovative products, processes, or services that fit the market needs. Besides that, a startup also has the potential to grow rapidly (scalable), as quoted by Forbes. The right business model is the key. If you have done something right successfully, you have to immediately replicate it quickly.
Be a tremendous business that can win consumers’ hearts. You can get it by building your business to be successful through involving consumers. Therefore, create a product by delivering a good consumer experience repeatedly until they get the satisfaction they need, want to feel it again, and they recommend your products to the other people.