Image via Wikipedia
Many people I talk to have created a new product which they are anxious to take to market. While no one can predict which product will succeed or which will fail, there are some key indicators to look for. One is passion, passion to solve a problem. When creating your product or service ask yourself this question: Am I passionate about the product I am creating or the problem I am solving?
If you are passionate about the product, it is likely you will fail. There are millions of products introduced each year that looked great to the inventor and fell flat with the rest of us. Many cell phones are coming to market right now that are copies of the iphone from a look and feel standpoint but do not solve the problem the iPhone solved, providing, enabling and organizing e-media.
Passion for solving a problem is the better path. A problem is something humans find common ground in. They naturally come together to identify problems, to seek alternatives, to commiserate their frustrations. They are easily identified as having the problem as a group. Most importantly, they are interested in solving the problem and will look past any specific element of a product or service if they believe there is a chance of solving their problem.
As you define your product and bring your product to market focus on the problem you are solving.
- Interview potential customers not based on the product but on the problem and how they see it.
- Clearly identify all viable solutions to the problem, not just you own solution
- Focus your marketing and sales efforts on solving the problem, not selling the product.
Remember the tag line “When it absolutely, positively has to be there overnight” FedEx was identifying and solving a problem.