Did the Monday Morning Commute get you down? Dreaming of owning your own business….
CONVERTING YOUR DREAM INTO A BUSINESS…
Do you have a concept that you believe would be a great product or service? Many times the greatest inventions come from the most unusual places and when you stumble upon an idea – the next question is, “What do you do with it”? Here are
a few simple steps to put your concept to the test to see if it can become the business of your dreams!
WILL ANYONE BUY IT?
We all like to believe that our friends and family are a reflection of the marketplace, but regretfully their “buy in” is sometimes not a valid market test. To find out if your product or service is “cash worthy” give it to a few friends, but ask that they share it with others outside of your circle. When strangers begin to inquire on where to buy your product, be rest assured you are on the
path to a strong opportunity.
CAN I EARN AN INCOME FROM IT?
In today’s economy everyone is out for a deal – but do not undervalue your new product. Work to find a balance of both quality and affordability. Remember that in the beginning you may have to set an introductory price to get new customers to test your product, but overtime as your reputation builds so will the ability to increase your money making potential.
CAN I AFFORD TO MAKE THIS PRODUCT?
Be frugal by purchasing only what you absolutely need to make and sell your roduct. Save money with online companies such as www.vistaprint.com for business cards or build an affordable website with companies like www.handzon.com. You do not need a lot of money to build a successful business. Remember the more you save – translates into the more you earn.
HOW DO I KNOW WHEN MY PRICE IS RIGHT?
This is where you’ve got to put on your business hat and put your ego in check. If your customers tell you they love the product, but hesitate to buy due to the price you need to find a more realistic price point. However, if your customers are buying multiple pieces without hesitation, then you are probably a bit under priced. This is not a bad problem to have as long as you can keep
up with the customer demand. Finding a balance that works for you and the customer is the key to a successful pricing strategy.
AM I DREAMING…IS THIS REALLY POSSIBLE?
Every entrepreneur loses sleep over this question and the answer is yes – this dream can come true! You are not unlike those that have gone before you, changing the world one product or idea at a time. Do not fear the unknown – embrace it with gusto, enthusiasm and a clear focus on building the right product for you and your customers!
Written By: Roxanne Reed