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Need Tips On Ways Of Testing My Product/Service Ideas In The Market

by CyberAlchemist
5 replies
Hi Warriors,

I've recently heard a entrepreneurial podcast where the guest speaker said something that was revolutionary to me. He said when it comes to this entrepreneurial thing it is best to "Make Money First and Then Build The Business Second".

So basically what he was saying is if you have a great idea for a product or service. It is best that you quickly build a MVP (minimum viable product) version and get it to the market fast to see if people will even buy it.

If people are interested in your MVP, now you have that proper motivation/money to build a business around it. If people are not interested in your MVP, cool as well because hopefully you haven't spent that much time or money on creating the product or service.

I thought it was GREAT advice, and it also explained why my last two businesses have failed.

WARRIORS!!!! I want to ask you, how have you tested if people would even purchase your product/service before you've created it?
#ideas #market #mvp #product or service #tips #ways
  • Profile picture of the author DotComBum
    Whether it a beta or a final product, you have to keep building it until it make money and not jumping from one to another, maybe you can try building a second income stream while waiting the 1st one to make money.
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  • Profile picture of the author Stuart Walker
    One way to do it is to put together a sales page advertising your product, put it up in a busy market place (like the WSO section for example or Amazon, Ebay), have a 'buy' button that doesn't actually lead to a payment processor but a landing page that says "this product is now sold out, sorry" and have that landing page tracked as a 'goal' (a sale) in Google Analytics.

    For every person that lands on that page you'll know someone wanted to buy it. Alternatively you can do the same as above but run paid traffic to your offer for fast results.

    If it 'sold' well then you go ahead and develop the product, the back end, the funnel etc and then launch for real.
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    • Profile picture of the author savidge4
      Originally Posted by Stuart Walker View Post

      have a 'buy' button that doesn't actually lead to a payment processor but a landing page that says "this product is now sold out, sorry" and have that landing page tracked as a 'goal' (a sale) in Google Analytics.

      For every person that lands on that page you'll know someone wanted to buy it. Alternatively you can do the same as above but run paid traffic to your offer for fast results.

      If it 'sold' well then you go ahead and develop the product, the back end, the funnel etc and then launch for real.
      That is straight up genius!! Nuff Said! WOW
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      Success is an ACT not an idea
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    • Profile picture of the author GregB123
      What Stuart Walker said above is good advice. I'll add a few further thoughts to his.

      First, if your product idea is truly new and unique, make sure your testing website look professional. This is to avoid having TWO hurdles for your potential customers. It's often hard enough to sell something unique, don't make it even harder by displaying it on a site that looks unprofessional or unsafe. People often have a hard time getting up the nerve to click a BUY button.

      Second, consider presenting (advertising) it in multiple ways. What you think is the best use or best presentation of your unique product may not be what your customers are thinking. I almost had one ecommerce business fail because what I called the main product was not the wording that most people used to name that product. Adwords makes this easy to do by having multiple campaigns leading to multiple landing pages.

      Good luck!
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  • Profile picture of the author Stuart Walker
    Glad you liked it.
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