TES 024 - Steps to Knowing What Your Customers Will Buy From You

In this episode #1 Bestselling Author and Highly Acclaimed business & Entrepreneur Expert, Mel Abraham gives you a framework to make sure you know exactly what your customers want so they buy from you.

This process is about taking and testing our products.

For a product or service to be a commercial success, the market should believe in and buy the product. An entrepreneur might think that it is life changing and unique but the market might not have the same thoughts. Hence, before investing and going all in, we must give some serious effort to test our idea and listen to the market. Then depending upon the collected information, we go back and redesign things.

Six Steps to Testing the Market

1.     Create a Sample: Put your idea out there in a small way to get feedback from the market. The information should be used to make better choices and decisions.

2.     Show it: Once the sample is ready, show it to some of the customers. Let them experience it so that they will give you valuable feedback.

3.     What's the Pricing: Learn how much customers are willing to pay for it. Don't just work from a place of cost. Know how much the market values it and make necessary adjustments to the pricing strategy.

4.     Ask Questions: Ask the market everything about what they like, don't like and even what they are thinking. Ask questions about expanding and follow-up products.

5.     Look