TIP 020 : How to Create Passive Income - with Pat Flynn (Investing Podcast)
We Study Billionaires - The Investor’s Podcast Network
00:00
Validation through Customer Input and Market Observation
By involving potential customers in shaping a product based on their needs and pain points, businesses can create a more relevant and valuable solution. It is crucial to build a product that addresses a person's pain, rather than guessing. Seeking feedback from target customers helps in validating the product concept. Even if there are existing products similar to the idea, it does not indicate a disadvantage; instead, it provides an opportunity to offer a better solution. Businesses can observe the market from a different perspective and enhance existing ideas to serve the audience more effectively, avoiding the need to reinvent the wheel.
Transcript
Play full episode
