The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Do I need to test a business idea when I add value skews to an existing product?

Accelerate wealth. Build a business that pays freedom. Join more than 70,000 entrepreneurs and register for the Fastlane Entrepreneur forum. Remove ads? Join the INSIDERS.

Taktik

Aut viam inveniam aut faciam.
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Oct 15, 2018
115
83
129
Hello,

I am currently building a functional food and supplement company. I am trying to do that via value skewing (like MJ mentioned in a video on his YouTube channel). So I am taking an existing product and I try to create as many positive value skews as possible to win the value competition and get sales.

The question that comes to my mind now is: do I even need to test this product then? Basically there are similar products already on the market (so there is a need) and I am actually just entering the market with a better product.

If you think that validating would still be a good idea, how would you go about it?

(I guess one way would be to build a landing page and use paid ads. I also once read something about a customer first strategy, where you create content and build a community first and only then go to market with products. That takes longer of course, but would probably work quite well because you can work directly with your target audience and give them what they want).

Thanks.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

PizzaOnTheRoof

Moving Forward
FASTLANE INSIDER
I've Read Rat-Race Escape!
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jul 30, 2018
1,218
2,608
671
Texas
Community, content, landing pages, PPC, blah blah blah...

Just build the product and try to sell it. literally.

Stand outside of a shop that sells your competition and give out samples. Get real world feedback.

Hopefully people will love your shit and ask where they can get it.

In MJs newest book, a character takes their food product to his work place for free, tells people its from a legit sounding restaurant and people love it. He fesses up, tells them his wife made it, and now the couple is selling them faster than they can make it.

Think outside the box.
 

Taktik

Aut viam inveniam aut faciam.
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Oct 15, 2018
115
83
129
Straight to the point. I like it.

I guess, the reason I was asking is, that I am hesitant, because I have to invest a couple thousand dollars, depending on with how many products I am going to start.
I was thinking of starting with three products, but maybe I just start with one and see how it works out. This way, I would need to invest less than 5k vs. more than 10k if I start with three products.

In addition, the products have a shelf life of two years. So that should be more than enough time to find a way to sell them. The risk is not very high then.
 
Last edited:

Ing

Silver Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jun 8, 2019
968
961
291
56
Bavaria
Supplements. Bodybuilders. Studios. Samples....
 

Taktik

Aut viam inveniam aut faciam.
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Oct 15, 2018
115
83
129
Supplements. Bodybuilders. Studios. Samples....
Thanks for the input, but this is the wrong audience.
The products are more for biohackers or health conscious people (depending on how I will market them) than bodybuilders.
 

bracknelson

Contributor
I've Read Rat-Race Escape!
Oct 28, 2020
66
29
45
Hello,

I am currently building a functional food and supplement company. I am trying to do that via value skewing (like MJ mentioned in a video on his YouTube channel). So I am taking an existing product and I try to create as many positive value skews as possible to win the value competition and get sales.

The question that comes to my mind now is: do I even need to test this product then? Basically there are similar products already on the market (so there is a need) and I am actually just entering the market with a better product.

If you think that validating would still be a good idea, how would you go about it?

(I guess one way would be to build a landing page and use paid ads. I also once read something about a customer first strategy, where you create content and build a community first and only then go to market with products. That takes longer of course, but would probably work quite well because you can work directly with your target audience and give them what they want).

Thanks.
You can get success in business by making Your Business Stand Out From The Competition
1) Create Your USP
2) Provide Extraordinary Customer Service
3) Unleash Your Creativity To Come Up With New Ideas
4) Understand Customer Pain Points And Address Them
5) Do Something That Your Competitors Aren’t Doing
6) Give Them A Free Trial


Source: How To Make Your Business Stand Out From The Competition
 

Sponsored Offers

Introducing MJ's Personal Unscripted Network, Join Now for FREE!
Text... (via @Black_Dragon43 ) A forum user recently said something poignant. "Don't ask a...
  • Sticky
MARKETPLACE NEW: The Best School for Going Fastlane (Now open for summer enrollment)
With 300+ students, the method and/or main sources of traffic don't saturate? Seems web design...
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2021
Hi - I sent out some emails with the updates but I'll PM you now also, thanks. The issue is...
MARKETPLACE Not sure how to start? This free book will teach you how to build a successful web design business
Hi Fox. Starting the book and got through the introduction. Had a conversation with Andy Black...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Chris is super sharp and is aware of many facets of entrepreneurship and can help get your...

Learn Fastlane Business Skills & Get Profitable Within 30 Days...

Get Started Now

Don't like ads? Remove them while supporting the forum. Subscribe.

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom