How do you get market info?

[cnote99]

Hello all,

I am a 24 year old living in the United States with a fastlane mindset, and working toward making my life fastlane.

I have started a couple of businesses in the past and I find that I have one main weakness when it comes to building my businesses. There is a problem I have with making sure the idea is viable in the market.

The Need in CENTS I believe is always there. These ideas that I have created in the past have all been from pain points in my life.

But for some reason, I cannot seem to make the business grow past a certain number of sales and interest from customers. The Desert of Desertion is real, and I have had to fight through it before but I feel like this problem is more endemic of poor market research on my part.

I have an idea for a service product mixture that I think can impact millions, but it will be fairly costly to get off the ground. Just want to make sure that I am taking every precaution and gaining as much market research as possible before I go all in.

Do you engage first hand with your potential customers asking them their thoughts, and if so how do you gauge their level of real interest?

 

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[RightyTighty]

Recommend you read “The Mom Test” to learn how to ask the right questions and “The Right It” for better perspective on assessing your ideas.

 

[cnote99]

Recommend you read “The Mom Test” to learn how to ask the right questions and “The Right It” for better perspective on assessing your ideas.

Both look fantastic. I'll make sure to pick them up! Thank you

 

[kr8nt]

Hello all,

I am a 24 year old living in the United States with a fastlane mindset, and working toward making my life fastlane.

I have started a couple of businesses in the past and I find that I have one main weakness when it comes to building my businesses. There is a problem I have with making sure the idea is viable in the market.

The Need in CENTS I believe is always there. These ideas that I have created in the past have all been from pain points in my life.

But for some reason, I cannot seem to make the business grow past a certain number of sales and interest from customers. The Desert of Desertion is real, and I have had to fight through it before but I feel like this problem is more endemic of poor market research on my part.

I have an idea for a service product mixture that I think can impact millions, but it will be fairly costly to get off the ground. Just want to make sure that I am taking every precaution and gaining as much market research as possible before I go all in.

Do you engage first hand with your potential customers asking them their thoughts, and if so how do you gauge their level of real interest?

What if the problem was not in the solutions that you had created, but rather in who you were trying to serve them to?

Try to analyze any of your failed businesses and remember who were the people you were trying to reach when doing the marketing for those businesses? Are you sure that you had everything setup right with your ads, and most importantly whether those people were actually the right people that have this problem and that they would actually be interested in a solution?

There can be many other reasons why you were getting stuck at a certain number of sales and most probably the problem was not in the idea being bad, but rather in you not having enough knowledge and experience to know what to do in order to grow your businesses.

Try reading "DotCom Secrets" from Russell Brunson.

 

[cnote99]

Recommend you read “The Mom Test” to learn how to ask the right questions and “The Right It” for better perspective on assessing your ideas.

Just finished "The Right It", was a phenomenal book and very insightful. Thank you so much!