Starting a new business is not a simple task for potential entrepreneurs.
They need to be sure for many things.
They need to have product or service that will sell to their customers.
They need to be sure that potential customers will want to buy exactly their products and services.
They need to be sure that customers will want to pay the amount that will guarantee profitable operating of their future business.
The most important part in each startup is future customer and their behavior.
Because of that as an entrepreneur you will need to answer following questions before you decide to start your next business.
1. Do You Solve Painful Problems?
Your products and services as a first goal will have to solve customer’s problems. But, it’s not enough only to solve problems. They will need to solve really painful problems in a better way than they are solved today.
You will need solutions for which customers will strive to have it.
Make your products to be something really important for your future buyers.
2. Are the Problems That You Solve Urgent for Your Potential Customers?
Second question is about urgency of your potential customers to find the solution for their problems that your business will solve. Is your solution that they cannot live without it?
This question is important because as you start your new business, you will need to sell and generate cash if you want to ensure normally operating of your business.
3. Are the Problems Something That Will Ensures Readiness of Potential Customers to Pay for the Solution?
It is not enough to solve problems that your customers are striving to find solution, nor urgency if they are not willing to pay you for the solution.
If you want to build really successful business, you need to ensure that the target market will want to pay you what you will ask for your solution.
Think about these questions, and go out of your buildings to talk with your potential customers. They are the only persons that will give you the right answers.