You have a great idea for a business. It’s something that you are passionate about and share with anyone who will listen. Your closest friends and family members encourage you to make the leap into making that passion a full-fledged business, promising their full support. So, you suck up any reservations and do it! 

And . . . the response is not what you thought it would be. Maybe there was initial fanfare, but it dies out. Maybe it’s crickets from the get go. Those family members and friends offer support, but they aren’t invested. And, why should they be? It isn’t their business.

Just because you love what you are selling doesn’t mean other people want it. More specifically, just because you love your product or service doesn't mean other people are willing to spend money to buy it.

If you build it, will they come? I don’t know. What proof do you have?

It’s always interesting to me how many people jump into a business assuming that people will buy what they are selling simply because they, the business owner, are passionate about their product or service. There is value in what they are offering, they can see it. That means everyone else will recognize its value as well, right?

Every product or service out there has one purpose - to solve a problem. If a person doesn’t have the problem your product or service solves, or if they do not know (or understand) how it can solve a problem they have, why would they buy it?

This is why analyzing the market for what you intend to offer is so important. Most people venturing into solo businesses or side hustles skip this necessary step . . . and this is why so many of them give up. No matter where you are in your process, it’s never too late to research your market.

4 Ways People Vet Ideas:

Trend hoppers: Some people hop trends to capitalize on the latest must have thing. Recently, Stanley cups launched a limited edition Valentine’s Day insulated tumbler that sold out in minutes creating a crater in supply. People desperate to buy one found themselves scouring online platforms like eBay where they paid double the price. A NYC t-shirt retailer capitalized on Mother Nature by selling “I survived the NYC earthquake of 2024” t-shirts the day after the city began to shake, rattle, and roll from a 4.0 magnitude earthquake. They sold out. In recent years there has been a facial trend called “slapping.” It’s just that - slapping the face to bring blood flow to the service and give a youthful appearance. I’m willing to bet people will figure out that there are less abusive ways to achieve the same results. In general, I don’t suggest trend hopping as a business model. Yes, there is a chance that it can make you money in the short-term; however, after you burn that trend you have to find the next one and hope it is lucrative, as well. 

Queries: You can send polls or questionnaires to your identified audience. This may be done online, via email campaign, or in person (think about the people who stop you at a weekend outdoor market to complete their short survey).

Focus Groups: Meet with potential customers/clients to present what you offer, hold a Q&A session. Allow the audience to ask questions, but also plan your own questions for areas where you are seeking specific feedback (e.g., cost of product or service,).

Offer Services or Products for Free: Offering services or products for free (without putting yourself in financial distress) is an excellent way to gain feedback. You can offer the service or product in exchange for a review or a completed anonymous questionnaire. 

You want specific honest feedback. You’re looking for a healthy bell curve. Some people will love your offering, some will hate your offering, and a chunk will reside in the middle. The larger your pool of potential customers/clients, the better the data. If you can combine queries, focus groups, and free offerings you can gather more data.

Reconnecting with Your Community

Vetting your idea isn’t only for people just starting. It’s always wise to reconnect with your target audience to make sure what you are offering is still relevant to them. 

This target audience isn’t just a group of customers or clients, these people are your community. I love that word, community. With unity. Treat them like a neighbor that you like to hang out with on the front porch for a chat in the evenings after work. Invite them to be partners in your business.

*In future newsletters we will explore how to build community and how to nourish and leverage that relationship.

Need Help Tapping Into Your Potential?

Are you struggling to meet your goals and wish you had support? Have you ever considered having a coach? You may not know what a coach does.

What Does a Coach Do?

Group Coaching:

• Sessions focus around a general topic, a process, and progress

• Each group member shares what they are working on, any challenges, and progress

• Group members may submit questions or as questions during group sessions

• Group feedback is provided to meet the needs of everyone

• Individual feedback may be given as it pertains to the group

• Group accessibility to me (group texts and emails)

• Each person learns how to track and monitor their personal growth

One-on-One Coaching:

• You and I develop an individualized plan targeting your specific goals

• You receive individualized support from me

• Answers to your specific questions

• Guidance on your specific issues and blocks

• Accessibility to me outside coaching sessions for added support (individual texts and emails to check in)

• Your plan leads to learning how your personal growth is in your control

If you need a coach, contact me. I can teach you how to get started and accelerate your growth by using repeatable methods. Need the tools? I’ve got them. The goal is always to make you independent. I should be working myself out of a job. Once you take off, you may want to have a session from time to time, especially if you are scaling your goals. A good coach teaches you how to stand on your own two feet. Are you ready to CONNECT?

Wishing you all Peace, Love, & Harmony!