Ground Control, We Have A Startup!
On Tuesday we covered the first half of my Startup Shortlist, showing you how to enhance your product and ultimately your business.
Fundamentals are important — you don’t want to make the wrong moves, especially when you have a potential million-dollar idea on your hands. So make sure to ask yourself these important questions before you launch.
If not, you could sink tens of thousands, if not millions, of dollars into a venture that goes belly-up. You could invest a good chunk of your life into building a business around a product that goes nowhere.
The sizzle won’t last if it doesn’t stand up to this list, so ask yourself all 10 questions before going public with your product or service.
Here are the final five…
Startup Shortlist Part 2
- Is there a magical transformation or demonstration?
Before-and-after images or statistics — showing easily noticeable differences — are powerful marketing tools. Be sure you can show your customer just what outcome they can expect after using your product.
If they can’t envision the success it provides in their own lives, they aren’t going to be interested.
- Is it multifunctional?
Think like your competitor. If you come out with a product that has just one function, your competitor can steal your thunder — and your sales — with a similar product that offers more functions. Beat them to it and include the added function at the outset.
- Are there credible testimonials?
An actual customer promo is 10 times better than an actor portrayal. Real people offer real results. Get actual testimonials from people who’ve benefited from using your product.
But you should also seek out professional testimonials from industry associations, doctors and other experts in your industry to further build your product’s credibility.
- Are there independently proven results?
Be prepared to back up your claims with unshakeable success stories or scientific studies, including third-party clinical studies or reviews from product-testing labs that support your claims.
Customers won’t just take your word for it and they’ll easily be able to find out the truth.
- Can you answer the questions the buyer is thinking?
You must be prepared for any and all questions that could arise over your product. Put yourself in your consumers’ shoes and think of all the skeptical questions they could ask.
If you were going to spend your own money on the product, what reservations would you have? What would stop you from purchasing?
Find the answers to these objections and provide a solution if you want to become invaluable to your customer.
Yes, You Can!
If you answered yes to all 10 of these questions, you’ve got yourself a solid product!
There’s a good chance it won’t land on the trash heap like the nine out of 10 that fail to catch on with consumers. When a product and a business are done the right way, you’ll unlock a windfall of opportunity and warranted success — you’ll become an asset.
Hi, Kevin, just wanted to extend a note of thanks for your insight and the value of the information that you send out with each publication. Look forward to the journey. Thanks again.
– John B.
Thank you for your feedback, John! I’ve said it before and I’ll say it again: The amount of support my team and I have received for this e-letter has been nothing short of amazing.
And as you feast and huddle around with friends and family, I’d like to extend my thanks to you. So on behalf of all of us here at Startup Profits Daily and Startup Millionaires, have a very safe and happy Thanksgiving.
And after three weeks, you know the drill! There’s always more to the story so please reach out by emailing me at AskKevin@SevenFigurePublishing.com and stay tuned…
I’ll talk to you next week!
Sent from a shark,