What Product Can I Sell ?.

You’re thinking about start a new business? Do you have a new product or service that you want to sell? Are you sure the product or service is going to be a huge success if you can raise enough seed capital to get started, or get the time and resources to market it?

Whether you are starting a new business or expanding your current businessMake sure you focus your attention on the most important aspect that any product or service must have to be successful: it has to be something that that customer wants so much that they need it enough to buy it.

Remember that what your target market is going to buy is not necessarily what you want to sell. So if you are willing to invest money in acquiring it, producing it, packaging it and advertising it, you have to play it safe not to lose your money.

So the million dollar question is how do you get it right? And there is no crystal ball to predict which products will prosper and be a boom. But there are some practical ways to approach it and achieve a better chance of success.

These are nine characteristics of products and services that will help you achieve that wonderful product that will give you the desired results:

  1. It has to be something that people want or need.
  2. It must be of good quality and useful.
  3. It should be something that you can buy or produce cheaply and that can be sold for a minimum of 2 to 5 times its cost.
  4. It must have a potential market that you can reach.
  5. You must be able to describe in detail your client’s profile typical for that market. (For example, how old would you be, what gender are you, if they buy the product for their own consumption or for third parties, why do they want or need the product or service? What is their annual income? How often would they buy your product or service and where are they currently getting it?)
  6. It should be something that involves regular sales to the same customer or allows you to cross-sell additional products.
  7. You must have reliable logistics to deliver or distribute the product to your customers.
  8. You should be able to place more expensive products to the same satisfied customer after the first sale.
  9. It should be something that you like and that has a price that you think is really worth paying for that product or service.

Thus, the marketing a new product it cannot be taken lightly. It is not enough that you like the product or that it is your favorite. On the contrary, you must contemplate a whole strategy thought and planned properly to achieve the best results.

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