Hey, business mavericks!
What if I told you building products before having an audience is like putting the cart before the horse?
Dive into why the new mantra is to engage, then create.
Why it matters
Building a successful business is no longer a guessing game.
Understanding your audience before creating a product is crucial. It minimizes the risk of wasting resources and helps tailor your offerings to genuine market needs.
Think of it as the difference between a wild swing in the dark and a bullseye.
By the numbers
- According to CB Insights (2023), 42% of startups fail because there's no market need for their product.
- Businesses conducting user research are 533% more likely to hit their business targets (Forrester, 2023). That's one heck of a competitive edge, right?
- Authenticity matters; 88% of consumers base their favorite brands on it (Stackla, 2023). Building an audience first lets you vibe with them from the get-go.
Overheard at the water cooler
"Did you hear about Steve from the Apple stand telling people they needed smartphones before smartphones were a thing? That Jobs guy definitely got the memo on audience-centric biz!"
Yes, but
Sure, it might seem counterintuitive to wait on creating products.
The impatient entrepreneur might fret, "But won't someone else beat me to the punch?"
Take a chill pill.
A well-researched, audience-approved idea beats rushing headlong into a flop ten times outta ten.
The bottom line
Crafting your business around your audience is like solving a puzzle.
Start with understanding their joys and woes, and you’ll create offerings worth their weight in gold.
So, get out there, engage, ask bold questions, and watch your business catch fire—ideally, metaphorically.
