this post was submitted on 19 Nov 2023
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Entrepreneur
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Market demand research doesn't cost money, it makes money because it reduces friction to market entry. Avoid Build It And They Will Come.
If friends and family are not in the target market, you have done no market research.
Friends and family had better be telling people, who tell more -- this fifteen should not be waiting around. Otherwise, your insurance policy will be revoked.
You really want to make absolutely sure you are not saying the word "brand" like you'd incant "abracadabra." There's a reason the Olympic uphill ice-skating team doesn't get sponsors.
Appreciate the insight! Market research has indeed been my compass. Friends and family have been a great sounding board, but I'm keen on widening that circle. With the 'Build It And They Will Come' approach off the table, I'm exploring organic ways to amplify word-of-mouth.
Any advice on kickstarting that organic growth without paid ads? How would you turn those first 15 sign-ups into a snowballing waitlist?