To figure out how much demand is there for what you’re selling, ask:
- How have you seen demand for X demonstrated?
- How many people are paying for something similar?
- If they’re not currently paying, is there a strong enough pull for them to pay?
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To determine how much demand you can capture, ask:
- what unfair advantage do you have in this category?
- what unfair advantage do you have when it comes to distribution?
- what will cause people to switch to your product?
- what product gaps do you see?Pokaż ten wątek -
Keep in mind, you can’t just capture demand; you also have to satisfy it.
You’ll need strong product instincts and skills for:
- building features people want to use
- developing an overall experience that keeps people coming back
- helping customers make consistent progressPokaż ten wątek -
Evaluate how much it costs you to:
1. Capture customer demand
2. Create experiences that keep customers happy
Keep costs as low as possible.
You want healthy margins for your time, energy, and profit.https://justinjackson.ca/costs Pokaż ten wątek -
In business, customer acquisition & retention needs to be repeatable at a scale that supports your desired outcome.
“Software is all about volume.” – @ianlandsman You’ll need a steady flow of new customers + existing customers who show up consistently.Pokaż ten wątek
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how successfully you can keep from second guessing yourself ⠀
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how interested you can stay in the business ⠀
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how much competition crops up and how hard they are to beat -
Yes! Those too!
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I think that’s a good function and probably fits some criteria of success, but after listening to your conversation with
@jasonfried I think we’re missing the crucial step of defining what business success is. -
For some it may be providing a substantial return on an investment. For others the business could be deemed a viable success if it’s run on the side and generates some money for a nice dinner every month. In which case I don’t think you need to fit that criteria for success.
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