Your friend is starting a company and wants to identify the job their product will do for people. What advice would you give them?
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you work hard and you work honesty
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The advice I will give to my friend regarding the product selection:
- I will advice my friend to do a business plan for the company.
- I would suggest him to do a research analysis about the nature of his products, from where he will acquire his raw material and source of finance.
- So it is advisable to prepare a business plan so that he will know about the target markets, market competition, marketing tools and risk management.
- Understanding the customers expectation and preferences is also important.
To know more:
Identify a target market(consumer or business) whose needs are not currently being met satisfactorily or even recognized. also think about competitive offerings and how their offering will be communicated and delivered. Emphasis could be on the solution being actionable and realistic
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