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It's day 1 of your business. Which one should you do first: 1) Build a product/service? Or 2) Get your first customer? (Comment your answer below) Personally, I think you should start by getting your first customer. When I started my first business in university, I cleaned and repaired people's barbecues. But believe it or not, I had never touched a barbecue before. And I knew nothing about them. I even struggled to clean my own dishes in my student house. So I went out and knocked on doors in my neighbourhood until I found a guy who was willing to pay me to clean his barbecue. But although my process was horrible, And although the job took me way too long, I figured it out and eventually completed my first service. Once I learned there was demand, we built up our service, scaled across Canada, and landed a deal on Dragons' Den. But it all started with that 1 barbecue. The lesson? Before you build a product/service, find a few customers to make sure there's demand for your idea! -- Please like, comment & share if you got value from this post :) For more entrepreneurship stories like this, follow me!
That is a tricky one because it could also go horribly wrong. I think the problem is wanting to have a perfect product before going to market. I don't think it is often perfect. Rather get something in place, then get out there and get testing so you can improve.
Well, Matt McCoy, I don't disagree. Today, creators have already created future buyers before even launching anything. They have a loyal fan base who trusts them, just like I do for Alex Hormozi I've read all his books and am eagerly awaiting the next one.
Without demand for your service. It would become irrelevant. Understand what the market is lacking. And provide a solution.
Justin Welsh was talking about that the other day, Matt... To create a landing page to see if there's demand before spending time and money building an offering. I think it may be smart and curious to experiment.
Start with proof of concept by talking with prospective clients, as opposed to building something without having done the right research. When prospective clients have demonstrated the validity of your idea, then move forward, Matt McCoy.
Starting with the problem is gold.
Find customers... And then find out how you can help them. Those are the only products that matter.
Start with the customer. Everything else should flow from there.
I would say 3 Build your brand to build trust in your experience and get the customer. Great question Matt McCoy 🎙️
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3moWe did exactly the same thing with a recent business. And even though I'll be leaving it now, it's been running successfully for 2 years.