How do I know if there’s a market for the service I plan to offer?
This is a brilliant question….and one that is not asked often enough!
Here are two ways to get the answer.
I’ll start with the second best – and easiest – way to answer.
Do some research (aka – search Google) and see if other people are doing what you propose to do.
They are? Super!
Uniqueness is over-rated
Some of my clients come to me feeling discouraged: “Oh no! Someone else is doing what I want to do!”
I say: “That’s awesome! I hope there are LOTS of people doing what you want to do!”
Why? Because if lots of people are doing it, there is evidence that there is a need for it. Especially if there are people doing what you want to do successfully.
Be careful: just because someone has a flashy website does NOT necessarily mean that their business is successful. It just means they have a nice website!
That’s why this is the second best way to answer the question.
The best way?
Test it yourself!
Put together a simple sales page. Outline the features and benefits of your service. Put a price tag on it. Find some real people who need – or better yet, WANT what you’re offering. Then go out there and see if someone will actually pay you.
Do this BEFORE you do any of the following:
- Agonize over the right business name
- Incorporate your company
- Invest in “branding” or logos or graphic design
- Buy business cards
- Set up a website (unless you can do it yourself quickly and cheaply as part of your test)
If you can find people who will pay you, you have something worth pursuing.
If you can’t, you’ve just saved yourself a lot of time, money and heartache. Time to find (and test) a new idea.