Business By Design

Ep 189 : Does anyone actually want what you sell?

Episode 77

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Before you fix your product, your marketing, or your team, Stuart and Mena argue you have to pressure-test something more fundamental: demand. Get it wrong, and everything else simply compounds a weak foundation. The uncomfortable question most owners skip is deceptively simple: what problem are you solving, for whom, stated specifically rather than in flattering generalities? Plenty of clever products are just solutions looking for a problem.

The single best test is asking what it costs your customer to do nothing. When the cost of inaction is high, financially, emotionally, socially, motivation is real. Mena turns that instinct into a practical filter: urgency, frequency, and affordability, including whether a customer can actually fund the purchase at the moment the need hits.

Stuart then draws the crucial line between demand you capture and demand you must manufacture, why educating a market that doesn't know it has a problem is brutal, and the rare exception where a big player does the heavy lifting for you. Mena asks whether your market is quietly growing or dying, and how to read the early indicators.

The verdict? Compliments tell you nothing. Only a paid invoice tells the truth.

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IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.

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Investopoly

Stuart Wemyss & Campbell Wallace