Identify several areas of development or business creation
Don't get too hung up on one idea, as it may not work. In any case, it's useful to consider alternative proposals.
However, you should have a clear understanding of what area you would most like to develop your business in or what brings you the most income. This will help you find a suitable niche that attracts you the most and can be especially profitable for you.
Analyze the market
Find out what products are most in demand in the market you intend to enter.
Let's say that when preparing to launch a business, you email lists uk are choosing between knitted socks, a flower shop, and an IT project to develop modern robot vacuum cleaners. Your target market includes the southern seaside cities of Russia.
Analyze the market
Source: shutterstock.com
In these areas, the population has no need for wool socks for most of the year. Flowers grow everywhere, so it is easier to pick them in the field than to buy them. On the contrary, dustiness of apartments is a constant problem for local residents. We stop at the production of robot vacuum cleaners and continue.
Study your audience
We obtain the necessary information from Google Analytics, Yandex Metrica and from open sources, such as publications on VC, Yandex analytics, reports on Rosstat. We are interested in the income level and preferences of the audience, where they most often turn to for your products, what they are not satisfied with the products presented on the market, etc.
Let's go back to the vacuum cleaner example. Our target customers live in dusty southern cities, have an average or fairly high income, and usually buy robot vacuum cleaners in online stores.
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Study your competitors
We contact competitors' websites and communities, learn about their product range, channels of interaction with the audience, whether they are directly involved in production or resale. We make trial purchases from them.
Specify the main characteristics of the product or service
These include:
a clearly chosen direction (as already mentioned above, this is the sale of vacuum cleaners);
assortment;
differences between your product and its analogues;
target audience portrait;
a course of action to encourage a customer to make a purchase (marketing strategy).
Before you begin describing the elements of Osterwalder's business model, you should have at least a rough idea of what you plan to do.
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Alexander Kuleshov
Alexander Kuleshov
General Director of Sales Generator LLC
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