- Find a market need.
- Find customers.
- Create the product.
Most people start at No 3. They build the product, look for customers, and try to meet their needs.
That’s why 90% of new businesses fail.
People before products.
The order of an entrepreneur’s questions should be:
- What do people need/want? Market research.
- Who are these people? Target market identification.
- What product can I supply to meet the needs of these future customers Product.
Don’t flip it, it’s people before products.
Inspired by Dr. Tayọ Oyedeji