May 11 2008
So your friends and relatives think you have a good idea
Where do you go from here? Years back, it was a well known fact that Time, Inc. spent over a million before Money magazine ever earned a cent of profit. They must have done something right since it’s still being published.
Don’t assume that since your friends give you the nod, it’s ok to jump full scale ahead without further planning. I know that no one has the same budget as Time, Inc.
Here are a few ideas as to how you can go about testing the waters. Also, please keep in mind that, even though this sounds like a horrible a lot of work, the findings can be used to add credibility to your business plan at a later time.
You can hire teenagers to do a marketing survey for you either at their high school or a local mall. I know this probably requires a permit, but it is still cheap.
If you belong to a Chamber of Commerce, host a networking party where you have a group’s ear to sound off on your new project. Also, most Chambers have committees dealing with small business. They can always use a good speaker.
Find a client for your project or service that is high profile. Charge a real big discount for the purpose of being able to advertise your project’s success. It may sound unattainable, but it can be done. I have run in to two such businesses who did just that with a section of NASA.
Testing is the beginning. Without it, you may end up wondering in just a short time how in the world you are ever going to nail down customers/clients.
Laura Bell
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