You see a market need that you believe you can address, and you want to pursue this business opportunity. Whether you are an existing business thinking of entering a new market, or an entirely new one, the risk is the same. Will you make money on this venture, or will you lose your investments?
There are two possible outcomes:
• You can start closing deals fairly quickly, and close enough of them, so that you realize positive cash flow before you run out of cash.
• Or, you can find it difficult to get interest in the market, and even harder to close deals, forcing you to exit once you burn through your cash.
Our experience has shown that the difference between these two scenarios is the thoroughness with which companies validate their underlying assumptions before they commit to the wrong go-to-market strategy.
It is critical to know the answers to question such as: How compelling is that need you have identified? How accessible are the decision makers? Can your prospects afford what you are thinking of charging? What are the competing alternatives available to this market and how strong are these?
The last thing you probably want do is to find the answers to the above the hard and expensive way.
The much more cost-effective way to validate the viability of your business opportunity is to conduct a highly targeted Market Tester that answers the above questions in a matter of weeks, saving you time, money, and a lot of headache.
Some key deliverables of this service include (but are not limited to) the following:
• Market consultation to help you systematically work through your market analysis process—identifying the right market segment, the strength of the need you have identified, the level and strength of competitive alternatives, your market readiness to address this potential market, pricing, and messaging
• An online survey to collect data
• Follow-up phone calls to respondents to gather more data and insight
• An Executive Report that analyzes the data, and provides sound recommendations and professional market advice
• An oral presentation of the findings followed by a strategy brainstorming session to help you in preparing your primary and backup go-to-market strategy