If the market is saturated, the next challenge will be to put your business at the top of the sector list. Marcus recommends not entering a saturated market unless you have enough time, resources, energy, people, process and attention to detail. All this to turn your business into the best of its kind.
Imagine now that your market is not saturated yet; you should probably ask yourself. What is the reason why there is no one there? I cannot be the only one who has this idea.
Ensuring the success of a product must occur following three essential concepts:
- Your product must have something unique.
- Your product must be relevant to the market.
- The person behind the product must know in detail the behavior of the sector where the product is located.
How Successful Businesses Work
All our life we have been surrounded by businesses (shops, factories, shops) and we take for granted that we know well how they work. Look around you; some company gave each of the articles that you have near you in an agile and easy way. What if we see a review through models of how business works.
Principle the reason for any business is people – people look for solutions that make their lives easier, that help them to spend fewer resources (time-money), and that satisfies their basic needs. Of this last, we will speak in another post.
Businesses create things of value for which we are willing to exchange for money. At that moment before the purchase, you are convinced that that good or service is more valuable than your money.
If you ever thought that the business world was complicated, today you will find out that this is not the case. It’s simpler than you think the answer to your question of how business works will turn out to be today.
Investigate and analyze data is the correct way that businesses have to discover the needs of people, is the first thing you should do. When you do not do the homework as you should, there are cases like the Segway, a means of transport of two wheels for one person, whose failure in sales was enormous. A very ingenious device but at the same time too expensive to become massive.