Addressing and Creating a Product Need
So you’ve got a great new technology that is the best thing since e-mail, and you need now is the financing to commercialize it. That’s great, but have you considered the most important question on the mind of all investors: “Will anyone buy it?”
To avoid these downfalls, ask yourself three questions:
- Is there a pain (i.e. need) that exists?
- If not, can you create the pain or make people aware of it?
- If yes, will the market see enough value in the product to buy it?
In this resource, we’ll look at each of these questions more closely.