12 Months to $1 Million

Cater to the right audience

Instructions

Identify your target customer.
Start by defining who your target customer is. This involves understanding their demographics, needs, interests, and challenges. Consider who would most benefit from your product or service. For example, if you are creating a fitness app, your target customers might be fitness enthusiasts or people looking to start a healthier lifestyle.
List products they already buy.
Explore and document what your target customer already purchases. This will give you insights into their preferences and buying behavior. Write down at least three to five products that your target group already purchases. For example, if your target customers are yoga practitioners, they likely buy yoga mats, towels, and blocks. This can help you position your product effectively.
Develop a gateway product.
Choose a product that will serve as the entry point for customers into your brand. This product should solve a key problem and encourage further purchases. Consider what would make the target customer want to buy more from you in the future. For example, if you’re starting a skincare line, your gateway product could be a unique facial cleanser that addresses a common skin concern like dryness or acne.
Analyze customer feedback on similar products.
Look at reviews and feedback for similar products on the market. This will help you identify gaps in the current offerings and areas for improvement. Use this information to refine your product to better meet the needs of your target customers. For example, if customers complain about the greasiness of a popular hand cream, you might develop a non-greasy formula.
Determine where your target customers spend their time.
Identify the platforms, physical locations, and communities where your target customers are most active. This could be social media platforms, specific stores, or online forums. Knowing where to find your customers is crucial for effective marketing and engagement. For example, if your target market is young professionals, you might focus on LinkedIn or career-oriented podcasts.
Plan for scalable and predictable sales.
Decide on a sales platform that allows for scalability. For most startups, online platforms like Amazon provide a ready market with vast potential for customer reach. Ensure your sales process is efficient and can handle growth without compromising customer experience.
Outline your product line expansion.
Plan your future product offerings based on the initial feedback and sales of your gateway product. Think about complementary products that align with customer needs and enhance their experience with your brand. For example, if your initial product is a yoga mat, consider introducing yoga blocks, towels, or carrying bags as your next products.