7 Key Questions to Ask Before Starting Your Product Development

If you are just starting to look at the enormous benefits of having an online business, you probably have lots of great ideas for products and services you might offer. Some might be passing ideas that you wrote down and then later crossed off your list. Others might be more exciting to you.

And there are probably a few ideas that are circled and have exclamation points after them! These are the ideas you are falling in love with…

But wait — don’t start developing that product yet. 

Do People Want to Buy What You Want to Sell?

The hard truth for many business beginners (and even many experienced business owners) is that the product idea they have thought about, dreamed about, and fallen in love with may not be a viable product to try and sell.

Before you spend days or weeks (or maybe even months) creating your product, there are some key questions you need to ask. The answers to these questions will help you decide whether to move forward… or not… with product development.

Seven Key Questions You Need to Ask Before Creating a Product to Sell Online

  1. Is there a market for this product?
  2. Are people searching for it on the internet?
  3. Can I find and contact the people who are looking for the product? How?
  4. Are people willing to pay for it? How much?
  5. Are other businesses selling similar products?
  6. Is anyone advertising similar products using AdWords or other paid advertising?
  7. Will your product stand out from the others? Can you identify benefits or features that will encourage prospects to choose your product? Is your product unique?

Did You Get Seven “Yes” Answers?

Were you able to answer ‘Yes’ to each of these questions? Great!

While favorable answers won’t guarantee sales or a successful business, your chances are better than if you have had to answer some of the questions with a ‘No’ response.

And what if you found that your answer to one or more of these questions was “No”?

Well, that’s when you have to look long and hard at whether you want to invest your time and money in developing that idea. It is very likely that that you will have much better success if you consider creating a different product — one that has more potential in the marketplace.

So take what you have learned and keep researching these questions for each of your product ideas. Then select the idea that holds the most promise and move forward with that one.

When you have selected a viable product idea, you’ll want more immediately implementable secrets that you can use to power your online business, so claim your copy of our Special Business-Building Report  at http://BuildaProfitableBusinessOnline.com and start using these simple systems that automate your business and maximize your profits.

Tell me what you think. Post your comments below...

  1. Gonzalo J. Suárez

    You are right… There are 7 key questions, not only for online business, but for all business, brick-anb-mortar too!

    Thanks for sharing.

    Gonzalo.

    Reply ·
  2. Mynders

    Gonzalo, Good point. All business owners should do this reality check before offering products for sale.

    Reply ·

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