Identify the problem before you try to solve it. There are endless businesses out there selling something that never had a market to begin with. This is why they fail. If you want to succeed, you need to create something of value. Find the problem and take the time to analyze why it exists. Then, start to build your business around the solution. Talk to prospects who may be interested, find out how likely they would truly be to purchase, and what they’d be willing to pay. This will not only minimize your investment risk, but also aid you in your marketing. Understanding the buyer helps you create a more valuable product.
Dr. Roshawnna Novellus is the Founder and CEO of EnrichHER, a financial technology platform with regulatory approval to help women secure funding to grow their ventures. Dr. Novellus is a gender equality advocate who believes in economic empowerment and inclusive economic growth. Roshawnna served on the Commission on Women for the City of Atlanta and was honored as one of the Women Who Means Business by the Atlanta Business Chronicle, one of the 40 Under 40 by Georgia Trend, and as a Halcyon Fellow for Social Impact.
Visit Dr. Novellus at: ienrichher.com