Interview three customers who are already part of the market
you have identified and ask them what they believe is next for a venture like
yours. Describe to them your business, and simply ask "What should we be
doing that we aren't planning to do?" Next, ask them about your ideas
of what customers might want next.
Based on your own expectations and the feedback you
received from customers, set a path for the future. In two to three paragraphs,
describe what makes the most sense for your venture in terms of growing in your
existing market.
I didn’t expect to get very substantive advice from people.
I didn’t think that they would be as helpful as they were. They gave me advice
that people would likely buy in bulk water from me, rather than one bottle at a
time. They are especially likely to buy in bulk if the prices are lowered. What
makes sense for the future would be also to distribute generators. I could help
people with not only water in the short run but also electricity.
Again, describe to each interviewee what your concept
is. Then, ask them how they think your business might be helping to meet
customers like them. What kinds of adaptations to the product/service mix do
they think you should make to be successful in this new market?
Reflect, in two to three paragraphs, on what you learned
about this new market. What surprised you the most? Were any of your
expectations/assumptions correct? Does this new market, on second thought,
appear to be as attractive as your existing market? And so on.
I didn’t think that people would be interested in ‘higher
quality’ water like smart water. People that have higher income are less likely
to want ‘lower quality’ water. Apparently even in circumstances of dire need people
are still wanting higher quality water.
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