New idea: outsourced virtual office and sales management and technical support for start-up technology companies expanding to new countries who can't yet afford to open their own office. Should we do phone interviews with prospective customers or just email a survey?
Hi, this is Ann, a business coach for small entrepreneurs. I used to work in many top positions as Branding and Marketing manager, which required my great involvement in the 4P mix (Products, Pricing, Places and Promoting).
To answer your question, I would love to mention a very fundamental principle of idea and concept generation for business.
When developing a new business, the 3 factors should be taken into consideration are 3 Cs: the customers, the competitors and the company itself. Why?
The idea might sound very amazing, but not neccessary to the customers, will they buy it? People nowadays have less time!
The competition out there is dramatic! What are my competitors doing? What is my chance to stand out from the crowd? How will it make me the strongest brand in the market?
The company has some certain resources, what are our strengths, weaknesses, opportunities and threats? In combination with the analysis of competition mentioned above, what should we do to utilize the advantages?
However, those are just the tips of the iceberg. There are always thousands of underlying factors needed to generate best solutions. Only by investigating the 3Cs very well should an entrepreneur take the risk. In your case, it is still vague for me to fully evaluate the situation. Would you like to discuss more so that I can provide you some much better suggestions?
Answered 6 years ago