Contributed by Jacob Aldridge – www.jacobaldridge.com
My number one tip for them is: When researching a new idea or product line, it is essential to speak to your market, but be gravely concerned by ideas that receive only positive feedback.
Most people expect only two types of responses when proposing a new idea – positive or negative. Even though nobody wants to be told their baby is ugly, they usually welcome constructive criticism. But when everyone says ‘This is great’ the feedback makes them overconfident about their creation.
Saying ‘This is Great’ to new product ideas is like saying ‘Maybe’ to a Facebook party invitation. It’s a polite way of saying no. The only market research small business owners should enact is the third type, where the person you are speaking with says ‘When can I buy this?’ When your target market wants to buy, then you have a great idea. When your target market is politely positive, it’s a sign you need to keep innovating and keep researching..