Many entrepreneurs who have recently undergone business formation find they still need to tweak their business model as they come to understand why clients do business with their company. Business owners might benefit from some tips on how to effectively bring their products to market that marketer Sean Ellis recently shared with Venture Hacks.
According to Ellis, the before-market fit preparation is one of the most important steps for startup businesses. Entrepreneurs who incorporate a business probably have an idea of something there is a need for. Still, companies should take time to produce “a product that people actually need” where there’s a big enough market to support growth.
Ellis says companies should ask for user reviews of their products early on. He says a new business can direct the future of their brand if they are alert to what people claim they most value in a company’s offerings.
Finding the right products is extremely important before trying to expand, says Ellis. Entrepreneurs can operate a startup for a low cost, and it’s easier to restart and restructure a newly incorporated business than one with a significant amount of money behind it.
Being flexible in the early stages of a business is important to the future success of a company. According to GigaOm, entrepreneurs who are inflexible because they think their initial business model is a recipe for success are often met with failure.