12 Point Success Checklist for a New Product or Service

Criteria for a new product or service to be successful...

1. Be clear on who the customer is
2. Be clear on the need the customer has
3. Be clear on the solution to the customer need/pain that you provide.
4. Be clear that there is a viable market for your solution (enough folks, within an industry or niche, have the specific pain your product/service can solve).
5. Be clear that even if there is demand for your product/service that there is a willingness (the customer recognizes value in solving their pain) and an ability to pay for your solution.
6. Be clear on how your product/service is used to fulfill/overcome/solve the customer's need/problem
7. Be clear about the true benefits the customer gains from your product/service
8. Be able to guarantee the customer's problem will be solved as a result of working with you/your business, or at least guarantee improvement to the customer's pain as a result of working with you.
9. Decide on a price point that benefits your ability to maintain a profitable business and is reasonable in relation to the value your product/service provides your customers (considering your industry the pain you solve and your target customers' willingness and ability to pay to solve their pain).
10. Provide clear value above and beyond the price the customer will spend on your product/service (be sure the customer's perceived value for your product/service far exceeds the actual cost to purchase it).
11. Have the solution concept be simple to understand
12. Make it easy for your customer to have success using your product/service

Do you agree with these?

This may only be a starting point for you.

What's missing from the list?

Posted by Nick Venturella