Strategies For Getting Early Traction For Your Products and Services

Like the adage “which came first, the chicken or the egg”, many entrepreneurs find themselves at a crossroads when trying to launch their product. To do it properly requires financial or other resources they may not have but in order to get those resources, they’re asked to “prove” their concept. One of my specialties is supporting people through this stage so that they have the opportunity to prove out the validity of their concept & get early “traction” (interest from buyers) while being very prudent with resources.

What’s important to note here is that before you invest lots of time and money in creating a product or service and then trying to sell it, it’s more prudent to SELL the concept before you actually create the product. In the past, I’ve gotten 5 and 6-figure commitments before I even produced a product. Obviously, your risks are greatly reduced if there is a nominal investment required to produce and distribute your product--- that’s why I love working online and with digital products.

Why do this? You’ll save yourself time and money as you avoid risks and produce a product that’s exactly what your market wants; establish credibility; attract investors and sponsors who can now see the validity of what you’re creating before it’s fully launched; and finally, have a market already established when it comes time to actually sell tangible products and services.

My complete list is quite extensive but here are some ways to get proof of concept and early traction:

1. Conduct some basic market research. Make sure you have really spoken to your customers and end users (if the two are different) to see if this is something they would like have and would purchase if available. Thoroughly document this research.

2. Build a list. Start creating a list of followers who would be potential customers when the time is right. The bigger the better and I recommend managing your growing list with one of the Autoresponder tools listed at http://intentionalincome.com

3. Network Within Your Industry. It’s much easier to garner the support of your industry if you’ve already established a good reputation. That’s why it’s imperative to show up and network at industry tradeshows; events where your peers and potential customers would be; media outlets; and online via social media activities.

4. Create and test a prototype as soon as possible. Depending on the resources you have available, develop a working prototype or sample of your vision as soon as possible. Even it’s just a graphical mockup. Having something tangible for people to look at will dramatically improve their interest.

5. Sell your “concept” as soon as possible. Before you commit to manufacturing your product, look at establishing your distribution channels first. Knowing where your product will sell will make a difference in how you package it. Also, it would be ideal if you can pre-sell your product (within legal parameters of course). I’ve gotten contracts and letters of interest for products prior to manufacturing. You can do the same for information products, books, events, etc.

6. Can you start small and scale up? You my not have the resources to be fully operational but is there some aspect of your business you can launch with limited resources, test and then expand? This will not only provide further validation but can also help fund other stages of growth.

7. Partner up with someone that has the resources you need. Perhaps consider licensing, private labeling or co-branding with another company to help you initially launch a product. Manufacturing and marketing could be your biggest expenses initially so find people who will cover that for you.

8. Get the media talking. Having the media pick up on your “story”, the circumstances surrounding your journey, or any tie in to current events really helps to establish credibility and interest from buyers and partners.

9. Gather testimonials. Paint the picture about how great your product or service is through the eyes of someone who has experienced it (or you). This will help make your Company more real to potential customers.