To develop a project, you need to come up with a business idea (concept), and then calculate it. The latter means not only profitability, but also reality: how viable is the developed concept, whether it will resonate with the target audience, what motives will the clients (customers, buyers) have.
It is necessary
- - a computer
- - telephone
- - results of marketing research
Instructions
Step 1
Describe your business idea on paper. This will be the concept leading up to the development of the project. On a few sheets, briefly answer the questions: what kind of product; what assets are needed for its production; who needs the product; how much is needed; how to inform the audience that you have it; how to motivate the target group to buy; how to organize sales or delivery to the final consumer. These questions will be slightly modified when it comes to, for example, a service. But still, a service is a product. And the main points of the concept will be the same.
Step 2
Analyze how the described concept corresponds to how you envisioned the future project before describing it. All of us in our thoughts tend to simplify the future business a little. Whereas a project described on paper requires more detail.
Step 3
Discuss the business idea with colleagues. Even if the development of a project is a matter of one person, it will be nice to voice your thoughts and arguments to people you trust because of their competence. It is a good idea to run a series of focus groups at this stage to discuss the merits and demerits of the product.
Step 4
Gather focus groups. First, decide how many there will be. 3-4 focus groups seem optimal if the project is designed for a narrow segment of buyers and up to 10 if it is a product of mass demand. Decide on what criteria and how you will select participants. Invite them. Develop a project presentation or make prototypes. Formulate the questions you want to get answers to. Decide who will be the moderator - the leader of the focus groups, who will be the observer. The observer is needed in order to record the non-verbal reactions of the participants. As a last resort, the observer can be replaced by a video camera, but, as a rule, people in front of the camera behave more restrainedly.
Step 5
Support your focus group findings with market research data. For example, you will need data on the state of the production market (who produces a similar product, at what cost it sells, its main consumer characteristics). Also consider having knowledge of the buying market. Drawing up a portrait of a potential target group will help with the orientation of the future project to consumers. The seller's market (when consumers were forced to buy what is) has already ended. Now the buyer's market, and he dictates his own rules, which must be taken into account when developing a project.
