I hope this email finds you well. Today, I want to share something that could fundamentally change how you approach your business, especially if you’re a solopreneur or a small business owner.
The Overlooked Key to Success: In-depth Market Research 🥱
You’re passionate about your product or service. That’s great! But before you dive headfirst into selling, many overlook a crucial step – deep market research.
It’s not the most glamorous part of business, but it’s essential.
Why? Because understanding your market deeply is the first step in ensuring your offer meets a real need.
Why Most Skip This Step – And Why You Shouldn’t
Let’s face it: market research sounds tedious. It conjures images of poring over endless data, sitting at a computer doing endless and boring research, and trying to make sense of what makes people buy.
That’s why many entrepreneurs skip it. But here’s the twist:
Skipping this step can cost you much more in the long run – in terms of time, resources, and missed opportunities.
The Game-Changer: AI-Powered Market Research
The good news? You can avoid getting lost in data or months of client interviews and surveys. Advances in AI technology have revolutionised market research.
With the right AI tools and well-crafted prompts, you can efficiently do the 80/20 of your market research.
These tools can sift through vast amounts of data, identify trends, and provide directly relevant insights to your business. This is about gaining a nuanced understanding of what your customers truly need and want.
Don’t get me wrong, is not the same as spending three months interviewing hundreds of people in your market space, but it will get you 80% of the way there and a lot farther ahead than your competitors.
How This Approach Transforms Your Business
By taking the time for AI-assisted market research, you’re not just selling a product or service but providing a solution to a real problem.
This approach allows you to tailor your offerings to meet market demands accurately.
The result? Your offer becomes irresistibly attractive to your target audience because it is built on a solid foundation of real market needs.
And you will be way ahead of your competition because, having worked with thousands of solopreneurs, creatives and small business owners over the last 15 years, I know that the vast majority need way more in the way of market research and putting in solid marketing foundations.
Until next time,
Three ways I can help you…
Download the Roadmap To An Independent Income Cheatsheet – the 9 steps that I’ve used to create an independent income doing what I love.
Join the community for solopreneurs and small business owners creating an independent income and time freedom.
Browse what’s on offer to help you create an independent income and grow your business, and choose your best fit.