A product that sells

By Drum Digital
08 December 2013

Think before you invest in a product.

If you’re starting a business, or considering launching a new product or service, you should always assess whether your offering solves a pain or provides a pleasure. Because in general, you will be more successful when you solve a pain. Here’s how.

People tend to act more quickly, and will haggle less on price, when you solve a pain. For example, a headache is a physical pain that people feel. When you have a headache, you’ll quickly buy an aspirin or other pain reliever. And, if the first store you go to has high prices, you’ll probably buy it there anyway. You wouldn’t buy a swimming pool (which provides pleasure) as easily as that.

Do all great companies solve a pain? No. But successfully launching a company or product that does solve a pain has a much higher likelihood of success. For example, if you live in a densely populated town without a hair salon, and people thus have to travel far to get their hair done, your chances of success launching a hair salon are high. Because you’ve eliminated the pain of travel.

- Dave Lavinsky, Forbes

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