How to test your business idea without spending a buck

May be you have a wonderful business idea. It is nothing unusual that you wish your venture a ‘next big thing’ around.  You are not sure whether to start investing money or to observe the market for a few days.

But, you must get out of the confusions. You should test your product or services in the market first to evaluate if it is worth investing. You can test almost any idea free. You can always play safe. Will it make your business success? Will it make your industry really stay on among the competitors? These are not all sure. The future is unpredictable, so is your business.

Let’s know a few inexpensive things that you should know before you start a business. All these tests about your business will make your business sustainable, workable and growing.

Identify your market:

Every business needs marketing. Your products and services need market and marketing. So you identify market where you are going to sell them. If you are new in business or you are going to sell your products in new market, never be haste to take a plunge in selling. Move from market to market, feel the demand of your products among the people around. You can visit the trade show and feel the people’s mood and temperament to accept your products. If the response is quite good, then move to the next level.

Identify your customers 

You can make a list of customers on the basis of your locality or outside of it and tick against the perfect customers. Make the list specifying their sex, age, professions, family members, marital status, their main motivation for the purchase. All this data will help you to structure how your sales process should process. It will tailor the product and services that you want to sell out.

Evaluate demand of the products and services

The big companies spend a lot on hiring a group and campaigning the products to have an idea of the demand of the products and services. But you can do the similar search yourself by starting small one and then testing and measuring as needed. It will surely give some ideas about your products.

Start your list of contacts

At the startup phase, list the name of vendors, suppliers and the potential customers. Continue building the list and set up a strategic way to communicate them consistently. Today's contacts might be converted into tomorrow's customers. What’s important is that all of your contacts will be in touch every other person in your contact list.

For most of the businesses, every contact of your database is a valuable asset. Find a proven market to let your sale grow. Wins the customers and make them grow and let them coming back.