This is a question most of the people who have a Business idea worry about. Before getting started with my first business I had this same issue popping in mind and dragging me back from taking action.
We worry about “how to find that first customer?” will people buy from us?
You will only know by market testing. This is the first secret of marketing.
Tell your family members, inform your friends, meet your previous lecturers or whoever trusts you/ listen to what you got to say.
If your idea came to your mind from a need you had, there is a very good chance that others may also have a need for the same. By telling your closest circle of people, who may even be your first few customers, you get to understand what might be your market demand.
I always like the idea of getting feedback and make my mind go deep of perfecting and giving the best possible I could for my clients and whoever I deal with. When I know from my initial market testing what the market wants, I have a better understanding on what I should do better.
Recently one of my friends who started a web solution business, asked me some examples of increasing the interest for the products he has to offer. I recommended him go sell to the people you know first, see if they want it, do all the split testing with them before investing a big chunk of money on advertising.
Seth Godin tells, “Find ten people who trust you/respect you/need you/listen to you… Those ten people need what you have to sell, or want it. And if they love it, you win. If they love it, they’ll each find you ten more people (or a hundred or a thousand or, perhaps, just three). Repeat.”
We see the point here, if they don’t love what you have to offer, you may have to rethink or improve your idea and make a new product. Start over.
Once you get rolling, your customer base will increase with time. In my web development business, I did free websites for my friends and colleagues. They were happy and most of them paid for the service when they saw how valuable the service they received. The best part was I get referrals all the time. And that’s the cheapest advertising for me and the most converting leads.
Your business will spread, grow with time and you will learn what best to do.. Things may take time but continuous hustle will pay back in style.
The market is very competitive but remember, you always have a share if you research and try to improve and offer something at the highest competitive price or differentiate it from others. Check Michael Porter’s generic strategies of cost leadership, differentiation, and focus strategies for more knowledge on wining the market.
Keep rolling and money will flow.