Create your package offering or a package bundle for your product or service and turn them into a compelling and coherent set of services that clearly addresses the specific needs, preferences and challenges of your target market.
Outline how you will continue to repeat the process and keep improving your product or service offerings.
Outline how you will measure response or feedback to evaluate effectiveness and impact of your offering.
Outline how you are going to test your offering with a small group or your target audience to gather feedback and validate your assumptions.
Create a simple or minimal version of your product or service offering using a streamlined process and key features necessary to deliver value to your potential customers or users.
Identify what your customers needs are through conducting market research, customer interviews, observations and creating customer personas.
Evaluate the revenue and profitability potential of your niche to ensure that it aligns with your long-term goals and objectives as well as long term success. (Analyse information and insights i.e. market size, competition, industry trends, insights and customer purchasing behaviours).
Analyse competitors within your niche to help you understand their offerings, strengths and weaknesses. (This helps you differentiate your product or services and provide better value to your target customers).
Create detailed customer profiles of your niche market to help you understand their demographics, interests, behaviours and pain points. (Include profiles of the people in the niche you intend to serve i.e. their age, gender, education, nationality, ethnicity or religion).
