Just thinking you have a great product or service is not enough when it comes to setting up your own business, according to the experts at the Innovation Centre Sunshine Coast.
According to Innovation Centre entrepreneur-in-residence Nigel Hall ensuring you have a potential market might seem obvious but for many business founders failing to research this aspect of their business results in early failure.
Nigel will be one of five experienced and successful Sunshine Coast entrepreneurs presenting at the Innovation Centre’s one day intensive Start It Up! program for people wanting to launch their own business.
“Researching your product and potential customers is a vital step in business planning,” Nigel said.
Nigel said once business founders had identified and matched their personal goals with specific business
ones, it was important for them to ensure they would be fulfilling a market need.
“It’s all very well to have a great idea and think you know what people want but you need to do some
research to ensure what you think about your target demographic is right.
“Without a clear idea of who your potential clients are and their habits you could completely miss their needs.
“Having the support of family and friends is great but business people really need to get some good honest
and unbiased feedback and some hard facts about who their target demographic is,” he said.
“To do this you need to identify what benefits your potential clients receive from using your product or service
and use that to create an appealing pitch around the product and value proposition you can market. Most
people do no buy on technical features, they buy on utility. Its this message of utility you need to find within
your product description to attract clients.”
The one-day program will also include presentations by Sixty Second Parent CEO and founder of the internationally successful automated software development company Typefi Systems, Steve Huff, Innovation Centre CEO Colin Graham and founder and author of the ENACT suite of business programs, Trevor Holmes. There will also be an Open Forum with Steve Huff, Trevor Holmes and pioneer of the start-up Proscribe Medical Communications Dr Karen Woolley.
The intensive and practical one-day Start It Up! Program, on Friday 5 June, will cost $295+GST per participant. In addition to the one-day program, the cost includes a complimentary 1-hour Start It Up! Consultation with Innovation Centre entrepreneur-in-residence Nigel Hall (valued at $250), a complimentary initial consultation with either Hemming + Hart or Redchip Lawyers to assist you in setting up your business legals (valued at $200) and a 20-page Start It Up! Booklet – 10 Action Steps to Realising Your Entrepreneurial Ambitions (Valued at $49.00).
Numbers are limited so to book or for more information call 07 5450 2600 or visit www.innovation-centre.com.au.
