Do you want to validate your business idea for cheap? Then learn about the presale process with IdeaPros’ fresh addition to its library of resources.
An oft-repeated advice in business is that you need money in order to make money. But still, spending money needlessly is just as bad, especially in the product development stage.
There is a way to know if your product idea has a future. It’s called presales, and it’s a process that you wouldn’t want to skip, especially if you’re already strapped for capital.
Thankfully, IdeaPros has made a new addition to its library of informative articles aimed at aspiring entrepreneurs like you. “Sell Your Product Before You Make It” was released to introduce you to the concept of presales and how it can be implemented in aid of product validation.
Check it out at https://www.ideapros.com/blog/sell-your-product-before-you-make-it-how-to-leverage-pre-sales-and-investors
According to the startup education provider, the presale process begins with awareness, adding that this phase can be completed relatively inexpensively using a website and a small reward in exchange for contact details. “Awareness is the fundamental building block in launching your idea and the good news: you can do a considerable part of it yourself,” the company said in the article.
IdeaPros pointed to Rooftop Liferafts’ approach as an example of a successful awareness campaign. It said that this company’s founders created content about the dangers of floods and how its product idea can be used to save lives. The overwhelmingly positive response they received validated their concept even without having an actual product.
After building a sizeable following, the next step is to determine the “intent to purchase”. IdeaPros clarified that the goal of this stage is not to turn a profit, but to determine the percentage of people (out of the total who responded to the awareness campaign) ready to spend money on your proposed product.
The third and last phase is the presale itself. According to IdeaPros, if enough traction is generated, you can create a forecast model, which can then be presented to potential investors. “It starts the tipping point as you begin figuring out the rest,” the company added.
Your Unfair Advantage
IdeaPros was established by a group of entrepreneurs turned mentors, who saw a gap in the market for an accessible means to get quality entrepreneurship education. The resulting solution offers courses and free resources on topics relevant to the various stages of a business’ lifecycle.
The company is also known for its unique partnership program, which has led to the creation of startups like Rooftop Liferafts. To date, more than 350 companies have been launched through this program.
Whether you need a partner for your venture or want to learn useful business strategies, you can rely on the pros of IdeaPros!
For everything startup and entrepreneurship, visit https://www.ideapros.com
