IdeaPros has made a new addition to its library of informative articles aimed at aspiring entrepreneurs. “Sell Your Product Before You Make It” was released to introduce the concept of presales and how it can be implemented in aid of product validation.
More information is available 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 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 the proposed product.
The third phase is the presale itself. According to IdeaPros, if enough traction is generated, it can be used to generate 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.
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.
Interested parties can learn more by visiting https://www.ideapros.com
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Daily Jaipur journalist was involved in the writing and production of this article.