﻿Day 2

Subject: Why [firstname]?

Hi [firstname],

In today's installment we're going to cover finding the “Why” in your new business.  I must warn you, this process can be painful.  You need to strip away any sentiment and look at your idea in the hard light of day.  You will need to examine parts of your character that you may not want to.  But when you do so, you will be able to assess the viability (or not) of your idea objectively.

The first why is obvious: Why do you want to launch this business?  To make money, sure, that's the primary motivator behind most businesses, but money alone will not be enough to sustain you mentally when things get tough.  What other inner need will your business fulfill?  Is your family going to be supportive?  At the end of the day, what sense of satisfaction will you feel? 

The next question to ask yourself is: Is there a demand for your product/service?  You may think that your invention is the greatest thing since sliced bread, but if you're the only person who can see a use for it, you'll likely not sell any.  The shelves at the Patent Office are stuffed full of great inventions that their creators could not sell because there was no demand.  Doing proper due diligence here will save you a ton of trouble later.

Let's say there is a demand. What can you offer the market that others can't?  Don't try to reinvent the wheel.

How fierce is the competition?  If there's no competition it could mean there's no demand, so tread carefully.  If the market is full of big players with multi-million dollar advertising budgets you may have to find a market niche or segment to sell to rather than the market as a whole.

Finally: What is your USP?  In other words, why should people buy from you and not somebody else?  This is probably the hardest question to answer, so take your time.

Warmly,

[Your Name]

PS. I go into more detail in my guide to launching an idea as a business.  Find out more here [link to sales page].


