Without revenue, your business will fail. Revenue is dependent on people actually wanting what you have to offer.
Every business is limited by the size and quality of the market it attempts to serve – this is The Iron Law of the Market. If there aren’t enough people who want what you provide, your chances of building a viable business are slim.
Knowing this, figure out what people want and need before investing your time and money into creating something new. Market research will save you from creating something nobody wants. Then focus on making things people want to buy.
To learn more about The Iron Law of the Market, check out The Personal MBA by Josh Kaufman.
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