Every business needs a problem to solve, distribution, and a working product that makes it easier for customers to solve the problem.
This sounds trivial and simple in theory. But it’s harder than it sounds.
People often build products because they THINK people will want it. When the reality is, if that product does not solve a real pain, a pain so painful people are willing to whip out their card information, then it’s not worth building.
Identifying a real pain will help guide the creation of a product that will have customers reaching for their wallets.
Pain is not enough. Without the right distribution strategy, even a good product will fail. You could have the best product in the world, but without getting it in front of the right people, it's not going to sell. So on top of having a pain point that’s worth solving, you need to have an audience base that is easily reachable.
And you need enough of those customers, who have the same pain, to purchase your product so it makes sense economically. Short and long term.
Without distribution, you won’t be able to sell your product even if you know there’s a real pain. If there are not enough customers who know about your product, it won’t generate sales.
But distribution is not just about getting your product in front of people, it’s about positioning your product in the right place, at the right time, to the right people.
Once you have your pain point and distribution strategy, you need a working product. A product that solves the pain and delights the customer. Without a working product, it doesn't matter if you have a pain point or distribution strategy.
Without these three things, your business will struggle to succeed. It's not enough to have just one or two of them; they all work together to create the recipe for scalable success.