“Anything that won’t sell, I don’t
want to invent.” – Thomas Edison.
During Incubation you build attributes required – capability,
competence, and character – to be successful of entrepreneurship. Your
capability to meet buyer needs, even amaze your customers is best developed by
knowing exactly what appeals to their palates and their pockets.
A business idea fails which does not overlap with customers’ desires
and ability to pay for the product. You need to continuously pitch yourbusinessideato
potential buyers, getting constant feedback,enhancements
to make your product or service better, untilyou can safely say you know what your buyers value the most, and, by continuous
research, youknowwhat works currently and what trends the
It is imperative therefore that you ask probing questions of potential
customers, consistently, every opportunity you get, always seeking a fit: what,
how, why, when get potential buyers talking. How else would they make money by
satisfying buyer needs? As one preparing to produce fabric, these are some of
the questions I ask potential wholesale and retail buyers:
What is your preferred
What do you consider a
no-no in fabric? Why?
What attributes do you
like the most about this fabric? What do you dislike?
What kind of fabric can
you never have enough of?
What would make you
change your fabric supplier?
How often do you buy new
How do you feel about
choosing fabric design and colour pre-production?
How much does fabric
durability affect your purchase decision?
How much does ease of
accessorizing affect your fabric purchase decision?
When you buy new fabric,
do you usually buy matching bag/ shoe?
When do you buy ready-made
When do you buy fabric
for a dress-maker?
Customer feedback is critical to discovering potential uses for your
products, additional markets, even customer segments you previously were
unaware of. Recognize that not all of feedback is equally valuable. Prioritize
feedback by making informed assumptions about your likely customers and
determine which suggestions you will use to improve your product or service.
The question frequently asked by Jesus: What would you have me do