How can you ensure your product will sell? Design it to address customer pain points.
UC Berkeley professor and entrepreneurship expert Jon Burgstone and journalist Bill Murphy, Jr., authors of the new book Breakthrough Entrepreneurship, remind startup founders that “people typically spend money on two things: first, they readily spend money to combat pain. Second, they spend money to pursue pleasure.” With that in mind, the authors recommend designing your product to solve customer pain points.
“The more compelling the solution, the more quickly the customer will pay,” Burgstone and Murphy write, and therefore entrepreneurs should always target customer pain points instead of pleasure points. To determine whether or not your product actually ameliorates a pain point, they present a simple test question. And to make sure your product is in prime position to sell, Burgstone and Murphy outline how to target future customer pain points – before they’re even hurting.