5 tips to creating a successful basic concept.
February 26, 2020
New PaWhen trying to be successful, basic doesn’t mean inferior. Usually, the most simple solution to any problem is the best solution.
You want to find a concept that is simple, straightforward and free of too many frills. A basic concept is clean and allows you to be efficient and effective. It’s something that does what it says it will do and does it right the first time. Let’s look at 5 ways you can approach creating a business concept that is unique and strong, but basic enough to actually succeed.
1. Consider the Service or Product
The backbone of the concept is what you are actually offering. Your product or service should solve a singular problem or multiple similar problems. For instance, the Apple iPod headphones that now come standard with all products are revolutionary because they were one of the first headphones that allow you to go from listening to music to talking on the phone with the press of a button. Before, you would have to take your phone out of your pocket to answer the call. With the headphones, one click takes you seamlessly from music, to call, and back to music.
No matter what your product or service is, its function should solve a problem. This solution should be the highlight of your concept.New Paragraph
2. Consider the Target Demographic
We would all like to think that everyone can benefit from our product or service. It makes sense to think that the more people you target, the more customers you will get and the more successful you will be. However, it’s best to get specific. For instance, the aforementioned headphones can theoretically be used by anyone. But it’s important to identify that the person who is most likely to buy would be someone who listens to music and takes calls on the go. This simple persona can mean easier marketing in the long run.
3. Consider the Selling Proposition
Having a specific target demographic leads into developing a selling proposition. “Having a unique selling point—even one that ostracizes some prospective customers—is a competitive advantage that allows you to avoid the trap of trying to please everyone.”1 This means that within the concept, you should identify the best way to sell that highlights why your product and service is the best option for that audience.
4. Consider the Competition
Once you establish your target demographic and seller proposition, you have to consider not only what makes your product the better choice, but what makes it a better choice than the other guy. It’s great to say that your headphones have a simple button control which allows you to answer the phone. But there may be other headphones that do the same thing. What makes yours better than theirs? Is it cheaper? Does it come in various colours? Are there other functionalities that make it a bargain?
5. Consider the Room for Growth
Even if your product or service is simple, don’t back yourself into a corner. Always look for ways to expand upon what you have. Your headphones are a great invention, but how can you make them better? Are customers complaining about the size of the button? Maybe they want to also be able to pause their music instead of answering a call?
Within your concept, make sure to build in room for development and growth
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