Step 1: Find Unresolved Problems
How do we know what market and product to focus on?
Imagine an electronics superstore with its rows and rows of televisions all displaying the same channel. How do you choose which one to buy? Well let’s see . . . You could choose a brand you know and trust, perhaps a Sony or Panasonic. Maybe the salesman has a recommendation for you to consider. Or you could whip out your trusty Consumer Reports and choose the number one-rated model. How about the cheapest one? Sure, that’s an option too.
Now think for a moment about your personal television habits. Got any problems your existing TV doesn’t solve for you?
As people first learn the Tuned In Process, many think that collecting market problems must be easy and straightforward. After all, they say, how difficult can it be to find some potential customers and ask what problems they have with a specific product or service? But imagine for a moment that poor TV product manager who collects problems in the market that he has no ability to solve. What if he called you and asked, “What problems do you have with your television set?”
Over fifteen years, we have asked thousands of people just like you what problems they had with their TV. Most simply stare blankly. Some articulate problems such as: “My TV collects dust” or “I don’t like the programming” or “I don’t like how the sun shines on the screen.”
Then we ask, “Ever lose your remote control?”
In the 1990s, Magnavox tuned in to ...