Two ways to create new products, services and businesses

There are two ways to create new products, services and businesses.

1. The old school model is to create the new product, service or business and then try to convince the market to buy
2. The new model is to create what the market wants.

The key is to utilize the information that is available to know what the market wants.

People think of Google.com and Bing.com as search engines. While they certainly are search engines they are also great aggregators of data. They know what people are searching for, what they are looking for, when, where and even why.

People think of Facebook and Twitter as social networks. While they certainly are social networks, they are also great aggregators of data and information.

Marketing is important but first use the data that is out there to know what to create before you get to the marketing stage.

Have a great day!

Lawrence

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