We’ve previously covered why you need to be an expert in your own product, now we’re going to let you in all the different areas we think you should be an expert in to be able to create the best product you can create and to help in getting your product sold.

Problem

• What is the problem you’re trying to solve?
• Why is it a problem?
• Who does the problem affect?
• Why hasn’t the problem been solved before?
  

Product

• What is your solution to the problem?
• What do consumers think of your product?
• Are people willing to pay for your product to solve their problem?
• How much are people willing to pay for your product to solve their problem?
• How are you going to manufacture your product?
• How much is it going to cost you to manufacture?
• How many are you going to be able to manufacture in any give time? 
• Where are you going to manufacture your product?
• How do you plan to distribute your product?
• What are the benefits of your product?
• What are the features of your product?
• How are you going to package your product?
• What customer services do you need to offer?
• Do you need to have a patent?
• What is the life span of your product?

Market

• Who is your target market?
• What do you know about your target market?
• Are there any other markets that your product may fit into?
• How are you going to obtain test sales data?
• How are you going to gain feedback to improve your product?
• Is there really a need for another product in the market?
• What are the best ways to let your target market know about your product?

Competition

• How well do the other products solve the problem?
• What other products are there on the market to solve this problem?
• What differentiates you from the competition?
• Why is your product better then the competition?
• What are your competition doing right?
• What are your competition doing wrong?

Knowing the answers to these questions will help you in developing and selling by making you an expert in your own product.

Read part three to find out how to become an expert.

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