When a market does not exist, an entrepreneur must create it or recognize a need for it. At this stage, it is important to identify those potential customers who dare to test the product or service and are willing to provide feedback about its use. These customers are pioneers and deserve special treatment. They help the entrepreneur identify the key drivers of the markets, the needs being captured and the value of the proposed solutions offered by the entrepreneur. Sometimes, you must make a large investment to create an awareness of a need and turn it into a market. However, it’s also possible to partner with one (or more) complementary businesses that could benefit from the creation of this new market.
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