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Toolkit—New Customers and Product Development

In: Practical Tools for Youth Entrepreneurs

Author

Listed:
  • Thea van der Westhuizen

    (University of KwaZulu-Natal)

Abstract

This chapter gets downProduct development to the nitty–gritty of whatNew customers we are going to do: How we are going to Developdevelop a way of adding value and creating a product or service that is useful and sustainable. The key issue in the chapter is to be truly creative. The chapter discusses innovationInnovation and how our unique business offering is going to make money. So, we need to think about market research and the difference between marketing and sales. The chapter also discusses three ways to get into the market: business tendering, Starting a businessstarting a business with no products (‘Drop-shippingdrop-shipping’), and starting a business with no money. To start a business, we sell a product to a customer. The SHAPE Lean Model(s)Model highlights the importance of working out what people want; we then sell it to them and build an organisation that can continue doing this.

Suggested Citation

  • Thea van der Westhuizen, 2024. "Toolkit—New Customers and Product Development," Springer Books, in: Practical Tools for Youth Entrepreneurs, chapter 0, pages 161-185, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-44362-6_7
    DOI: 10.1007/978-3-031-44362-6_7
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