Launching a new product or service? Here's a tip to make it more successful

First figure out:
1) What is the core problem I am solving?
 
2) Who has this problem?
 
3) How big or significant is the problem? (you want to be offering a pain killer not a vitamin)
 
4) Are there enough people/businesses out there with the willingness and ability to pay to solve the problem to make this offering worthwhile? (be careful about choosing a niche that's too small - unless you want to dominate that niche then move on to another one)
 
Once you've figure dout the above, the next step is to nail down your ICP (Ideal Client Profile).
 
Here's how:
Depending on the market you intend to pursue, your ICP may need to include specific details around firmographics (if B2B), then down to the human level demographics (could apply to both B2B and B2C), then ultimately you want to build a buyer persona that includes psychographics (e.g. fears, frustrations, goals, challenges) as well.
 
Understanding your ICP really well, particularly the negative consequences of how they're solving(or not) the problem today, enables you to develop initial value proposition messaging to engage potential buyers in a validation conversation.
 
That's the next step you would need to focus on (and a subject of another post!).