Market Timing · Market readiness · Component
The problem awareness
Whether buyers already know they have the problem — because if you have to explain it first, someone else will sell to the educated market.
The deliverable
What it is
A market where buyers name the problem unprompted is ready. One where the problem has to be explained requires education, which is expensive and benefits whoever arrives afterwards.
The test is cheap: ask ten prospective buyers what their difficulties are and see whether the problem appears without prompting.
One level in
What it is made of
Each element is a constituent part of the component. Follow one to see the attributes it carries.
The recognition
Whether buyers name the problem themselves.
3 attributes: Name it unprompted · Asked · Their words
LearnThe education cost
What teaching the market would take.
3 attributes: Estimated cost · Time required · Benefits competitors
LearnThe current behaviour
What buyers do about the problem now.
3 attributes: Current approach · Current spending · Satisfied
Learn
Money already being spent badly on a problem is the strongest readiness signal available.
The other components in market readiness
The prerequisites
What has to exist for the solution to work at all — each one checkable, and their absence is the answer.
LearnThe existing spending
What is already being spent on the problem today — the strongest readiness evidence available.
Learn