Loading...
Answers
MenuHow to test interest in gift box business idea (like Packed Party) with low upfront capital?
Packed Party isn't a subscription box, more of a gift box. Feels like a market with a lot of potential with the right angle, but how to test it out?
Answers
Understanding your market is key. Without a market, products flounder, or worse, fail.
I've conducted research on markets where a product didn't exist yet. The research doesn't have to be expensive or lengthy. The purpose of research is to understand the true needs of the market.
Based on the gift box idea, have you identified a user type or persona that this product would be suitable for?
That is where I would start.
Draw out the different types of users and scenarios there are for the product and start talking to them. Get an understanding of their current gift giving habits:
- Who are they buying gifts for? Is it someone they buy for regularly? How often? How much do they typically spend?
- What are they buying?
- Where are they buying (online/physical retail store)?
- When are they buying? Is it last minute?
Hone in on where they're having problems. If you start noticing patterns in their answers, this becomes the pain point(s) your solution/product can address. Towards the end of the conversation, you could run the gift box idea by them and see how they react to it, but gathering their current habits before biasing them towards a solution would help you in the long run.
After conducting the research and you feel that you've nailed it, then you can set up a website that gathers email addresses before you create the product. This begins the iterative process, and as you work through each step, you're gathering interest and insights from potential customers and working it into your new product.
If you have any questions about getting this started, please contact me.
I would look into the story of Buffer and how the founder got a lot of interest with no product. I would create a landing page with a simple email sign-up and drive traffic to see if anyone is interested. Then use that email base to refine the actual product.
Have you heard of subbly.co?
Supposed to be a quick and easy way to start a subscription box website.
Let me know if that helps.
Related Questions
-
I've been working on an app concept for 6 months and built an MVP. Is it better to pay a development firm to build or hire a developer as a cofounder?
I have built two software companies by hiring out the development work. I sold one for a decent sum during the dot com era (circa 1999). I remain a shareholder in the other one. I currently work with amazing development company on behalf of one of my clients. Here are some things to consider. 1. Do you really want to give up equity? If not outsource. 2. How fast do you want to get to market? If sooner than later, outsource. 3. How capitalized are you? If undercapitalized, either outsource offshore (which runs about 20% of US rates), or bring on an equity development partner. I offer a free call to first time clients. Let's chat and I'll give you some great advice from three decades of experience. Just use this link to schedule the free call: https://clarity.fm/kevinmccarthy/FreeConsult Best regards, Kevin McCarthy Www.kevinmccarthy.comKM
-
How can I smoothly transition from full time worker to self-employment?
The ways I've done this in the past are 1) Find some customers that are willing to hire you (or your product) but know that you'll only be free nights & weekends to support/work with them. 2) Find a "partner" (co-founder or other) that's got a flexible schedule that can help build the business while you're at work. 3) Block out nights, mornings and weekends to build the business till you have enough orders to cover 50% of your salary. This might mean 7pm-11pm most nights, and 4 hours each day Sat & Sun. Make progress (sales $$$) and momentum. All that being said, it's risk reward. Sounds like you want to avoid taken the risk, and I get that .. but the upside is always smaller. Unless you put yourself in a position to have to succeed (ex: quitting your job) then you may never make the scary decisions that are required to build a company (like cold calling, going in debt, making a presentation, etc). I'm on company #5 with many other side projects started nights & weekends .. so I get it - but don't be afraid to bet on yourself and go all in.DM
-
What are the key accomplishments for the first year of a startup?
A generalized question can only get a generalized answer. The most significant accomplishment is validating that the product you have built is a fit with your target market. This is demonstrated primarily by engagement (the people who sign-up or who previously visited, continue to return) and secondarily by growth, ideally based on word-of-mouth or viral growth but effectively converting paid traffic is a great second prize. Other significant accomplishments include: Not running out of money Recruiting and retaining great talent who believe in the founders' vision. Your loved ones not thinking you're as crazy as they thought you were a year ago. I'm happy to talk to you in a call to give you more specifics about what you want to set as your goals more specific to your startup.TW
-
Is there any typical questions for customers' pain points discovery or it's impossible to standardise?
I have built several multi-million dollar businesses using (2) very simple questions: "What makes you say that...." and "Tell me more...." No matter what someone says to you, you just keep asking one (or both) of the questions. If you do it 4 or 5 times in a row you'll learn everything you ever wanted to know.DW
-
I'm having problems with ideation for a startup, I'm a web developer, what needs of yours aren't being met? Or how can I find a big problem to solve?
It's really ill-advised to solicit your vision from anyone. In my 20 years of building, investing and supporting tech companies, I don't know of a single success story that has it's origins in someone with your approach. Running a tech startup is incredibly hard. It demands sacrifices few are truly able to make and come with it tremendous risks that most people are unwilling to take. It sounds to me as if you want the startup life because you have an impression of what it's about but haven't yet experienced it first-hand. I'd encourage you to first join an early-stage startup. Developers are incredibly in-demand. Find an entrepreneur who has some experience, funding and a compelling vision that you believe in and get to know what the journey is really like.TW
the startups.com platform
Copyright © 2025 Startups.com. All rights reserved.