If you think your product is simply what you're producing, think again.

A product is much more than a bundle of plastic and wires, a collection of services directed at a single outcome, or a software application.

In fact, a product is the complete answer to the buyer's need. Think about this: remember the Christmas-time trauma of opening a present (for yourself or your children) and discovering the words "batteries not included." Hell, for parents and children alike (unless the parents had foresight or good memories enough to buy sufficient of the right batteries beforehand.)

The solution to the child's problem is not the toy: it's the toy plus the batteries. Anything less and it's more of a problem.

I bought a printer the other day. In one store the printer came bundled with the special cable I needed for it to connect to my PC. I'd not thought about the necessity of this cable, but it was certainly part of the product from my point of view, just as was ink, instruction manual and software drivers. Just think if any of these elements was missing from my printer when I got home. Big problem. (In another store, the printer did not include the cable. You can guess where I bought my printer.)

Think about what your product needs to be to solve your prospect's problems and you'll find it a lot easier to make sales.

But while bundling a cable with a printer is something that can reasonably be done after the printer is built, for most products this after the fact add-on may be too late.

The right time to think about your product, from the buyer's point of view, is right at the outset: before you build your product.

At this early stage you have a chance to adapt your product or build into it elements that make it better fit the needs of your prospect.

Which begs the question: who is your prospect?

If you're just starting out you may have a broad conception of your target market, but, unless you have unlimited financial resources, now's the time to get more focused and identify a specific segment to match your product against.

Sounds a bit chicken-and-egg, and it is. Imagine the product, imagine the market segment. Is the product going to succeed in the market segment? If not, adjust the product - or adjust the market segment, or adjust both.

Choosing your market segment

Choosing your market segment is worth a brief of its own, but here's a thumbnail:

Your ideal segment is one in which you can realistically grab the #1 or #2 market position; and contains enough real prospects to sustain your business. If the segment you've identified doesn't meet these criteria, consider redefining the segment and adjusting your product accordingly.

If you come up with a number of segments that might fit, assign values to each around size of segment, competitive threat, openness of the segment to your solution, and likelihood of success, then prioritize the segments and go for the most promising one first.

Put yourself in your prospect's shoes

Now, imagine your prospects. (Literally: create a set of prospect "personas"; give them names, job positions, relevant needs. Just doing this exercise will be enlightening.)

Now put yourself in your prospect's shoes and answer these questions:

For all of these questions, if your product can't provide a compelling answer, you must adapt or extend your product, or add elements outside the product (e.g. batteries; printer cable) until it can.

And if you can't make your product match your prospect's needs? Pick another market segment in which you can.

If you can't do that, you've just saved yourself a lot of heartache and a stack of money.