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Things, which is to get the truth out of them and make sure that people write down their first impressions. is there anything else when you are having a focus group that you need to think about? >> well, i think that there is always as much information as you can get out of any meeting that yount wa, becau nt wwant,t want to overload people. you want the core values of the product, and she did a great job to know, i want to know about the package oing or the emotion response to the product, and ...

-- surveys about what new products will i add and the producks and the services, and that is a way to do it and talk tact products and the services in the wings. >> and the if i kree it and will you buy it is the fake, i have this and sign up now. >> well, you have to be careful about starting the business, because the math has to work, and everyone says, i will buy it and will you buy it at $39.95, and can you make money there, and how much to put the website together, because having the nephew...

Us all of the times. >> and how about kids on vacation. >> yes, next product. >> and thank you for the advice for an elevator pitch. >> thank you very much. it is time now to answer some of your business questions. jay and scott are with us once again. first is an e-mail from tony who writes, everywhere i turn, i hear and read that you need social media to maximize the business. i have linkedin and google and i cannot find a user manual on these sites. i know that the kids are born with this k...

Me youre getting the valuation from some rhyme or reason, other than your equity interests. >> you guys both like the idea. it sounds like. as a business, would you take another meeting? and im going to get this puppy something to eat whale were talking. >> i would see some numbers, the 10%, you think the company is worth $2.5 million. which seems rather outrageous. youre asking someone to take all the risk for your idea and you get most of the upside. i would definitely want to look at how you ...

>> i want to hear what the panel thinks. do you think they got everything in that they needed to hear? >> i think its a clever idea, it might work. but theres a difference between a clever idea and a viable business. im wondering where the $30 million, the 1%, how many people did you get to with the tv ads, those kind of questions. >> the statistics came from the appa, the american pet products association. >> that number makes sense. >> the question is, how many people are you going to be able ...

People write down their first impressions. is there anything else when you are having a focus group? >> i think there is always -- as much information you can get out of any meeting you want. you dont want to overload people. what are the core values of the product? what do you need to find out? she did a great job about the packaging and emotional response to the product. every product and service is different, but you want to get to the meat and potatoes. >> this is what you need to know at th...

Will the market accept it if we add it. not just the services you already have. >> and more interesting than if i create this, would you buy it. >> i think we have to be careful to remember this is just one piece of starting a business. the fact is the math has to work. everybody would say i would buy that. would you buy it for $39.95 and can you make money for $39.95? how much will the web site take you? you cannot have your nephew do it after school. that will not work. to put the product toge...

Stupid. everybody wants to say this is a great idea. you need honest feedback. not just pats on the back. >> you have to cut through that. >> you have to be careful not getting stuck in the personal analysis. there is something to be said of the steve jobs philosophy. not every budget has that to minute ovwin over the market. you may not want to dilute that product by winning over your mother. >> the other thing that is interesting is did you like this product and would you recommend it to your ...

Feedback. >> she has a few simple rules when doing a focus group. the first and most important is making sure people are truthful. >> i would often say im considering starting this business. im going to devote the next five or ten years of my life to it. i really want to know what you honestly think. i found that was enough to break that need to be nice. >> her second rule, have people write things down before the focus group discussion. >> one, you get a written record of it. you can always go ...

>> but the testing didnt end there. they had the product mix down, but they needed to know how the customers would react to the new website. so they designed a basic version and road tested it with the usability study. >> and it is a great idea and i want to give it to my friend who is pregnant. >> usability is done one on one and you are basically trying to have someone talk out loud while they use your site and see what they are taking away from it and how they are reacting to it. >> the usabi...