I’d first focus on establishing a crystal-clear empathy with the audience I was planning to serve, so I know what their problem is, how they feel about it and what they currently do to try and solve it. The best way to learn this in my experience is in person, over the phone or a distant third is via monitoring discussions in groups, blog comments, forums and social media.
If I don’t do this step well, I won’t have an audience or make any sales down the line, so it’s the vital first step for ROI.