So you’ve had this idea for a new product, and you think that it has the potential to be big – in fact, it could even be a best seller – the only problem is you don’t know what the next steps are. You’ve got your idea, but so far that’s it, now what?
The chances are that you want to ensure that your idea is tried and tested before it’s sold to the public, and also that it gets off to a promising start. Then there’s protection to think about, before you put your new product in the public eye, you most probably also want to ensure that it’s protected, so that no one else is able to take your idea and pass it off as their own.
So the question is, what are the steps that you need to take to get your product out there and make a success of it? For everything that you need to know, read on.
Scrutinize Your Product
The first step that you need to take is to scrutinize your idea. This may sound a little strange, but there’s no point putting all of your money into a product only to find out that the product has a low chance of success. So before you do anything else, spend some time looking objectively at your idea. Ask yourself, is it a relatable product, is there a need for it, is there a market for it, is it going to be affordable to produce? Then there’s the question of whether there are any similar products on the market or whether your product would be unique? This is incredibly important because if the product is already on the market, it may already have been patented. (This is something you must do to protect your product – have it patented.)
Have Prototypes Made
After you have scrutinized your product, the next step is to consider having a prototype made so that you can pitch the product idea to different stores or to investors. It’s very difficult to pitch an idea and gain support without a prototype to show what your product will do, so it’s definitely worth investing in getting prototypes made. To speed up the process, it could be worth looking at companies that offer rapid prototyping, so that you are able to get your prototypes out as quickly as possible.
Create A Marketing Plan
Once you’ve got your prototypes on the way and have a plan in place in terms of what companies or investors to target, the next step is to focus on your marketing. Even if you don’t plan on dealing with your marketing needs yourself, it’s still important to put a basic marketing plan together that explains who would be your target audience and what the best methods of marketing your product to them would be.
If you’ve had a light bulb moment and come up with an incredible product idea, it’s important not to rush into anything. Take your time to think things through so that you can determine whether the product would be as successful as you would like to think, and also so that you can plan the strategy that you will use to market your product and ensure that you make a success of it.