If you have an idea for a product, it’s time to act! There may be competition for the same idea down the road, so follow these steps to take your product from just a thought to a physical creation that can be marketed and sold for profit.
1. Research and Concept
Can your product idea be fully visualized? If so, make a sketch as detailed as possible, making notes about possible functions and features. The more thorough you can be about these items can help you greatly in the following step, which is creating a winning prototype and product design. Research what is already available on the market by performing a quick online search. If it’s not readily available and/or easy to find, you may be onto something.
2. Product Development
First off, in order to ensure success in product design and development, you need to get back to the basics of your product, including noting the main functions it will perform as well as how people are intended to interact with it. For example, if you decided that the world needed a toothbrush that also included a razor with it, there would need to be some tough questions asked in order to vett the idea and make sure it will go the distance. If these questions are easy to answer and your product’s intended use is straightforward, begin testing the prototype on real potential customers.
3. Test & Manufacture
Being critical as possible, gather a team or focus group to see whether or not the product can be successful/useful to everyday people. Make sure that no comment is outlawed so that the creative process is not stifled.Mass producing your product may seem like a long shot from where you’re at right now, but once the ball gets rolling, it can happen surprisingly fast. The key to finding a manufacturing partner is to build a relationship with them, not just a “you build, I pay” kind of arrangement. They often give bulk discounts and favors for those who have taken the time to put their trust in them. Once your product is ready for sale, make a medium sized order to test the waters and gain attention. Once you have gauged the public interest, order a larger batch to save money per unit.