Product Development

Nurturing the seed of an idea into a salable product extends way beyond developing the initial prototype. From protecting your intellectual property to developing the processes that will sustain your product in the marketplace long after the project of “develop project” is over, we can help you plan for success.

As you conceptualize your product, one of the first decisions you’ll need to make is whether you are going to focus on direct sales to consumers or if you are going after larger sales and licensing opportunities.

The explosion of the Internet has made it much easier to sell direct to consumers. But if your dreams are bigger, you need to be able to demonstrate 3 things to validate your idea as a viable product.

  1. Market Potential: Before investing time and money into developing a product, do your homework. Does your product have a unique selling point that will set it apart from other products on the market? Is there a large enough group of consumers to buy your product? The ultimate proof of market potential is actual sales. But in the beginning, you’ll need to paint a picture of the potential market share you expect to capture.
  2. Empirical Data: Once you are comfortable that you have a unique selling point and you can convince potential buyers that there is a market for your product, you need verifiable results that the product does what it claims to do.
  3. Qualitative Feedback: Do your potential consumers like your product? More importantly, do they like it enough to buy it?

Gathering test results and consumer feedback takes time. But these data points are key in convincing buyers that your product really is different! These 3 elements will show your buyers that you are more than a dreamer. You are an entrepreneur!

We have been where you are now! Take a deep breath and push forward.

If you are interested in our developing success story, we would love to tell you about our latest product. If you would like to talk to us about your idea and what we can do to help you convert your idea into a business, drop us a note.