Marketing

3 Top Tips for Getting Your Product to Market

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Every year millions of people dream up new products. Dreaming up a potential product and realising that dream are two very distinct and different things though.

Further, getting a product, even when it has been created (at the very least as a viable prototype) to market is another hurdle entirely, and all too often the one that in fact fells many a would-be inventor, business person, entrepreneur or start-up.

For that reason, here are three top tips that aim to simplify and as well provide those trying to float their idea or product into the often choppy waters of a given market a hope of doing so.

  1. Understand the Design Process

Some of those attempting to get a product (of any kind) to market will already be rolling their eyes or sighing at this first tip. None the less it remains a top one to understand every aspect of the design and product development process. Failure to fully comprehend and exploit each design stage (and there are quite a few of them) results in creating a product that fails to get to or succeed in the marketplace because it fails to reach its full potential – all through a creator’s failure to spend enough time or effort studying and facing the often harsh realities and tricky questions posed during a product’s developmental stages.

Therefore, to not only give your idea the best chance of getting to market but as well of dominating its intended market (or at least avoid sinking in it), ensure you are well versed in the design process and exploit every opportunity to better your product these stages provide. To do so and to challenge those who think they know it all already, refer to the Your Article Library website where you will discover the tersely written article and guide: New Product Design Process: 6 Major Steps Involved.

Meanwhile, and because it matters, for those yet to begin or embark on the actual product design and development process, an equally valuable (and bonus) tip is to take that initial and necessary product research stage seriously. The initial product research stage serves to make or break the hopes of an idea ever becoming a reality by being objective about it, which can and will stand to save yourself a lot of time, money and heartache otherwise wasted on a product that was perhaps doomed from the get go, provided you take the research stage seriously and do not let your heart govern your head, of course.

  1. Ensure Your Product Reaches its Full Potential

Ensuring a yet to be product reaches its full potential in 2017 and so stands the best chance of making it to market, and beyond that succeeding in the marketplace, involves and will be determined to an extent on the technologies used to develop and turn it from an idea into an actual product or prototype.

Hence, it is imperative that you do not only utilise said technologies but that (and in order to do so) you are aware of what they are, why they are used and how to make the best us of them.

Then, for those who are not currently well versed in ‘CAD’ or think they are yet cannot answer the question: why is PTC Creo Parametric revolutionising 3D product design? now is the time to find out. After all, it could determine the future of not only your product, but your career.

Fortunately, studying up on the software used today in product design and development is easier than ever before. To prove as much, give the guides, guidance, explanations and discussions provided by experts Cambridge Design Technology a going over.

  1. Secure Investors

Most would-be or even established inventors, designers and product creators cannot afford to finance their own product development. Of those do manage this, many more cannot afford to get their finished product to market. Consequently, the question of how to find a or several potential investors is likely to crop up during some stage of a product’s design process.

It is not only imperative in most cases and for most inventors and product designers to secure investors though; it is equally important to secure the right investors – and to know that the right investor is not always one who is willing to throw the most money at a product or even offer the best deal in terms of what percentage of a product or company they demand.

Often, and especially in the case of first time or fledging start-ups, it is tempting to pick an investor based on which offers the most financial backing whilst demanding the smallest stake in said product or business. The reality though is that it is often worth being somewhat flexible or at least open to negotiation as the most appropriate invest will recognise this and almost certainly use it as leverage – and whilst investors can often afford to be ‘picky’ and even let a potential investment slip through their fingers if a deal cannot be struck, it can swiftly end an inventor or would-be businesses’ hopes of ever making it to market or getting off the ground.

For this reason, it is as important to learn how to approach and pitch to investors as it is to understand the design process. Then, if you are yet to secure an investor or haven’t before attempted to do so, before throwing yourself and your product to the proverbial wolves or dragons (to allude to the hugely popular UK and investment orientated BBC2 TV show, Dragon’s Den), give the Forbes guide: How to Sell Yourself to Investors a read through.

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