29 Oct How to Launch your First Product
Do you have a burning desire to get the product idea in your head out there onto the shelves of stores up and down the country? If so, read on. I’ve put together some tips for you to do just that, in the best possible way. Read on to find out what you need to know.
The big idea
So, you have a great idea for a product, but don’t quite know what to do with it. Your first steps are getting a rough design on paper, researching similar products, and working out your unique selling point. Unless you are 100% sure you have a USP, don’t stop working on your idea until you are. If there’s no need for your product, or it is the same as all the rest, there won’t be a market for it – it’s that simple.
The legal issues
In the business world, you need to avoid any legal questions to do with your product. They are expensive, take you away from your work, and could blow your new business out of the water before you get started. So, make sure you spend a while looking at current patents to find out whether you are stepping on someone else’s toes. If you find you have a similar idea or are using a similar concept, you may have to adjust your idea.
Now you know you are on safe territory, it’s time to make your prototype. There are two ways of doing this. Firstly, look into learning how to do it yourself. You could take yourself to some scientific molding seminars to find out the processes needed, for example. Secondly, you could get in touch with a manufacturing firm that specializes in making prototypes. This might cost you a little more, but it is the quickest way to get your product in your hands.
Does it work?
Now is the time to find out if there are any kinks in your product. Pass it around to friends, family and colleagues and ask them for honest opinions. Find out what works, and what doesn’t. If you need to make wholesale changes, then you might decide to make another prototype. While your product doesn’t have to be perfect, it needs to be almost there if you are going to persuade stores to take you up on your offer.
Presenting your product
Now, the real work starts. Your powers of persuasion will come into effect here, as you hawk your new product around to buyers. You have one task – getting those buyers to believe in the product and imagine their cash registers rattling with sales. Practice your presentation, so you are pitch perfect, and back it up with as much research and evidence as you can. And, prepare to answer a lot of questions – your audience will grill you on everything you know.
Find a manufacturer
If you get to this stage, congratulations! You now have enough orders in place to proceed with the wholesale manufacturer of your new product. Make sure you research the company you choose well – you should look for previous successes, and speak to past clients. And, of course, you are looking for a great unit price. Now all you need to do is market your product – head over here for a guide – and with any luck, your idea will become a great success. Best wishes!