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How to Make the First Step to Develop Your Product: from Sketch to Market

How to Make the First Step to Develop Your Product: from Sketch to Market

Has ‘how to create your own product’ been bugging your mind? Then you are at the right place. It matters that you seek to create a change in the world through your product and that you want to make some revenue with it. 

We understand that it might seem to be a herculean task. But once you understand the dynamics of how setting up your product works, everything else becomes easy. And more importantly, you would be able to scale up your business in general. 

In this article, you will learn how to generate ideas for your product as well as how to develop it. You would also learn about market tests and launching out. Let’s make product development easy peasy for you. 

How To Create Your Own Product

Generate a Product Idea

This is where everything begins. The product idea gotten ere determines how the entire development process would go. But how do you generate a product idea that sells in the market?

First, you have to realize that waiting for an ‘aha’ moment might not be a smart model for creating your own product idea. There are several other ways to go about this. And an effective one is by brainstorming and iterating upon a product already in the market.

You could, of course, decide to create something entirely new. But you could also opt for modifying something already in existence. Or incorporating a better experience for the user in your new product.

Further, another good way to come up with a product idea is by analyzing online marketplaces and product descriptions. That way, you would note a need in the market and you could seek to meet that need via the product that you create. 

Market Research

Don’t make the mistake of jumping right ahead into production. Take some time to do a feasibility study of your product thriving in the market. This product validation stage would help you to ensure that you are making a product that people would want to spend their time, money, and effort on. 

There are a couple of ways you can carry out this market test. You could share with a target market on online forums by creating an outright online survey for feedback. You could also make use of Google Trends to research market demands. 

Crowdfunding is another potent way to get the market’s opinion on your idea. The same also goes for posting on a forum like Reddit

Strategy Phase

This is the stage where you create a clear roadmap on how to make your product. This is essential because product development can be a complicated journey. So, you need a clear path on how to go about it. 

At this planning stage, you would clearly spell out the kinds of materials to be used at the prototyping stage. In the same vein, it will help you when you are looking for materials to use for production based on the design. 

Usually, the bulk of the work here includes sketching and writing down your plans for the product. Make a clear hand-drawn sketch of what the product would look like with as many details as possible. 

Create Product Prototypes

This phase involves the creation of a prototype that you would use during full-blown product manufacturing. It is not so sure that you will get a perfect final product at once. So, you need a prototype to show you what the final product might look like. 

However, when you want to create your product, check out how well the prototype mirrors your sketched image. At this phase, you can make edits and experimentations as to the looks and designs. Thus, you can remove excesses and improve on the prototype until you get a final sample you are satisfied with. 

Prototypes are good assets to have in your pitch deck when reaching out to investors for funding of your innovation and business. So, you should give this your best shot. This means you should try as much s as possible to incorporate low-risk inputs and feedback after doing user testing. 

Sourcing Phase

Here, you simply look out for materials and manufacturing partners that can bring out the vision you have in the idea and porotype. 

This phase typically involved sourcing the best deals and organizations that fit into your product manufacturing process such as materials, shipping, storage, warehousing, manufacturers, suppliers, etc. Compare costs and make sure to create a backup option in your pool of findings. 

In this phase also, you would need to do a bit of costing. That is, you take note of every price detail of each product unit’s journey from production to the hands of the user. This is where you also create budgets based on available capital. 

Production 

This stage involves bringing the raw materials you have sourced together. Here, you make mass production of the final prototype earlier made. 

Sale&Marketing

This is the stage in product development that ensures revenue and profits. Here, you introduce your product to the market and sell to them. You would need a product development team to help you with marketing for the product launch. 

At this phase, most of the work would be to generate leads and convert them into customers. A good way to do this is by sending the launch emails to persons who have subscribed to your product or business email list. You could also work with influencers to help push your products via some form of affiliate marketing arrangement. to perfect your craft while on the product journey.

Related video

 

Biggest Questions about Developing New Ideas

How a new product is developed

Developing a new product can be broken down into a few steps. And they include the ideation stage, research stage, planning stage, prototyping stage, sourcing stage, and costing stage.

What are the five steps in developing a product?

To develop a product, these are five universal steps to take to achieve. The five steps include idea generation, screening, idea evaluation, product development, and manufacturing, then commercialization and marketing.

What are the 3 types of product development?

If you want to create your own product, you could fall within one of these three categories. That is improving an existing product, an extension of a product line, and new-to-the-market categories.

The fact remains that for you to create your own product successfully, you only need to sit down and plan, then go on to execute. The process of a successful product scale has been highlighted above. Check them out and give that blooming idea in your mind a booster today! 

If you are asking about “how to make my own products”, LA NPDT has come to your rescue! Our ready team members are master converters of product ideas into profitable businesses. We have many services available for you, including our flagship CAD models and PCB circuits, building prototypes, and a host of others. Reach out to us today through a direct call at 318-243-5789 or via lanpdt.com

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