Product Development is an area that most of the women starting up their businesses take for granted. They assume that they are aware of all that is needed to know to make their goods. However, from the perspective of initiating a business, it is essential to have an idea and a product in mind.
The process of product development entails - idea generation - researching the idea - designing the product - trial runs - launch.
At all times we have to keep the customer in mind. There are several things that we like ourselves but it isn't necessary that customers would also prefer equally. The need is to screen out the product with the views of the potential customers. Then embark on researching the product to see how well it can be positioned in the market. Once you have an idea what customers are looking for and have researched the market for its acceptability its time to design the product with the researched inputs. Then start by making prototypes for trial runs. Always make smaller quantities to test the product and its acceptability. thereafter, plan and launch your product with a bang!!!
You can start by putting up your products on a Facebook page and sell to online customers.
So if you think that you know what is required ... not true ... remember, in business assume nothing ... work out everything in detail. We will add a 'how to' series soon where we will cover specific trades ... again, from the knowledge of real entrepreneurs.
This is a very vast field and will be covered in time. A general overview is presented here for the basic guidelines.
As you embark on this phase, make a checklist as the first thing you do. The checklist should comprise of:
Now make a storyboard - put it all on paper. You can make it in such a way that it can serve as a presentation board. Moving forward you would need to know how to effectively and cost efficiently put together a product that customers want and are happy with what you offer.