Creating a product out of your innovating idea
A brilliant idea is only as good as the paper on which it is written. Thousands of ideas die every day around the world due to a lack of implementation. Unless someone is prepared to transform a fantastic idea into a product, it can only be considered good potential.
A brilliant idea is only as good as the paper on which it is written. Thousands of ideas die unnecessarily and prematurely every day around the world due to a lack of implementation for a variety of reasons, the worst of which is a complete lack of know-how to take the idea further. Unless someone is prepared to transform a fantastic idea into a product, it can only be considered good potential.
All ideas have the potential to be successful – Often, the nagging doubt in our own minds prevents us from moving further with the concept. It's important to remember that no idea is worthless, no matter how little, inconsequential, or outrageously ambitious it is. If that were the case, we'd still be living in the Stone Age, and the likes of Newton and Einstein would be bored to death by the monotony of living an unworthy life. If the concept is conceivable, it can be implemented as long as it is feasible and valuable.
- Take your time to research- The first step in the overall process is to formulate a motion. What matters is that one finds value in the thinking, and as a result, one should assign a value to the idea in order to determine whether the product's value is worth the effort required to make it into a product. As a result, it is critical to educate oneself on how to make money from an idea and turn the entire process into a viable business enterprise. It is also critical to conduct thorough research in order to comprehend the value of protecting intellectual property through patents, trademarks, copyrights, and other means, lest the concept is copied in whole or in part by another organization.
- Empathize with the users - You can't design a solution to answer a problem unless you've been through it yourself. As a result, it is vital for the innovator to personally experience the right pain point of the end consumers. All outstanding ideas are based on a human-centered approach that uses empathy and creativity to come up with unique solutions that add value to users.
- Don't be the lone traveler – join a group. The process of converting an idea into a product can be daunting, so it's always a good idea to get professional advice and assistance to ensure that the proper processes are in the right hands. If money is a constraint, look for a co-founder who believes in your concept and is willing to go the extra mile to see it through to completion.
- Find out who your rivals are – One should have a thorough grasp of the other market players and what makes their products work or fail. This will provide you a better understanding of the product's actual requirements, minus the frills and gimmicks that may or may not appeal to a client.
- Develop a prototype – Once one is certain that all of the processes are legal and that the necessary research has been completed, he should consider developing a prototype and deciding whether he wants to manufacture his product himself or sell the manufacturing rights to a third party in exchange for a license fee and royalty payments. It's worth noting that prototyping necessitates constant tweaking in order to perfect the final product. It's usually a good idea to organize an unbiased test group that can provide helpful feedback as the final product nears completion.
- Become an expert at pitching your goods – Your idea may have all the makings of a fantastic product, but if you lack the ability to pitch it for marketing and sales purposes, it may never see the light of day. Read books to familiarize yourself with the pitching skills required to market your product to the right audience.
All necessities don't necessarily turn into inventions unless there is a pressing need for them and someone ready to go to great efforts to have the wrinkles smoothed out. It takes more than a bright idea to turn a good idea into a valuable product. Even yet, in order for an end-user to benefit from what it has to give, it must be presented in the appropriate context. If the entire process is organised in the same way as described above, many abortive procedures will be eliminated, and the optimum path of production will be used to arrive at an economically viable product with a value proposition for customers.