If you want to start your own business you need a great product idea. Let’s assume that you’ve already got that, your next step is to start designing and building that product. It’s going to cost you a lot of money to develop a new product so you need to be sure that you aren’t wasting your time on something that’s never going to sell. Of course, there’s no way to be absolutely sure whether your product is going to be a hit or not but you can have a pretty good guess if you ask the right questions. If you want to know whether your product is good or not, answer these questions about it.
Does It Fulfill A Need?
This is the number one thing to ask about your product because if the answer is no, you’re probably not going to get that far. Granted, there are a lot of products out there that are frivolous and don’t serve much purpose but if you want to really get sales going, you need to solve a problem for your customers. It’s also important to remember that it needs to be a problem that affects a lot of different people, not just you.
Does It Look Good?
This isn’t quite as important as the functionality of the product but it’s still a big concern for customers. Until now, you might have been focused mainly on getting the product to solve whatever problem you want to solve, but once you’ve done that you need to think about how it looks. After all, customers are going to be putting your product in their house or carrying it around with them all the time, so it’s important that it doesn’t look too ugly. When you’re in the design phase, use a 3d printing service to make prototypes and then get focus groups to look at it. If you choose a wide range of demographics you can work out whether your design is inoffensive or not.
Is There A Gap In The Market?
If you design a product that fulfills a need and looks great, you’re on the way to creating a successful company, but just remember, you might not be the first person to come up with this idea. One of the biggest mistakes that companies often make is that they think their product is unique when it’s just a slightly altered version of a product that already exists. If this is the case, you’ll find it really hard to get off the ground. If there is an already established company selling a very similar product to yours, they’ll have a more recognisable brand so customers will be more likely to go with them. After all, they’ll have more faith in a company that others have vouched for. When you design your product, you need to do extensive research on the market and make sure that it’s actually a new product, not just a slightly different version of an old one.
If you can answer all 3 of these questions with confidence, there’s a good chance that your product will sell.