How to Turn Ideas into Products

How to Turn Ideas, Vision and Mission into Products

idea-into-product

Every product that is currently available on the market first started out as just an idea. From a software platform to a smartphone or kitchen appliance, most of the items that you can buy came to being through invention. Nevertheless, the journey from concept, vision and mission to a finished item can be quite a long journey.

Those who are brave enough to travel this road usually face plenty of setbacks and obstacles. However, if you are arm yourself with the right resources and information, you can succeed in bringing your products to market. Here are a few tips to enhance your value proposition and get started on this amazing journey.

Steps To Turn Your Vision and Mission into Reality

It is critical that you understand that turning your ideas into products is going to be a bit complex compared to simply handing over your designs to a developer or manufacturer and then waiting for profits to start rolling in. These are some of the key steps you need to do to ensure scalability and success of your product.

Market research – Even before your start spending money on creating the product or getting online accounting software to manage your finances, you must first determine whether or not people will want to consume it. Consider what is already available and check out the competition. You will get a clearer picture of your specific market and also what your need to perform differently in your vision and mission to be unique from your major competitors.

Do a patent research – The next question to ask is whether your design is infringing on someone else’s intellectual property or copyright. Simply go to the Nigerian Patent and Trademark Office website and research any patents based on similar products. It is recommended to consult a lawyer who specialises in patents to ascertain that your new product is legal to create and basically answer any other questions.

Create a prototype – After finishing the first three steps, it is now time to bring your vision and mission into reality. A prototype can either be a basic diagram or drawing or a complex, working professional item. Decide on the best prototype based on the value proposition you want to create. You can what this video on how to build a value proposition from Havard innovation Lab

Conclusion

When you reach this point, you will now have to make another crucial decision between developing in-house or outsourcing. In a outsourcing, you simply the product design and specifications to another company so as to develop and maintain. In contrast, developing in-house means that you will handle everything from creating your product, sales, marketing, staffing to setting up cloud based accounting software and all other relevant tasks to bring your product to the market.

Photo Credit.

By Adimula Adetayo. Co-Founder, ProbityBooks. An Information Technology professional with over 15 year experience in government, international and privately owned organisations, talented, result-driven team leader.

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