Product Development

Understand that products and services are the backbone of any business. Without a product or service offering, doing business is impossible. Think about it, from a consumer standpoint, we are always buying something and paying for a certain subscription. From buying groceries, to getting our cellphone service paid up, to subscribing to a newspaper etc, the list is endless. Have you ever wondered how these goods and services came to be? Today we are going to look at product development. How do we come about a product and what processes should we, as entrepreneurs, follow to get our product into the market? Here is a breakdown of the answer:

1)  Generate Ideas

Take the time to look around you and your interactions. What problems are prevalent? What issues do you find irritating? Are there any activities you deem inefficient? Brainstorm on ideas and solutions that address the issues you have identified. Products are usually an answer to an existing problem. Talk to people, conduct surveys and gather as much information about .........