fbpx

LETS GET DOWN TO BUSINESS.

Question :
How can I progress my new product developed to the next level hopefully to eventual commercialization and or sales? Or do I indeed have a commercially viable product?. I have a video sample that I am about to show hopefully interested parties but wish to gain your experts advice as to what they think, first. I have a small business and as to uncertainty as to a result of Covid,  am trying to diversify into other business ventures. RegardsBrent 

Question submitted 10/09/20 @ 11:29am
Industry: Start-ups
63
VIEW
0
VOTE
  • Hi Brent well done on considering diversifying and lowering your risk.

    NPD is a tough one – how do you take a project far enough that you have certainty about the potential demand – but not so far you have committed money to something that isn’t going to fly? Some suggestions;
    – share your concept – in writing including who will buy, why, features, benefits, cost, etc with as many people as you can – a trusted customer, friends you can trust for an honest answer, reach out to some one who works in an adjacent sector and ask for feedback.
    – take that feedback and go further optomsie your product, ensuring you can follow through to commercialization (actually make it for the right price!)and then do a low resolution prototype if that is possible. then put it in front of more potential customers.
    By that stage you should have some robust feedback that will help you work out whether more time and investment in the project is likely to pay off.
    Good luck! Vicky

    Kia ora Brent,
    Some useful advice from Vicky – and all power to you for wanting to have a go. There’s quite a bit to consider in any kind of new product development / commercialisation roadmap and it’ll depend on a number of factors. I can’t really make any specific recommendations without understanding more – but I’m happy to talk through and brainstorm some ideas with you. You’ll find me easily via LinkedIn. We can then circle back and post another response here to make it useful for others. Sound good?
    Kia kaha!
    -Peter

  • You must be logged in to reply to this topic.