Especially in a competitive market, it is essential to seek out new methods of differentiating a product. How can you modify and transform your product so that you positively stand out from all of the “me-too products” that today’s busy market is compiled of? Innovation is your key to success!
Did you know that it is estimated that China creates 500 new millionaires every day?!
This is because many are jumping on the “me-too product” bandwagon.
How can you be unique and make your mark through product innovation?
- Come up with an idea
Most successful entrepreneurs innovate products around a passion of theirs whether it is fashion, fitness, or even a specific occupation. Your passion can be your first clue!
- Begin researching other similar products on the market
How can you mold your idea to create different and better results for people, compared to the results that people encounter from competitor products?
- Time to bring your product to life
Draw out your design so that you can analyze and evaluate a visual, to then influence further changes. From there you can continue with the production of a prototype.
Remember, it is of the utmost importance to focus on the customer. You can have an amazing product of untouchable quality, but what you truly need are people to rally on your side and believe in you and your product.
Be open-minded during the product development process so that you can create a product that is remarkable and satisfies the customer. Don’t even be frightened to launch a product simply to gather data. Learning leads to experience, which leads to confidence!
So what are some specific ways to get eyes on your product? To dive deeper into this topic of product innovation and have a better understanding of its importance in society today, listen to this full session above!