Looking for Product development recommendations ? The goal is for your product to become popular so people will buy it. That means it’s going to have to compete in a competitive market environment. It’s very rare for a product to succeed as a jack of all trades. To corner a niche of the market, you want to focus on a single consumer need and you want to offer the best way for consumers to satisfy it. Don’t try to design a product that can do everything. Design a product that can do one thing the best. If your product already exists — that is, it’s not a brand new invention — a focus group can be great. But if it’s a non-existent product, a focus group is not a good way to gather information. Instead, you need to conduct user-experience research.
Customer feedback will be invaluable to you as an entrepreneur. In fact, it’s also extremely valuable to well-established businesses with well-known products for sale. At the end of the day, the idea is to satisfy a need for consumers. Their feedback – good or bad – can be extremely valuable. An entrepreneur need not give up on something if customer feedback is bad, but rather, take that negative information and apply it to help improve their existing idea or product. Nothing is impossible. Travis Lubinsky tells Forbes.com entrepreneurs must invest the time in analyzing the market before heading to work on a product. “There is nothing worse than spending your time and resources on developing a product that has no demand,” Lubinsky says. Read more details at Product design and development.
Making decisions around these concepts will ultimately inform the process of creating each specific brand element such as your logo, website, social media pages, signage and/or packaging. Prioritize brand elements most important to your key customer base. Keep in mind that just because the typical startup template dictates getting a logo, website and business cards first, that may not make sense for every type of business. And because time is literally money when you’re an entrepreneur starting out, you need to focus first and foremost on the touchpoints that have the capacity to drive revenue and sales. While nearly every company needs a basic logo and some sort of web presence, it could be that your Instagram page or even Linkedin profile supercede the need for a full-blown website in the first six months out of the gate if these are where your customers are most likely to find and vet you. Or perhaps business cards are “nice to have,” rather than a “must”, at least at the beginning. Choose and prioritize according to your needs rather than tradition.
Start-Up trick of the day : Learn from criticism: Relentless negativity is of no use to you, but thoughtful criticism can be very valuable. Any opportunity to improve an aspect of your business should be warmly welcomed. Challenge conventional wisdom: Learn to spot when helpful advice is merely a suggestion to conform to the popular paradigm of the times. Source: https://www.petermanfirm.com/.