Tuesday, June 18, 2024
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Product Development for Home-Based Businesses

Developing products can be a challenge in the home based business environment. Where do you go for a laboratory to create and test new product lines? Where do you turn for new packaging and marketing? Where do you turn for help?

You’re there. YOU are the crack team, as Donald Trump says. So forget about looking around. You’re it. Here’s what to do for your own product development.

First find a need. You want sales, so find something people want. How? Communication is the key. Ask your friends, your contacts, your business associates, your clients.

See what they could use to make their lives easier. Poll them, survey them, email them, call them.

Post questions on forums and chat rooms. Be like televisions Lieutenant Colombo (or the original Pink Panther) and enjoy the search, but don’t give up until you get your answers.

Second, get organized NOW, if you aren’t already. Take good notes as you go along. Keep organized, well-labeled computer and print folders and files in handy places. Use an organizer with a calendar if you need to.

Third, create a product based around the need you discovered above. No need to be Einstein or invent the wheel.

Search and find others in the industry to help and see how others did their product creation before you. Then copy their methods not exactly, but rather similarly follow in their footsteps.

I.E. read trade journals, search the Internet, review archived magazine articles, ask your local librarian to help you and research how to get your idea off the ground based upon how others have done it in the past.

Then team up, share ideas, share resources, share marketing funds and share revenue, etc. with those experienced. Reach out and don’t be afraid to find help and share. No need to go it alone or be greedy.

Third, along the way, get legal or other authoritative help as needed. Start with the Small Business Administration and find out if you need special permits, licensing, fees, contracts, legal structure, etc. Comparison shop, if possible, and get set up properly.

Fourth, there are plenty of ideas to go around. After one success, you can move on and duplicate it again and again. Do it.

And give back to the community. Help others get their businesses established and growing.

In summary, product creation can be challenging. But the results can be so rewarding. So take the plunge and forge ahead!

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