EP3. FROM IDEA TO PRODUCTION
HERE’S YOUR PRODUCT DEVELOPMENT CHECKLIST TO GET THE BALL ROLLIN’.
FROM YOUR IDEA TO YOUR FIRST BULK PRODUCTION RUN.
Listen up on the go!
Right here, Right now…
Intro please..
In this episode we’re going through your product development checklist!
All the things that you need to have in place to start developing your dream idea into a real product. This episode is a great one for those who are just starting to think about taking the leap and creating a prototype for their product idea and developing out an initial range.
About this Episode:
Includes designer tips and manufacturing tricks on what you need to get the ball rolling!
It’s designed to be used as a reference list that you can refer to in your product development journey, but more so at the beginning of the process when you are doing it for the first time.
We’ll go through:
What do you need in order to approach a manufacturer?
Have you done all the pre-work before even considering development?
Do you know where to begin? They say just start… but how and where?
THE 5-STAGES TO PRODUCT DEVELOPMENT
MARKET RESEARCH
Does the market need this product?
Is there a purpose for your product idea and range?
Make sure to look up the trademarks and patents related to your brand name
2. PRODUCT RANGING
How many products will be in your initial launched range?
Which products will you choose to range and which colours?
How much money do you have to spend?
What materials will you be using? Get some test swatches, reference samples, and sample packaging
Engage with a product designer to create a design and technical pack
Engage a packaging designer to create the packaging die lines and branded items.
3. PRODUCT SAMPLING
Find your manufacturers - narrow this down to at least two
Pay and order your samples - send the design pack and packaging
Adjust the designs and packaging
Negotiate on cost of the product
Receive the samples and assess the quality and materials
Make comments on the products
3. PRODUCT FORECASTING
Forecast your sales number of units
Do your costings - include shipping, conversion rates, margins, taxes, customs costs
Order your first bulk products!
YOUR PRODUCT DEVELOPMENT CHECKLIST IN 15-STEPS
Do your Market Research
Trademark your brand
Be clear on your Product’s Purpose
Lay out the Development Budget
Spend time on Range Development
Have Material Samples and References
Create a Design Pack and Specifications Sheet
Create the packaging design
Find a minimum of 2 suitable Manufacturers
Ask for Product Samples
Access the quality of the samples in depth
Make comments to the manufacturer
Forecast your sales units
Complete your product costings
Order your first bulk
NEXT EPISODE…
Next episode we’ll be going to the most talked about topic - where the heck do you find a manufacturer? Stay tuned for that goodie!
LINKS AND RESOURCES
Our Facebook Community - The Product Founders Inner Circle
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