(This is a contributed post)
Having an amazing idea for a product or business can be incredible, and extremely exciting. However, if you don’t know what to do with it then you may end up feeling lost and frustrated. All kinds of people are starting businesses these days, so why shouldn’t you? In this short post, we’re going to tell you what to do if you have an idea for an awesome product
One of the first things you need to do with your idea is figure out who it is for, and why it’s so great. What sort of problem does your amazing business idea solve? It might solve a problem for you, but this doesn’t necessarily mean it’s solving a problem for others.
Your idea may be so good that it’s already a business. You need to make sure you’re well aware of any competition you may have, so that you can research them and differentiate yourself. You don’t need to reinvent the wheel, but you do need to figure out how you’re going to set yourselves apart from other businesses.
When you have a good idea of who your business is for and how you’ll differentiate, talking to potential customers is key to ensuring your idea is viable.
The infographic below will help you to figure out how the marketplace affects product development, so take a look.
credit to University of Alabama Birmingham