If you’re developing a new product, we encourage you to do the necessary background work before you invest time and money in designing it. Persevere, ask questions, talk to the experts … great products take time, effort, and determination to develop! Here’s a summary of seven key questions to ask before you head down the product development path:
- Do you have a product development process? Decide on a product development process to use and follow it. A solid process will improve the design of your product, ensure it meets market needs and requirements, and reduce the time and cost of development.
- Have you done your homework? You must understand your customer—know their requirements inside out before you start the design phase. Then, you will have the information you need to differentiate your product in the market, extend it’s life, and command higher margins.
- Who is in your value chain? Define everyone who has a vested interest in your product and get to know them…engage with them, understand them. They may hold the key you need for a revolutionary product!
- Are the product requirements documented? A clear, concise design brief (or product specification) will ensure all stakeholders are pulling in the same direction: it helps ensure the goals are clear, keeps the program on track, and the team focused.
- Are you fostering innovation? Developing and maintaining a positive team environment will foster innovation.
- Are you leveraging technology? Make the most of the technology and experts available to you. It’s not always practical to have the tools and expertise in house—consider outsourcing and benefit from the technology and Caliber experts without incurring high overhead costs!
- Are you taking a sustainable approach? Think about how your product will impact on the environment throughout it’s life cycle and plan to leave the smallest footprint possible.
INNOVATE OR DIE!