Regardless of how amazing your idea is or how clear you are on your vision, if your product development process isn’t well thought through or efficient it will leave your business vulnerable to failure. In this post we will guide you through the 5 things you need to know about efficient product development to secure a better chance of success for your business.
Are you focused on what your product is for?
As your product goes from the design to the prototype stage, it will go through an evolution. During this process it is easy to lose sight of its original intention. Staying focused on the intended functionality of your product throughout the design procedure is essential. If your product doesn’t do what you designed it to do in the first place then it will be hard to market and eventually sell.
Are you focused on who your product is for?
The most important person to remember in all areas of business is your ideal client. The purpose of your product should be to solve a problem that your audience is facing. During the development of your product, as you debate alternative materials and drawings you must never forget the people who will be using it. It is these people who will potentially be buying your product so without them you have no business. The ergonomics of your product must be central to all design decisions.
How long will it take?
An efficient product development process has a clear schedule and is able to stick to it. One of the major failures of businesses at the beginning of their journey is the length of time it takes them to get the product to market. The longer it takes the more expensive it becomes and the longer the delay is till the business can actually start making money. The reason it takes many start-ups so long is because they haven’t been through the process before and so each stage is a new learning curve.
How much will it cost?
Spiralling costs at this stage of a business means that when the product finally gets to market the business is already starting on a back foot. Just like any project, without effective management, the costs can get wildly out of control.
How Can You Protect your IP?
A desire to keep an IP (Intellectual Property) safe actually deters some people from seeking help in the product development stage. Before you are at a stage where you are ready to get a patent then it is important to protect your idea. So does this mean that you need to hide away, developing your product in your basement and not show a soul till you are ready to manufacture? No of course not. This in itself will be counter-productive and hinder progress. What it does mean though is that you need to be very careful who you enlist support from.
What Can Nexus Do For You?
Nexus approach our client’s innovative projects with an intelligent engineering system. We have flexible workshop facilities that are easily able to adapt to fit the needs of our clients. With the protection of IP’s in mind, we have designed our working space to be easily sectioned off, this means that each project we work on stays private and only those from within Nexus, who have been directly working with the client are able to have access.
We are experienced and efficient at progressing through the development of your product from your concept to manufacturing and beyond. Access to our skillset, expertise and workshop enables our clients to develop their product on time and on budget.
Tell us about your project and learn about how we can help you get started today at the home of intelligent engineering. Call us on 01353 653 855 or email info@nexus-ie.co.uk
