Is My Product Idea Worth Pursuing?
4 Ideas to Propel You to Creating the Perfect Product
Have you ever had a thought that seemed like pure inspiration? A stroke of genius, perhaps? The running joke is that this always happens in the shower. While this may be true for some, the relaxing nature seems to let the mind think more of creative things. If you do
have an idea, don’t wait, there may be an opening in the market for your idea. Undoubtedly, there will be someone in the near future that will come up with something similar and you won’t be able to receive the reward for the idea. It’s not something to get stressed out about, but it’s also worth looking into. If you’re at square one, here are some ideas to get your brain ticking.
Solve a Problem
Out of nearly seven billion people on the planet, you know better than anyone else what is frustrating about daily life. It could be something simple like pens bleeding through paper, your dishwasher not working properly, or the long wait in the grocery store line. There may not be problems that you can solve readily, but if you’re on the lookout, you’ll surprise yourself with what comes to mind.
Improve a Product
Instead of coming out with a product from whole cloth, maybe your ticket is creating a better
one. Is there an essential household item that is unnecessarily ugly? Maybe with a few tweaks in product design
and functionality, your product can start chipping away or completely replace what is currently available.
What Does the Market Say?
If you have access to an email list of potential customers or website visitors, it is your ticket to getting responses to your product query. Use a small incentive to get them to open your email and take a survey about your idea. There are loads of free softwares out there for creating and distributing surveys. Use their responses and rough gauge whether or not to continue with your idea.
Dive into a Niche
It has been said that the everlasting niches are health, wealth, and relationships. While it may be a losing battle to target one entire niche, you’ll be able to find gaps within the sub niches. For example, let’s look at relationships. There are a lot of people who are divorced and are raising children on their own. What products do these people need, perhaps more than others. How about narrowing it down even further, to single dads. Is there a service that a single dad would need and that you could target? As you work through these niches, you’ll see different demographics that seem small, but are a perfect chance to bring a product to life.
- 19 May 2017