Opinions expressed by Entrepreneur contributors are their own.
Key Takeaways To successfully turn your idea into a market-ready product, you must define a clear vision, build a small but mighty MVP and craft a purpose-driven brand.
Then, you’ll need to distribute your product. Choose the best sales channel for you, ensure a well-executed supply chain and support your launch with strong marketing and PR.
Remember that flexibility is key to a successful business. Regularly reevaluate your work and find ways to improve your product once it finds its footing.
Every successful entrepreneur knows that a big, bold idea is just the beginning. That inspiration sparks the transformation of an idea into a product that solves a real customer need. The road to the final product won’t always be smooth, but maintaining a clear vision through the twists and turns of launching a product is essential. You’ll need a healthy dose of creativity, adaptability and strategic planning along the way.
Over the years, I’ve launched products in a wide range of categories, from fashion to wellness tinctures and nearly everything in between. I’ve spent years going through trial and error, making critical mistakes and finding luck as I’ve launched many different products. And with time, I’ve refined my go-to-market process.
But how exactly does this process work? Through developing multiple businesses and products, I’ve learned that bringing a product to market presents its own unique set of challenges and opportunities. Here are the five steps you can take to navigate turning your vision into a business reality.
1. Define a clear vision
For all the nitty-gritty intricacies of product manufacturing or logistics, shaping your idea is often the most challenging part. Consider the following questions:
Who is your target audience?
... continue reading