How do you learn everything it takes to launch a successful business if you have never done it before? How much do you do on your own; how much do you leave to fate and how much do you trust to your friends and family in terms of feedback, support and validation?
If you want to be in business AND make money; you leave nothing to chance, no stone unturned and you NEVER rely on friends and family for honest feedback and product viability comments! They love you too much!
The first step in developing your product idea is to research WHO and WHAT you want this product be. What need in the marketplace is it answering? Why is a mom going to reach for your product on the shelf as opposed to the next competing product? This may seem very basic but it is an important step in developing your game plan and entry strategy later on.Let’s say for example, you love to sew and you want to develop a new line of baby bibs. You maybe have a design background or maybe you just think you can do it better. My first question to you as a consultant will be, the why factor?
It makes sense to me that when developing a new concept; you must understand it intrinsically from the ground up. Good ideas are born every day! What makes the difference is WHAT you do with that great idea and how thoroughly you groom and nurture it.
Leah Chevallier, serial entrepreneur in the Juvenile Industry sharing insight, success and 18 years of award winning retail experience! Took $2000 Micro-credit loan and turned it into $30 million!