Anatomy of a Product: From an Idea to Reality

What does it take to turn an idea into a product? How can I realize financial gain from my idea? Where do I start? These and many other questions swirl around would-be inventors and entrepreneurs as they seek to bring new products and services to market. The process can seem daunting for anyone making a first attempt and confronting the typical hurdles and roadblocks the marketplace utilizes to cull the field.I look at hundreds of products each year and have done so for almost 30 years. The ideas that succeed invariably consist of the same basic elements.One, an entrepreneur with passion, a realistic view of the opportunity they have created and a flexible attitude to the inevitable critique and changes the original concept will undergo. The world is full of dreamers. Successful entrepreneurs work non-stop in pursuit of their well-designed goals.Two, a new product or service concept that fills an identifiable market niche. The niche can be a completely new product category (think Windows, XM Radio, E-Bay) or a small piece of a vast, mature market segment (Sam Adams Beer, Coach, George Foreman Grille). The Unique Selling Proposition is the element that enables the product to be positioned as an advance, offering different, improved features and benefits. The world doesn’t need another mousetrap, unless, you can prove a method to catch more mice.Three, before running off to a Patent Attorney, display or discuss the opportunity with family, friend’s, co-workers you trust. Would they buy if available? How much would they pay? What don’t they like about the widget? Any improvements they might suggest? This is a form of micro-test market. Also, search the inter-net, United States Patent and Trademark Office, visit stores and diligently study the competition. If you feel confident that the market is not offering anything like your concept then you potentially have a significant commercial opportunity and should seek copyright, patent and trademark advice.There are many ways to proceed. You can attempt to self-market your idea. There are numerous reputable consulting firms that can offer comprehensive services. Many colleges and state and local governments offer small business incubators and can be an excellent resource. A caution, though. The late night infomercial selling patent services that will make you rich is always a fraud. Ask for references and products currently on the market as proof that you are dealing with professionals, not charlatans.The hardest question for many inventors to confront: How to harvest financial benefits from their invention? Licensing, self-marketing the product, funding, partnership, strategic alliance or outright sale of the opportunity are among the options to be considered. Typically, the inventors background, experience, interest and financial realities make the choice more obvious. It is usually good to have professional guidance when weighing appropriate strategies for harvesting income from a project.A working model or a production quality prototype of the piece will be essential in researching manufacturing, costing production and for presentations. Do not cut corners here. Be as professional and thorough as possible in displaying the unique performance benefits and features of the product. You only get one chance to make a strong first impression.A customized Business Plan or Offering Document will be crucial in successfully presenting the product for consideration. Decision-makers typically see many, many products each year. You need to stand out and that requires an exciting plan. Do not buy a Business Plan template off of the inter-net and fill in the blanks. It will not be read. Make the document as exciting as your product.The steps reviewed above typically result in a thinning of the new product herd. In order to successfully place a service or product in this very aggressive, cluttered marketplace no shortcuts are tolerated. Inventors, entrepreneurs and small businesses are an amazing breed and a valued national asset. The wealth created and generated by this group of idea pioneers is the American economic difference maker. There has never been a greater time or place to launch that needed new product, and the rewards have never been greater.

Online Product Promotion Strategy For Small Businesses

Here we will discuss about some effective online Product Promotion Strategies for small businesses. Whenever a small business outfit launches a new product with a nice web page, the first thing to do is to get your page indexed in the major search engines. If you have a new website, the best method will be publish some articles at leading article directories.

Most article directories do not allow direct product promotion but you can do it in an informative way which is acceptable to them. There are hundreds of such article directories and you can promote your business in all of them. Write some informative articles about your new product and get them online on all the directories. This way you get thousands of link quickly. Imagine you write 10 articles and submit each one of them to 100 sites, you will get 1000 high quality links to your product page in no time. Very soon, you will see your product getting good rankings in the major search engines.

Now this product promotion strategy for your small business isn’t easy if you do it manually. There is a way to do this automatically. Write highly informative articles and use the article submitter software to submit to lots of sites. This saves you time and money.

Now you have thousands of web pages talking about your newly launched product so definitely your product ranking will shoot up. Many affluent bloggers will be talking about it. Video marketers will consider promoting your product. But all this is possible only after you get the initial word out about your newly launched business service, online product or website. You can use the keyword research tools to find the right keywords for getting targeted traffic.

Article marketing is a great way of promoting your business, online service or a newly setup website. Its great for small businesses as its cost effective and guarantees quick results in the form of high traffic, good rankings and sales. It creates a big buzz about your product all over the web world.

Don’t Make These Mistakes When You Launch an Internet Marketing Business

Starting your own internet marketing business is not the same as starting an offline business. You need to be ready for the fact that businesses online operate differently than businesses offline. There are lots of people that love the idea of building an Internet based business and that’s a good thing! Unfortunately, plenty of these same people don’t understand just how much work needs to be done first. If you truly want to earn a living online, you need to keep reading to learn about three common mistakes that you need to avoid making.

Most importantly, make sure that you do not start the wrong internet marketing business. This means that every day the internet changes and there are always new opportunities. What worked for people five years ago aren’t going to have the same success today. You need to go with the flow and design your business model based on what’s working now, and what’s in demand now. In addition to that, any business needs to be started with the goal of earning money instead of just spending money. So, before you jump on to any business model, it is vital that you recognize its suitability (or unsuitability as the case may be). Do some research and interact with other people in that business before you make your decision. Steer clear of marketing methods that aren’t producing results, they are nothing but a waste of time. The goal here is to have a great launch with techniques that will get you results you want. Optimize your site, joint ventures are a great idea, pay per click ads work too but avoid those old methods that won’t work today.

Finally, it is a huge mistake not to learn about your target market. It is almost impossible to launch a business online without understanding anything about your target market. You need to understand your target market inside and out. There is no doubt that you will fail if you don’t put some real effort into learning everything you can about your future customers. You can’t build successful products if you don’t know who you will sell them to.

In conclusion, this article clearly shows you that, if you want to stand out from all of the rest of the competition, your very best chance of doing this is to stay away from the business mistakes that we have talked about here. These are really simple mistakes that you can easily take care of if you create a strong plan of action and actually act on it. Remember, nothing will ever help you more than persistence; that is the real secret to your success. So go ahead and start your internet marketing business and be ready to overcome the hurdles that come your way.