RealTalkAJ

I’ll be explaining how to create a product from scratch.

How to create a product from scratch

• ideation
• research
• planning
• prototyping
• sourcing
• costing
• launch

It all starts with an idea

Strong product ideas actually what stems from your personal experience and research things that you’ve done on your own.

So one of the more recent examples is one that I created today.

It teaches someone about trading in the foreign exchange market or otherwise known as Forex and it actually came about from unintentionally getting in early on a trade that I planned on placing however, I was assured that the set up I created is profitable and I was able to see that it just didn’t actually go through on a preset standard.

The point is, however, is I realized that I have a method that can now be monetized and from that is a product that I actually plan on launching and you’re going to be able to see this happen in real time.

And you’re going to see that this is something that is worth developing when you also see that other people are profiting off an idea as well.

So you can create something that’s similar in nature, but then it comes down to the product and packaging of whatever the service is.

It gets validated just through the popularity of the product, how much is it actually talked about and mentioned by other people and if it’s something that’s familiar, does it get results?

These are different things that you would be asking yourself and if you can answer them, you will notice that it validates what it is that you’re looking to possibly promote.

Doing the research on your market

These are questions you have to ask yourself and solve before you move forward with your idea. This places yourself in a great position to know the audience that you’re going to be talking to. Understanding this makes yourself a plug in the sense that you’re gonna always have an understanding with what your prospects are gonna need. Your product is supposed to solve a problem, and if you can speak their language by getting straight to whatever the issue is, you’re gonna be understood better every time you speak to them. It’s valuable information that makes every step you take worth the effort.

The evidence that reveals itself with whether the product’s gonna sell or not is through the activity in areas that support itself. So that would be related markets and industries that show people are buying everything except one thing, and that’s your product. If money’s flowing in the direction of where your product’s placed, you’re gonna get a piece of that pie inevitably.

Your existing competitors are another source for reference when you’re trying to get a better idea on if what you’re trying to push will actually bring value to the market. So understanding whether they’re getting sales and if people are satisfied with what they’re getting from them will also help you understand if your efforts will be worth it.

Making a plan to produce and create

Making a plan to produce and create your product is the actual building period. This is where you’re gonna start putting pencil to paper and actually sketch out the design for what your product’s gonna look like. You’re gonna find out what it looks like at step 1—all the way to the last one

There’s tools and such that you can utilize to begin this process if you’re not an artist in the sense of materializing whatever your thoughts are. If it’s a physical object, you have digital software that can create off the simple input of a prompt that describes it in the most detailed way possible. It’s likely that this is the step where you’re gonna go through the most editing in order to get things the way you want it to actually look.

It’s not gonna be perfected just yet, but if you have something to present to others, it’s an amazing start for getting where you want to be.

Prototyping the creation you made

Protyping the creation that you make is one of the heaviest editing portions of what it is that you are creating at this point There’s a unique difference between this and the last step and where the previous one, you will be looking for feedback mainly from your inner circle. And these are going to be the people that will keep whatever it is that your design is top secret in a way. They’re not going to be going out and sharing and telling everybody else about what it is that you’re creating or how it looks and from that you will be taking in their advice and moving accordingly.
But however, with the prototyping portion, this is where your framework’s already made and you have a stronger than general idea of what it is that you are going to be mass producing and sharing with your audience. At this stage, you will be sharing it with the outside world and getting opinions and feedback from people that might not know you personally, but they are aware with what you are going for. And from them, they will be giving you the feedback that you’re going to either make readjustments for or disregard them and move forward with whatever it is that the design is, you will be mainly seventy to eight percent done with whatever it is that you’re going to release at this point, but you’re going to also be open to making minor tweaks and adjustments before you sit comfortably with this final creation.

Sourcing the best way to mass produce your materials

Sourcing the best way to mass produce your materials is the next step and your product creation process. And what this entails is what production method is going to be the most logical way about getting your product made in bulk. You’re going to take into account different factors such as the cost, quality, and even speed for what it takes to actually make this.
And this is still considered research in a way that you’re going to be shopping around at this point and looking for different vendors or anybody that has a piece of what it takes to create your entire product. You’re going to be going over figuring out whether you have to operate out of a warehouse or if you can do this from home anywhere that you can really get busy and put your head down to create exponentially and with this is just a more patient step and you’re not going to go with the first client that’s offering you work to help you create what it is that you’re trying to make. You might find things that you like that they do, and you’re going to have to take that into account and note before you make a commitment and actually decide to go through them.
And it’s important to realize this process because when you get started, you’re going to want to continue going to whoever it is that gets you what material that you are operating with. They’re going to be the price that you’re going to take an account for what it takes to make your product every day or week or month, however it is that you choose to release your product and uh there’s usually incentives with sticking with a specific vendor because you already earn their business, they already earned yours and you haven an agreement. So it ends up being a mutually beneficial commitment that’s being made because you’re going to be earning them money as well as what they will be doing for you.
If you can continuously predict what your costs are going to be every time you make it, you’re able to play around with the numbers and understand what it’s going to take to reach certain profit goals as well.

Taking into account the costs to do business

The costs for what it takes to do business is yet another part of the product launch because it steers the direction for a few factors that determines your motivation and that of your customers.

You’re not gonna continue putting money into your product if it doesn’t actually make money that turns into profit and the customer won’t purchase if they feel what you’re offering is overpriced.

This is a moment where you have to be willing to either bite the bullet in some areas or remain firm in your position on what you believe. There’s things that we mentioned before such as material costs that will influence who you’re going to go to in order to produce or run the operation to continue doing it.

You may find out that what you’re spending isn’t worth the amount of work it takes to make your product.

Launching the product to finally be released

Now we’re at the launching process of your product’s success! This is the point where you can make it an extravagant event. That can include:

• Demo Events
• Networking opportunities
• Showcasing

From a marketing perspective, this also becomes your content that you’re gonna be able to leverage your brand in.

This is where you can also get creative with creating excitement for a strong start with generating revenue.

Your success in this area doesn’t always equate to money earned though. You can define your win by what’s valued most.

This is the backbone of your business’s existence. If you take this opportunity to connect better with your customers.