3 Do’s and Don’ts When Creating Your Signature Product
Vision Coach Alicia George
How long have you been knowing that you have a great product idea that you could bring to the market? How long have you known that your idea could be a possible solution to a problem or fill a void? Maybe you’ve known for weeks, months or maybe even years but you’ve allowed distractions or fear to stop you from moving forward. Well, I can definitely relate because I had been working in the beauty industry for about 15 years before I decided to launch my signature product.
I would go in to work, day in and day out, inhaling these chemicals from the nail polishes and at the end of the day I would wonder why I had this nauseous feeling. It took me a minute to realize that it was the fumes that were making me nauseous everyday. Once I figured out that the nail polishes were making me sick, I wondered if there were nail polishes that did not have all of the chemicals and fumes that caused this nauseous feeling. I would go through the daily rituals of being at the nail shop, inhaling all of these chemicals and then wondering if this was what my life had come to. I knew that there had to be a better way. I started to look at some alternatives because I was once a vegetarian for many years. I thought about how I could make my nails become vegetarian. So I did some research and found a company to fulfil my vision in 2010.
I launched my signature product called Tropical Treats Nail Polish after finally believing in myself and realizing that other people were waiting on my solution. I was so proud of myself because not only were they vegan, I went to my roots of the Caribbean and chose fruits and flowers as names for each polish making them an all around, natural concept. Always remember that when creating a product, you are creating a product as a solution to someone else’s needs or to solve a problem.
So let’s be real. You have watched others create and launch a product and you have stood by wishing it was your turn, right? Well now is the time for you to step out and make it your turn. It’s time to release all of your fears and distractions. It’s time to arm yourself with the right tools and knowledge that will place you amongst those who can sit back and watch the sales and the revenue build. It is your time so let’s make it happen.
Your dream does not have to pass you by. Wake up and let's discover the 3 Do’s and Don’ts that you would need to be aware of when creating your signature product. They will be a roadmap to take you from Start to Finish of your signature product.
WHAT TO DO
1.Define your problem
What problem will you solve by developing your product? No, I am serious, what is the problem your product will address in the marketplace? Don’t do it because it is cute. Do it because it is necessary or because it will add value to something that already exists . It doesn't matter how shiny in your mind your product is if it does not solve the pain that your customers have. Don’t transition to product development just for the sake of doing it. The result is that often people find themselves in a situation when the product is not selling to give up and throw in the towel.
2. Research the need for your product
The first thing that you will have to remember is that each product has its own identity, design, strategy and launch. Product strategy can be considered as some kind of art combining vision and goal of the project. Productivity and functionality can be hard and complicated. But if all the ingredients are added in the right amount, the final results will be amazing and very rewarding. Everyone has a product within them, some visible and some invisible.
3. Be realistic about what product development entails
However, there’s a magical art to a product’s design that needs to revolve around the end users . All aspects of the product development and production process, from idea to identify, create, and launch needs to be focused on the end user. A great product is the company’s greatest asset. No amount of ads, marketing and PR can help if your product is poorly produced and just simply bad. You can create the best stories in the world and put in as much funding as you want to but it just won’t work.
WHAT NOT TO DO
1. Don’t have an unrealistic expectation about the product's development. It takes time and money. Rushing to produce a product without counting the cost and looking at the quality can lead to a compromised product, therefore creating a disaster.
2. Watch out for expensive taste on a low budget. Clients may want to develop the best product without considering the work and financial limitations. Make a decision of what your investment in the product development will be based on the cash and resources that are available or set aside for the project. You can consider to initially introduce to the market a minimal version of the product to start to generate revenue and additional features can be added later.
3. Don’t start with just a good idea to launch a successful product. Please do not confuse a good idea with a good product. We often create a product with the illusion that we just need to come up with a good idea and everything will fall into place. To be honest with you, it takes more than that, unfortunately. A good idea is not always a good product. Don’t start production until you have done some research.
Creating your signature product should be one of the most fulfilling and rewarding investments that you will ever make. Just knowing that you have done the research to create something that will ultimately change the lives of others, should be all the more motivation needed to launch this product. Always remember to have fun and be creative when developing your signature product but also reflect on your potential clients pain. People are waiting on your solution to their problem. How long are you going to make them wait?
Facebook: AMG Boss Business Coaching
YouTube: Listen and Learn