Products do not just come out of thin air. A process has to be followed in order for consumers to obtain the product that they need or want. It is important for you to understand the product manufacturing process if you have a business idea that you want to convert into a viable product for sale.
1. The Business Idea
All products start with a business idea. What is yours?
You need to identify a need in the market and come up with an idea of how to meet that need. Make sure that you do your market research properly. The business idea that you come up with can be a tangible product, a service, or software that will meet the needs of the potential consumers.
2. The Invention/Prototype
Once you have come up with the perfect business idea, you need to come up with a rough draft or design of your solution. It can be something as simple as a drawing or a basic prototype of what you want to sell. It just needs to be clear enough to make sense to the potential business partners that you intend to work with.
It is always a good idea for you to obtain a patent to protect your business idea or prototype. That way, if someone attempts to steal it, you will be able to seek legal recourse.
3. The Business Partners
If you intend to become your own product manufacturer, you still need to identify the potential financiers, distributors, and retailers who will agree to stock your product on a trial basis. Most of them will require you to show them how your invention will bring in the money.
If you intend to outsource the product manufacturing aspect of your business, you need to identify the manufacturers who will help you create your product. You will have to show them your design, and find out whether they are in a position to produce it.
The manufacturer that you select needs to have the production capabilities that you require and should have a reputation of being reliable. The cost of production should also be low enough to allow you to make significant profits in the long term, in order to sustain your business. Also, make sure that there is a comprehensive contract in place.
4. The Testing/Refining
You cannot mass-produce and sell products that you have not tested. That is a very bad business move.
Once you have decided on your manufacturing options, you need to come up with a working prototype. You can then select a testing panel consisting of people who make up your target market. Let them try out your prototype. The aim of the testing stage is to identity the weaknesses in your prototype.
You should refine your prototype based on the feedback that you obtain from your testing panel. This needs to go on until you have solved most of the problems that keep on cropping up.
5. Mass Production
Mass-producing your product can only begin after most of the problems affecting your prototype have been sorted out. Even then, you should produce limited stock that can then be sold on a trial basis. Be sure to do your part to market the product to your target consumers.
Working with the right business partners and marketing your product will contribute greatly to increased demand for it. If the product demand rises, you can then proceed to mass-produce your products on a larger scale.
The groundwork that you do during the product manufacturing process can make or break your business. Take time therefore, to ensure that all your ducks are in a row before launching your business products.