How to Come Up With A Winning Product Idea Every Time
Coming up with a winning product idea every time is no accident. You need to make sure you’re using the right method to come up with your ideas so that you can be sure they are worth pursuing. Below, you’ll find a few ideas that will help you out.
Take A Close Look At Your Old Ideas
Start by taking a closer look at your old ideas - you never know, there might be something there you haven’t made use of yet. You could blend the old and the new, or you could modernize an old idea. You might even realize you overlooked a winner in favor of something else. Keep a list of your ideas somewhere safe.
Brainstorming can help you to get everything out of your brain and onto paper. Get as many ideas as you can out of your head - you could even get a partner and bounce ideas off each other. Set a timer for a sense of urgency if you dare! You could easily come up with 20 new ideas this way, and then you can explore them more in detail to see which ones are worth pursuing.
Come Up With Add Ons To Past Products
If you don’t have a brand new idea, why not come up with an idea to improve your best selling products? You can do this by coming up with something that compliments them. Add ons can be great ideas too!
Find Problems Worth Solving
Finding problems worth solving is how you really come up with a fantastic idea. What problems do you encounter every day? What problems do the people you know encounter? Can you come up with solutions to these problems? This is a really simple way to come up with a great idea. Just make sure you read through the american trademark guide to ensure nobody steals your great idea before it’s set in motion.
Interview 10-20 Potential Customers
By interviewing potential customers, you can answer the question: is this a problem worth solving? Before you spend any money developing your product, interview potential customers so they understand the problem you’re attempting to solve - this is before you tell them about the features, pricing, or even how it’ll change their lives.
These are best carried out in person and should be up to 60 minutes in length. Remember, a problem needs to be high on a customer’s priority list if they are going to be interested. Many entrepreneurs start off by talking about a description of the product and features, however, it’s usually more effective if you understand the problem thoroughly to make sure the product as a whole doesn't miss the mark.
Ask the following questions to determine whether the problem is important enough to solve:
How much money will be made/saved with the solving of this problem?
Where is the problem on your priority list?
What is most frustrating about your current solution?