How To Come Up With A Product Idea
So you want to make money from your own business? If you are in business, you are mainly selling a product for a profit. A product could be a physical product, a digital product such as software, an intellectual product such as information, a service, or any number of other things where you exchange something you have for cash. How do you come up with a product idea?
For somebody in tuned, opportunities pass by every day. Mainly you are looking for a problem to be solved, that can be solved by your product. Here are some ideas on where to start.
Something You Know
You can start with your own special knowledge or skills. What do you do now for a job? Are there opportunities for improvement that a product or service could help? Could you use your skill to service your own customers? Think about any opportunities you come up with and make sure that your product idea can be sold for a profit.
Something You Want To Know
If you could not come up with a product idea from something you know, something you want to know may do the trick. Do you want to know more about fishing or hunting? Are you interested in old Victrolas? Do you want to learn more about space exploration? Any interest can turn into some sort of product. You should be prepared to do a lot of research to understand a new area and what kinds of opportunities exist in that area.
Something That Excites You
Do you like race cars or motorcycles? Like the idea of mountain climbing? Many exciting past times have problems that turn into opportunities for new products. You really do not even have to participate in mountain climbing to come up with a product relating to mountain climbing, although it would not hurt. You just need to do your research and see what opportunities exist. Talk with people who drive race cars about their needs if you do not want to do it yourself.
Make sure not to limit yourself, I am sure that other areas excite you. Think through as many as you can, but decide on a specific activity or area before you put time into finding your product idea.
A Random Product Idea Where You See Promise
While being actively engaged in a product area could be important in coming up with a new product idea, getting excited about a product after the fact also happens. Perhaps you stumble upon an opportunity to solve a problem in an area you do not even care about, go with that! For instance, if you come up with a recipe for hot sauce or a new bathroom cleaner. Perhaps you did not even cook or clean before, that is ok. Again, do not limit yourself, just keep your eyes open for opportunities.
Do This Or Do That
Many experts on making money will tell you to do specific things to make money. I prefer to stir your imagination and have you come up with your own ideas. Something that comes out of your own mind will be much more valuable that something I could tell you to do.
Have A Product Idea?
Let us know how you came up with your product idea by commenting.