Every day around the world hundreds of people have those ‘eureka’ moments when an idea clicks and a new product concept is born.

1. What Entrepreneurs Need To Know When Launching A
New Product

2. Every day around the world hundreds of people have those ‘eureka’ moments
when an idea clicks and a new product concept is born
But how do you achieve success with your product?
Here are five tips that could help you turn your new product idea into a triumph.

3. Get Support Early
#1
 Get support early to benefit from specialist expertise
throughout the product journey.
 Seeking help later in the process often means
backtracking and addressing issues that could have been
resolved earlier.

4. Make A Plan
#2
 Map out your product’s journey from the point you’re at
now to launch day and keep the schedule.
 Be realistic about the time it will take and consult with
3rd parties to ensure you know how much time they
need
 Remember that a setback at one stage of the product
journey could have knock on effect further down the
line.

5. Know Your Numbers
#3
 Do you know how much it will cost to get your
product to market?
 Is your selling price realistic, is it priced with
enough margin to allow some profits to be
reinvested back into the business?
 Be realistic and do the math now so you know
exactly what your spending is, sales targets and
expected returns.

6. Don’t Take Your Foot Off
The Accelerator
#4
 Once you’ve launched your new product –
innovate and stay ahead of the game
 Don’t be tempted to sit back

7. #5
• “A common reason that products fail to reach market
is because the financials and the marketing have not
been properly explored or employed”

8. #Pro Tip
• Make sure that you’re the one to
take your product to the next level,
not a competitor!