Product Innovation

Invent a New Product

Beta Testing

Tips for Successful New Product Testing

Business e-Coach   Success 360   Emfographics

Vadim Kotelnikov, founder of 1000ventures - personal logo    Kore 10 Tips    One World, One Way, icon, logo 

 

Paul Sloane, the author of The Leader's Guide To Lateral Thinking

 

 "Nothing turns a concept into reality faster than a prototype." ~ Paul Sloane

 

 

Customer-driven Innovation

Innoball  >>  Benefits

Analyze but not for long. Think through the idea, plan it and then launch it. Do not undertake massive surveys and market studies. They can be misleading, and the market is changing rapidly. Do not fall into the 'paralysis by analysis' trap where nothing is done for months except studies and spreadsheets.  >>>

Test market the idea with some key customers or in a chosen region. Do it for real but on a small scale.  >>>

Call it a 'pilot'. It is often easier to get permission and budget for a 'pilot' than for a major new initiative, so call it a pilot.  >>>

Experiment and Adapt. Carefully analyze customer reactions and feedback. Adapt and improve the idea.  >>>

Don't get overexcited and don't bet the farm on the new idea even if initial reactions are good.  >>>   Learning SWOT Questions

Fallback Plan. Always have a fallback plan. If it does not work cut your losses. Learn the lessons and move on. Don't flog the idea to death trying to force it to work. Try something new>>>

New Product Development: 10 Best Practices Download PowerPoint presentation, pdf e-book