Tips to Get Your Product to Market Faster
Do you have an innovative idea you want to bring to the market? Have you heard it takes a long time to make this happen? While there is some truth to this, there are tips that can help speed up the process and give it the best chance of success.
Create a Culture of Innovation
The day-to-day process involved with “putting out fires” at work may quickly eliminate good intentions with company culture. The process to launch a new product is a stressful and exciting time. This means you have to ensure there’s a systematic process in place for rewarding company risk and keeping a steady flow of ideas coming in. One option is to keep the technology within your organization by learning what is available through an MBD publication.
Partner with Smaller Suppliers
The biggest suppliers out there aren’t going to offer you new technological breakthroughs. In most cases, disruption is going to come from the smaller suppliers you may have never heard of that have logos you don’t recognize. Keep in mind though, when working with smaller suppliers, your expectations need to be adjusted, as they may not have the timelines and capabilities of the bigger service providers out there.
Where is Innovation Needed?
It’s only exciting to have a new technology if you can ensure they are going to see the light of day and make it to the customer’s hands. You need to be able to recognize when you should invest in a new product and when you should re-purpose something that’s already gained success. A good example of this is with the iPhone – it just keeps getting better.
As you can see, there are several things you can do to help get your product to market faster. Keep this in mind to ensure your product has the best chance of success.