Whether you realize it or not, everyone has had a great idea at least once in their lifetime. For some people, it’s a social media site that connects everyone in the world. For others, it may just be a simple life-hack that makes it easier to pack a suitcase. Whatever it is, all products start as a simple idea.
However, while all products may start as an idea, it’s important to realize that not all ideas will turn into a product. In fact, an entrepreneur may have the most desirable idea in the entire world, but it won’t mean anything if they can’t figure out a way to turn it into a tangible product that people will buy.
Whether you are a struggling entrepreneur who cannot figure out why sales are stagnant, or someone who is sitting on a gold mine without knowing it, here are some ways to help you determine if you have a product or an idea.
Are Others In Need Of The Product?
Remember that life-hack that was mentioned earlier? Maybe it’s an idea that you have that is perfect for your home due to the way your staircase is designed or because of it’s layout. Now you need to consider whether that same idea would be feasible for everyone else’s household as well.
The point here to consider is that you may have the perfect idea to fix a specific flaw, but it may not be something that you can turn into a tangible product. However, if it’s something that others do need, then it opens the doors for potential success.
Have You Created A Mockup Or Template Design?
You’ll want to ensure that you are protected before you go around showing everyone your great idea. Even your friends and family may start to get a bit greedy if your idea is a life-changer, and having a mockup of the initial idea or design will help protect yourself against any concerns. In addition, a physical mockup or a template design will help to show others just how much of a difference your product will make on their lives.
What Else Is Already Out There?
There are plenty of ways to make money by piggybacking off the success of others,but it’s also important to avoid over-flooding the market. You may have the perfect idea to improve an already existing product, making its use even better. However, you’ll want to avoid pushing things that have already been done repeatedly. Keep in mind that you cannot reinvent the wheel and putting money into an idea that tries to do so would likely not result in a positive investment.
There are plenty of great ideas out there. For anyone who thinks that all the good ones have already been taken, those are the type of people who will never benefit from an innovative and creative mindset. But if you truly want to be successful, it’s going to take much more than innovation and creativity. Instead, consider these tips for determining whether you have just an idea or an actual product, and then figure out how to make the most of what you have.