What Steps Are Needed to Develop a New Product?

Many of us have ideas and some of us have ideas on a regular basis that we feel we could develop into new products. Although it may seem as if this is a relatively easy thing to do, there are quite a few things that need to be considered when turning a new idea into a product. When you break it down into its basic steps, however, you will find it is much easier to accomplish. Here are a few steps that will be necessary to develop a product that could be a winner.Before a product is developed, you’re going to need to have some type of an idea that can be developed into that product. This may seem like an easy step but in reality, it is something that should not be overlooked. If you were to have a great idea but nobody was interested in the product that came of it, after all, you would likely not see any success. You need to look at the wants and needs of individuals and then think about how you are able to fill those. When you do so, you will find that you are coming up with ideas that are going to be winners in the market.Once you have an idea and are ready to develop it, you need to patent it. This will help to give you the protection that is necessary from anyone who would come out with a product before you. Don’t overlook this vital step, it can make a difference in your success.The next step is to develop the product from the idea. This is something that is going to differ from one idea to another, as some products are going to be physical and others may be electronic. During this development process, you will likely need to talk to many individuals and get proposals so that you can see how much it is going to cost when you take the product to market. You can look at the cost of developing the product and how much is able to be made with it to determine if it should be taken to the next step.Once the product is in hand, it is time to do some advertising. Of course, it’s a good idea if you start the advertising process before the product is in hand but once it is actually tangible, the advertising is going to change directions. Consider the axiom; never put all of your eggs in one basket. This is also true with advertising, as you would want to diversify and test all of the different types of advertising that were available to see what is going to work for you.Finally, make sure that you have all of the promotional materials that are necessary for the introductory marketing of the product. It may be necessary for you to bring other people on board at this point so that it is affordable. What you get to this phase, your product has officially launched and you can begin enjoying the fruits of your labor.

The Ultimate Guide to Finding and Hiring Offshore Development Talent

In the ever-evolving landscape of the digital age, businesses are increasingly turning to offshore development talent to fuel their growth and innovation. Hiring offshore developers can provide a cost-effective and efficient solution to meet the demands of a rapidly changing market. However, navigating the vast pool of global talent can be a daunting task. This ultimate guide is designed to help you seamlessly find and hire the right offshore development talent for your project.

Understanding Offshore Development:

Before diving into the hiring process, it’s crucial to have a solid understanding of offshore development. Offshore development involves outsourcing software development tasks to a team located in a different country. This approach offers various benefits, including cost savings, access to a diverse skill set, and round-the-clock development cycles.

Define Your Project Requirements:

Clearly outline your project requirements before seeking offshore talent. Define the scope, technology stack, and specific skills needed for your project. This will not only help you communicate effectively with potential candidates but also streamline the hiring process.

Research Offshore Development Destinations:

Different countries offer varying levels of expertise, cost-effectiveness, and cultural compatibility. Research offshore development destinations to identify the best fit for your project. Consider factors such as time zone differences, language proficiency, and the overall business environment.

Choose the Right offshore Model:

There are different offshore models, including project-based, dedicated team, and staff augmentation. Assess your project’s needs and select the offshoring model that aligns with your goals and budget.

Identify Reliable Offshore Development Partners:

Look for reputable offshore development partners with a proven track record. Check online reviews, case studies, and testimonials to gauge their reliability. Collaborating with an experienced partner can significantly impact the success of your project.

Conduct Thorough Interviews:

When you’ve shortlisted potential candidates or teams, conduct thorough interviews to assess their technical skills, communication abilities, and cultural fit. Use video calls to bridge the gap and ensure effective communication.

Evaluate Communication Channels:

Effective communication is critical in offshore development. Ensure that your chosen team uses reliable communication channels and project management tools. Regular updates and transparent communication will foster a productive working relationship.

Clarify Legal and Security Concerns:

Address legal and security concerns upfront. Sign a comprehensive contract that outlines project timelines, milestones, and confidentiality agreements. This step is crucial to protect your intellectual property and ensure a smooth collaboration.

Implement Agile Methodologies:

Embrace agile methodologies to enhance project flexibility and responsiveness. Agile frameworks such as Scrum or Kanban can facilitate regular check-ins, adjustments, and quick responses to changing project requirements.

Build a Strong Relationship:

Cultivate a strong relationship with your offshore development team. Regularly check in, provide feedback, and foster a collaborative environment. Building trust and rapport is essential for long-term success.

Conclusion:

Finding and hiring offshore development talent can be a game-changer for your business. By following this ultimate guide, you’ll be well-equipped to navigate the complexities of offshore hiring, ensuring a seamless integration of global talent into your project. Embrace the opportunities that offshore development offers, and propel your business to new heights in the digital era.

3 Mistakes Entrepreneurs Make When They Start to Sell Information Products

Recently, I wrote about the big mistakes entrepreneurs make when they create information products. Unfortunately, there are more mistakes to avoid when starting to sell them! Here are the biggest 3:

1. Your expectations are out of whack with reality. I once had a self development consultant tell me he wanted to sell a million dollars of his $497 product in one year. So I ran the numbers for him on what he would have to do to get that. He got very, very quiet.

Look, I’m all about thinking big. I’ve thought big my entire life. But if you want to do more than simply think big and actually accomplish big things, you need to understand what it takes to get there.

Let me give you a quick example. Let’s say you want to sell one information product a day off your web site. If you have a 1% conversion rate on your sales letter (and that’s not a walk in the park to do, but we’ll start there because the math is easy) that means one out of every 100 people are going to buy your product. To sell one a day, means you need 100 people looking at your sales letter a day. (Note, I don’t mean 100 people looking at your web site a day, I mean 100 people looking at that sales letter a day.) That means you need to get 3,000 visitors to that page a month. And if you’re not getting 3,000 visitors a month, you probably won’t sell an information product a day.

So let’s say you’re this entrepreneur. You just finished your product, you wrote the sales letter and stuck it up on your site and are now sitting back and waiting for the sales to pour in. And instead of getting one sale a day, you’re lucky to get a sale a month. Or every 6 months.

And when this happens, you’re probably feeling very frustrated and discouraged. But you shouldn’t be. Because if you understood how the numbers worked, you would know what was realistic and you would ALSO know what you needed to do in order to sell one a day.

The problem I’ve found is entrepreneurs create their first info product sure this is their ticket to easy wealth. Then, when the days, weeks and months go by and it doesn’t sell, they get frustrated and give up. And giving up is the REAL problem. Not the lack of sales. (Lack of sales CAN be fixed.)

2. You don’t spent the time and energy selling it as you did creating the product. Sending a couple emails to your list is NOT putting a lot of time and energy into selling your product. Or, worse yet, throwing up a sales page and expecting people to flock to it and buy is also not putting enough time and energy into selling it.

Products are great, don’t get me wrong. And while they can be passive income, what they mostly are is leveraged income. Making sales every day from your site is NOT magic. Nor is it an accident. It’s a combination of doing the right marketing tasks to drive warm visitors to your site, collecting their contact information, and starting a relationship with them with an ezine or some other communications. It’s about doing visibility activities. It’s about doing product launches to up your visibility and take your marketing to another level.

When you do all these things, you find your overall sales go up. And when you promote a product specifically, sales spike further.

3. You give up. I can’t tell you how many entrepreneurs I run into who have unrealistic expectations about selling their product, and then do little to no promoting or marketing of their product, and then give up because they don’t sell any. They incorrectly assume there’s a problem with their business, their clients, the product, themselves, etc., when it’s a problem with their marketing.

Before you decide there’s something more drastically wrong, make sure you understand the numbers and the marketing. Only then can you make a determination if there’s a deeper problem then simply bad marketing.