Whether you’re a budding entrepreneur or an established business, launching a new product is both exciting and challenging. While your status in the marketplace, your standing as a business, and even your reasons for launching a new product may be different, the principles underpinning how to make a product successful are often the same.
When you have a new product idea that you’ve been mulling over for months or years — mentally designing it, tweaking concepts, playing with features and functions, and perfecting your vision — you’re ready to jump right into it when you make the entrepreneurial leap to making your product a reality. Working off all those built-up ideas — and passion — can be a big help in making your first product-development experience comparatively easy.
Product prototyping is a key component of the new product development process, but it’s much more than something that you just “should do.” It’s intended to move the manufacturing process forward, improve the product, and ensure that your concept meets its full potential. If you go through the prototyping process without gaining greater insight into your product and how best to manufacture it, it’s difficult to call that process “prototyping” at all. In that situation, it’s just a box to be checked off, at the expense of your valuable time and money, with no return on your investment.