New product development
New product development is exciting and crucial to a company’s future. It requires a very substantial commitment of time and money. And yet, so many get it wrong, ending up with uncompetitive and uninspiring ‘me too’ products.
A common mistake is to build on what you already have. On the surface, this seems to make sense, why re-invent the wheel? Why not improve on an already successful product?
Because no matter how much you improve, your new product is still seen as an improvement, not something new, exciting and worth a substantial investment.
Real product innovation is hard, but I can help you.
I have defined and led the development of dozens of products, most of them have become major commercial successes and some have even won awards.
Now you too can benefit from my knowledge and experience of the market, the technologies available and the product opportunities that they bring.
Analysis of existing product portfolios
When you have been in business for a while, you will have built up a decent portfolio of products.
Some of those products sell quite well.
Other has become big hits for you.
And then there are some products that just don’t move at all.
Do you know why?
It is not always obvious and sometimes the slow moving products are the ones that have the biggest potential for the future, but you’ve not been able to see it or to unlock it.
I can take a fresh look at your product portfolio in relation to what is happening in the market. Help you identify strengths, weaknesses, threats and opportunities.
Selection of technologies
Very few companies can afford to have someone looking at new technologies on a regular basis. This is usually only happening in very large companies.
The need to see “what’s out there” becomes an urgent priority just as a new product is about to be defined and developed and all your resources are tied up.
How do you know which type of technology to use? The same one as the last time? The one your main competitor just started using?
One of my regular activities is to keep myself well informed about new technologies and how they can benefit new products, enabling better and more cost effective solutions. I keep in regular contact with many suppliers all around the world and I also evaluate new parts as they become available.
Selection of development partners
Once you have clearly defined your new product and chosen the right technologies, you need to get it designed and built.
Do you have right people and the right skill sets in place?
If your product development requires external support, I can suggest suitable partners, companies and individuals of a high calibre that can accelerate your development towards a successful market introduction.
Having developed a great new product, how do you make sure that potential buyers and influencers gets to hear about it? New products enter the market every day, fighting hard for the prospective buyers attention and money.
Need to convince a potential business partner or financier about supporting your new venture? They have heard it all before, how do you make them take notice and get on board with you?
Successful communication starts with a strong and clear message, you need create interest to learn more about it within the first few sentences.
I can help you with this.
I have created presentations that have helped secure funding for major projects and technology development efforts.
I have written dozens of technology articles published in international trade magazines and I have been complemented on my ability to explain technical subjects in a way that non-technologists can understand and enjoy reading.