Creating Your Business Product
Once you have an idea for a product, you must create the product. This sounds simple enough! Yet, there are complications. If your product is a manufactured product, will you do the manufacturing yourself, or will you outsource it to another company? What engineering skills will be required within your company?
Let's assume you wish to develop a software product. No factories required! But, how much investment in time and talent will be required to create the product? Many start-up companies have no product, only an idea. Creating the initial product will take some serious effort. Does your product have enough potential to attract investors? How much money will be required to finance construction of your product's first version?
Other issues, such as how you will protect your product from competition are among other concerns. Can you patent or copyright your product? How will you monitor quality control?
To sell a product, you will first need to create one.