It all starts with an idea to create a product; then making the product. The second stage is selling that product (sales and marketing). This is where most businesses have it hard. It is a very important and crucial stage; a stage at which you have an opportunity to connect your product with society.
Here are the components that make a great product
- Honest product
As said above; it begins with an idea for a product; to making that product. That’s how everything starts. Be proud of your ideas.
Of course the product is supposed to serve a specific purpose. The idea is for it to appeal to a certain need/want; that’s to serve as value.
- Cash flow
To make a product normally requires some financial investment. Whether it is to buy material or pay someone to help in making the product.
The pinnacle of it all is financial management. Cash is king. You make, sell and remake. There has to be a profit. There has to be re-investment. This is how growth takes shape.
This is the opportunity to appeal to society. You get a chance to relate your product to a need that which your product meets.
Do not underestimate consumers. They are intelligent. Quality, innovation, respect, value, societal value and creativity appeal to them.
They belong to certain cultures. Appeal to their cultures.
When all else fails; you have to be prepared to try again. Through failure you come up more experienced; meaning you are stronger at the above components. You sharpen all other areas and improve on where you lacked. That’s how products elevate.