8 tips on how create innovative and successful

products

Excerpt from Tiisetso Maloma’s (book) ‘Forget The Business Plan Use This Short

Model’

This post is an excerpt from my book ‘Forget The Business Plan Use This Short Model’.

It all starts with an idea to create a product; then making the product.

1. It has to serve an identifiable purpose(s) or deliver value to consumers

Consumers buy products for absolute purposes that the products will serve. Be it even that the product brings joy to

them, or tickles their fancy.

2. It has to be of better value from your competition, in the eye of consumers

It could be the price, feature or design difference. A cheaper product may be the reason for consumers to buy your product

and not the competition’s.

3. Deliver efficiency

Your clientele has to be better off with your product. They must be glad they possess your product. It should make a better difference in their lives

somehow.

4. Easily defined products and product features

This helps consumers readily identify what your product will do for them.

It is also a quick way to close a sale. This is your product’s hook.

5. Good quality, good after sales service and maintenance

This is how you protect your product’s use, in that it’s always in use and serving its purpose.

This is also how you maximise

the value of your business brand.

6. Well branded product

You need a logo. A logo is a sharp and distinctive mark which says “I made this product, this product of such stature”.

Your product’s packaging is crucial; it should communicate a

psychology that captures consumers.

7. Don’t take forever building your product

Things change, people change, relevance changes

Say you take time loading

features onto your product, and then release the product into the market, the market will give you feedback on what to tweak.

It would take more time to tweak and return the product to the market than if you had less features.

8. Protect product use value through innovation and consistent enhancement

Everything changes, competition gets tougher and piracy take course.

Your duty is to then give

customers a reason to continue buying, thefore innovate.

The role of a business is to make money everyday (or year) if possible and keep making it.

Release products that the same consumer who bought the first product can buy, so as to

keep making money. But be very careful not to totally take the crap out of the previous product.

This was an excerpt from my book ‘Forget The Business Plan Use This Short Model’. The book points out what is important and crucial for an entrepreneur to concentrate on. A

shorter and efficient business plan format.

Here is my book on business modelling [avail at Amazon and Kobobooks.com]

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