Enterprise Week: Got a Great Product Idea?

If you’ve had a great idea for a product, watch out for our new series of articles from Sorcit. David Fannin of Sorcit starts this off with his Top 5 Tips for Developing a New Product

1. Research the market well before committing to potentially expensive development costs.
2. Make sure your product has a Unique Selling Point.
3. Where possible ensure you protect the intellectual property of your idea/brandname.  Patent Attorneys are a good source for initial advice.
4. Develop a good working prototype which can be used to sell the idea to potential buyers & investors.  This should be supported with branding, packaging, merchandising and marketing solutions.
5. Where possible try to minimise risk by negotiating smaller production runs to test the market, even if this means paying a higher unit cost in the beginning. 

Don’t know how to bring your idea for a new product to market?

Sorcit specialises in taking individuals ideas and developing them from concept through to manufacture.   David Fannin says, “We are passionate about helping to turn people’s ideas into reality from the product, through to how it is packaged and finally displayed in the stores……the complete end-to-end service.   We don’t charge the high development fees which most design consultancies in UK will do.  For many people this can be a major barrier to actually taking the idea further – we want to remove these barriers to help bring a lot more exciting products to market.”

If you currently have an idea which needs taking further, you might be interested in entering Sorcit’s MUMPRENEUR COMPETITION.   Over the coming months, Sorcit will provide advice on Design, Market Research, Protecting your idea, Prototyping, Manufacture, Quality Control, Shipping/Logistics, Branding and Marketing/Promotion.   In the meantime, why not take a look at www.sorcitproducts.com for more information about their services and to see examples of recent projects.

This entry was posted on Friday, November 20th, 2009 at 9:32 am and is filed under inventing mums, mothers of invention. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.