You know that idea that makes you daydream? Who has never had that dream or that special click that can change the lives of everyone around us?

The fact is that there is no point in having an idea and not executing it. Or even, not putting it into practice and living dreaming about what could have happened.

Developing your idea and turning it into a product doesn’t happen overnight.

Even with a lot of effort, dedication and time, planning and a management model will be necessary to successfully develop your product.

Develop your idea

A common mistake made by those starting a project is believing that the idea is ready to take on the world. And that everyone will buy your product or hire the service because it is something very special.

To build a new item, your first step is to conceive and refine the idea.

What will guarantee your success is your ability to execute.

So talk to friends, colleagues, potential clients, investors and anyone else who can collaborate on your project.

Don't be afraid of people stealing your idea, because you will be the one who believes and will turn it into reality.

Innovating has more to do with a routine of activities and planning than with an idea that comes up over coffee or a shower.

Make a business model

Do you know what's more important than turning your ideas into a product? Understand, create and develop your idea into an exclusive opportunity.

The structuring phase of your project into a business model is essential and is related to the activities carried out before developing the product project.

It seems more complicated said than done, but we will help you understand this carefully and create something different in the market.

Through your business planning, new product ideas will be identified, the strategies that will be followed by the products that will be created (commercially, even going beyond the initial idea) and also the management of the entry of these ideas or products into the development funnel .

This will all ensure that the next phase, of investment in prototypes, research and market products, is truly a success.

By creating a complete business model, you will validate your idea and, therefore, accelerate your company, your product and your personal and professional life.

A large portion of Brazilian entrepreneurs believe that the idea they have will guarantee their success. And, just like him, everyone will love and buy his product. But this is wrong!

Don't forget market analysis

More than thinking, you need to be prepared to be a great professional who will be able to get your dream off the ground and sell it.

That’s why the business model makes sense and is essential. After all, what problem do you really solve?

Some business questions are very interesting to answer together, especially when we talk about the market, how about pulling out a piece of paper and putting the answers below on the tip of your pencil?

What is your organization's business and what will it look like in the future?

Who are the customers?

What will they find valuable about the organization, its products and/or services?

What will the company's results be?

Who is interested in achieving this result?

Validate the hypotheses

Being an entrepreneur means believing, but listening to the customer is even better. Before moving forward with your dreams, answer the basic items of your company's planning and, above all, listen to your future customers.

And we're not talking about friends and family, who can be more of a hindrance than a help with opinions that aren't always sincere, but rather those who are going to buy (exchange money for your service or product). By listening and learning you will save time and money in the future, believe me.

No matter how good the idea is, the customer is the one who needs to assimilate it. Surveys, interviews, online forms. Everything can be used, but be aware and apply some methodology to obtain an efficient result.

Take advantage of this beginning to align your project and materialize your dream. Get out of the circle of friends and business circles and understand the pain that your item solves and make your idea the best solution.

If consumers are driven by things like need and desire, be careful to figure out how to activate these elements with your product.

Make an economic-financial viability

Before buying or investing, good companies evaluate the pros and cons of any action that involves money and time. In short: it is a study that evaluates whether or not it is worth starting or investing in something.

But how to achieve economic and financial viability? The process simply involves comparing the financial return against what will be applied. Find out more about this in our economic and financial viability article.

Ignorance of the economic and financial viability of a project is a villain that you create without knowing it. Because no matter how good your idea is and no matter how motivated you are, one mistake here and everything will be going to the end.

You must consider a series of items such as: the time invested by you and other partners or employees. If you plan to borrow money from banks, a business plan with financial projections will be crucial. Because you need to predict income and expenses for the coming years.

In other words, economic and financial viability is a routine and not something you do and forget. If you don't identify the problem and fix it in a timely manner, perhaps the innovation that would save your business is what will end it.

Learn the main economic concepts, such as Net Present Value and the basics of accounting to manage and estimate your commercial performance, such as the return time for each action foreseen in the management model created.

Make an MVP

A smart path is to create a basic product and refine it with a lot of planning. Through continuous testing and validation, your idea becomes a product with A/B testing, offers and marketing listening, as well as a lot of refinement and application of User Experience at launch.

The objective is to have a MVP (Minimum Viable Product) that can materialize your idea and, after that, be scaled for production on a larger scale. Many problems are noticed, corrected and reinvented at this stage.

Product enabled and product launch

When creating your product and making it viable through many methods, something needs to be clear: your solution or product must solve a problem your customer has (and be present in their daily lives), in addition to awakening the desire to consume your idea, now materialized.

In the final stage, that of the viable product, that initial idea becomes a product or service with an objective and estimated return.

Now your company can go out on the market and conquer the world, and finally, all that planning and financial modeling starts to pay off.

So much so that you start to notice and know exactly how much each drop of sweat cost.

After all, you made it all work and your life is now at stake. It is worth highlighting that the main driver of this process was his ability to manage an innovation based on a method!

And therefore, the path is only at the beginning. Seek to refine, remodel, adjust and always reinvent your journey.

Go to the market

With a product made, well structured and organized, it’s time to go to market. Build a “Go To Market” strategy based on your initial interviews and define the initial channels, locations, persona and audience for the products.

The business model will make perfect sense here and should be updated whenever your alignment is evolving. With this, your test is now underway and only well-done planning can indicate its direction.

Always innovate

When in the market, make route adjustments, product corrections and even give up. Or change your company, but never stop innovating, Check out some consequences of leaving innovation aside.

There is an expression called “Pivoting”, which is a change in the business strategy in a non-structural way.

It can be as simple as a part of the commercial flow, to a complete business management model or value proposition.

The term, which comes from the English to pivot and means to change or pivot, is common and can happen when we least expect it, as long as the results do not arrive as planned. Be ready to change, but keep the same foundation.

It is worth highlighting that pivoting is applying and reusing elements in a new strategy, but still with the same idea. Giving up will only mean that you take with you the experience and learning from this failure, but you will stop innovating on that same project.

In short

When having an idea and following a whole flow that goes from conception, understanding, market analysis, innovating will always be in essence solving problems with creativity and a lot of intelligence.

If your idea only addresses part of the problem, ok, it will be like a painkiller that does not provide a cure. Seek to reach the symptom and be the remedy with complete treatment, fully satisfying your client so that they don't remember what it was like before your idea.

Innovation in companies is what generates differentiation in the market. It is very important to have a good strategy for innovation and it must be linked to strategic planning, because as the saying goes: “for those who don't know where they are going, any path will do”.

If people are more willing to value the new and the social value of things, remember to align your innovation and never take what is most important from the center: your customer and their needs.

The most expensive resource is your time and that is very valuable. Understand your goals, organize your routine and don't put off innovating until you have no more time.

It allows entrepreneurs to participate in this journey of innovation and facilitate the search for answers based on important questions such as the market, technology and the finances of their project.

With this, the product project begins with fundamental information for its success, making your dream come true.

If you want to know more about the product development method, contact us, we have engineers specializing in innovation to help you develop your idea!

How can we help you?

We, from 4C Innovation, we are a product development platform that guides companies in implementing a culture of organizational innovation, transforming ideas into products/services with market viability.

O innovation software, the CRD, emerged from MIT's digital transformation concepts, aligned with years of experience in innovation consultancies.

So much so that the end result was an innovation governance tool, used as a means to manage the transformation of ideas into products or services, such as implementing improvements or even analyzing startups.

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