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What Makes a Great Product?
The slinky, Lego's, the PC, silly putty, weed eaters, Velcro, cell phones, and the microwave, the list of killer products is endless. So how do you go about designing a great product? What makes a product successful? (Believe me, the list of great ideas that never went anywhere is much larger.) I thought I might jot down some pointers on how great products come into existence. The Idea Let's evaluate this for a second: first you need to own a car. That limits the market to Canada, the U.S., and Europe. It has to get cold enough to frost your windows where you live. There goes half the US. You can't afford to park your car in a garage, and that eliminates a bunch of people. Now I figure that Canadians like to scrape, knocking off another large part of the market. So will this idea make me a million? Probably not, if I worked hard enough at it, it might generate a decent income for a short while though. Compare that to the market of the weed eater (string trimmer to be more correct). When George C. Ballas stuck some twine in an old tin can and spun it on his electric drill, he was addressing a need that many a man felt. Not only did it chop those pesky weeds, it involved a motor as well. Here is a picture. His market was anyone that had ever wished for an easier way to trim those hard to reach places in his lawn. To top it off, it also stroked the male ego. I think it had a larger success potential than my defroster idea, don't you? Notice that I said potential. There is a lot more needed to make a product a success. Design Ever since the 1950's, industrial designers have convinced the consumer that you can have a functional product that looks good as well. There are successful ugly products out there, but if they looked good they would be even more successful. Have you ever said, "That's a sweet little package," in reference to something other than the opposite sex? Timing Funding I think that funding is one of the things that stop more great products from coming into being than most other reasons combined. You have to take some type of financial risk. One way is the OPM method: use Other Peoples Money. Unfortunately it takes a smooth talker to get other people to part with their money. So you may have to run up your credit card, or go deep into your savings. There are many ways to get the money, but it will cost money to get your idea to market. Marketing Conclusion
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