What You Need to Know Before You Start a Product Based Business

All successful product based businesses start with a simple but good idea. The problem is that having your new product idea isn’t enough. Many never see the light of day because the process of bringing the product to market is more complex than people anticipate. So before you take the plunge we aim to guide you through everything you need to know so you can make your abstract idea a real product that your customers want to buy. Design and Development Once you have a great idea, you have to firstly make sure that you protect it. Turning your concept into a profit involves making sure that it remains yours to sell. If you plan to work with a manufacturer be careful to select one that is able to offer protection which also includes keeping your work separate from their other customers. Once you have secured the safety of your idea, you can move onto the design and prototype stage. If you don’t get this right it can prove fatal down the line. An essential element in this process is the URS (User Requirement Specification) which requires a comprehensive understanding of the purpose of your product and how it will be physically used. The URS is a document that is used throughout the design and manufacturing process, specifically through the evaluation of the prototype. The prototype should go through other rigorous testing procedures ideally by a trained and experienced engineer to ensure that the product does what it is required to do and is also compliant with safety legislation. A structured process needs to be in place to ensure that the product is optimised for efficient manufacturing. It is also essential at this stage to ensure a system is in place that can track all components so that you have a complete traceable audit. Build Your Assembly Line To actually get your designed built requires partnership (unless of course you plan on converting your garage into an assembly line) A huge benefit of working with a manufacturing company is that they have the expertise and experience of taking products to market. A good one will be able to offer insights into materials, automation, processes and electrical schematics and more. They will have purpose built facilities which are able to adapt to meet the needs of your product and create an efficient and cost effective assembly line providing a high quality end result. ISO 9001 Compliant If you operate in a highly regulated market then tractability and full transparency is expected at all times. This can be a tricky process so make sure you work with a company that is able to pin point with any single product when and how it was built and where each component came from. Shipping and Delivery Once your product is ready to hit the shops (online or offline), you need to consider the practicalities of shipping and delivery, especially if you want to sell to a global market. With all the time and resources spent on creating the perfect product, damage through the shipping process would be disappointing for your customers and devastating for you. On-going Support and maintenance The process does not end just because the product is ready for sale. Continued installation, training, maintenance and support are required to ensure the product continues to meet the changing needs of your customers and is able to develop based on feedback and technological advances. Find the Right Support If you have an idea for a technology enabled product then here at Nexus IE we have more than 20 years’ experience in developing, manufacturing, maintaining and servicing products for tech companies and we can help you. Contact us for more details.

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