3 Ways to Identify When a Product Is Not Worth Developing
Many product developers and wannabe entrepreneurs spend tons of time, resources and energy on products that turn out to be failures. New products do not become a success for various reasons. More often than not, however, products do not make it to the market successfully not because of bad design or functionality but because of a simple lack of market demand. Product designers, developers and inventors can save a lot of headache by doing initial market research to find key market information that can help them decide if moving forward with their product idea is worth it or not. Here are 3 ways to identify when a product is not worth developing.
1. Is the product addressing a real challenge?
There are many seemingly great product ideas but no product is worth spending much time on if it does not meet an actual need or solve a real problem. A product innovator should find out if their idea addresses a real challenge before they spend too much time and resources on developing it. If a product does not solve a pain point, then it might be best to move on and not spend too much time on bringing it to market.
2. Do you know how to solve an actual problem with the product in mind?
Even if one confirms that a product idea could potentially solve an actual problem, an idea in itself does not present a solution. The right product design, functionality, features and production would determine if the product will be suited well to actually address a problem. Product developers and designers should identify if their product meets necessary standards to solve a challenge or meet a need through its design and functionality.
3. Are your ideal clients willing and able to pay for your product?
This is a crucial question as one might present a great product that meets an actual need but if potential clients do not have the ability AND willingness to pay for the product, then the product just remains a good idea on the shelf without a successful launch to market.
Take the time to research these 3 questions before spending energy and resources on any product idea, no matter how great it might seem at first. Knowing when a product idea is not worth developing will free up time to focus on other ideas that might be worth pursuing.