Launching a new, physical product is definitely challenging. You probably know there are a lot of obstacles to bringing a new product to market, but what are they exactly? And more importantly, how do you overcome them?
In this article, I’ll share with you various ways to surpass the biggest obstacles in your path to market.
Product development
Developing a physical product requires various fields of engineering. This is especially true for complex tech products. Most entrepreneurs don’t have the necessary skills to develop a new physical product. And, in fact, it’s extremely rare for one person to have all of the skills needed. Creating a new hardware product will likely require a small team of product developers.
Fortunately, new product entrepreneurs have a valuable resource that wasn’t available in the past: freelancers. The freelancer economy is huge and rapidly growing. As of 2018, there are approximately 59.7 million people doing freelance work in the U.S. alone, and it is projected that by 2027, freelancing will make up more than 50 percent of the total U.S. workforce.
With those numbers, it’s safe to say you have an entire world of experienced professionals at your disposal.
Related: 10 Tips for Landing a Product Licensing Deal
Prototyping
It’s always best to start off with the cheapest and simplest method for prototyping a new product.
