Anyone can come up with a great idea but the challenge is in bringing that idea to market. How many times have you had a killer concept only to have that idea for a product or business fizzle out because you didn’t know what to do next? Well have no fear MogulGrind is here! Here are 5 steps to help you come closer to realizing your dream.
- Create a prototype – So you don’t know how to create a website, mobile app, or have a clue of where to source products for your store? Below are a list of sites that can get you started. You can develop a prototype for less money than you think. Some of the sites below allow you to post your budget and have vendors bid on your project (you’ll be able to see what you can get for the price that you set. Pretty cool).
- Rent-a-Coder – Need an App or Website built? Here you can post your project and have developers bid on it.
- Fiverr – Graphic design, Virtual Personal Assistant, etc. This is a large market for all types of business services. Jobs start at $5.
- Alibaba – Marketplace to source goods and manufacture products from vendors from across the globe.
- Shopify – Easy to use templates to create your online store. The MogulGrind shop is powered by shopify check it out. (Pardon the shameless plug.)
2. Now that you have a product, you can conduct a soft launch. Run the concept/prototype by a 100 or so people gather their feedback and refine the product or service based on the market’s response.
3. Create your business entity (LLC, S-Corp, Corp, etc)
- LegalZoom – Facilitates the creation and registration of your business with Uncle Sam.
4. Seek investors or partners/co-founders if necessary
- AngelList – Startups can submit their pitch to a community of investors (who knows you might get lucky!).
- GoFundMe – Website that facilitates the raising of capital for ventures
- Fundable – Another valuable fund raising platform
5. Launch – Let the world know about your product.
- Social Media – Pick the appropriate channel and see if you can gain interest in your product through your posts.
- Facebook/Instagram Ads – Allows you to set your own budget.
- Adwords online advertising – Also gives you the ability to set your own budget.
6. Analyze the results, refine your product and marketing.
- Google Analytics – This enables you to analyze traffic to your website. You can use this information to better tailor your message and engage with your audience.
These are just a few tactics and tools that you can employ to move your product from the idea phase to the launch phase. Hope you found this helpful. What are some of the products, tools, services you’ve used to bring your ideas to the market?
Great infographic via Anna Vital
Cheers to greater success!