Category Archives: Blog

The Complete Process of New Product Development

The process of taking a product or service from conception to market is known as new product development (NPD). It outlines a series of stages that new products typically go through, beginning with ideation and concept generation and ending with the product’s market introduction. Depending on the nature of the business, some of the stages […]

Importance of Innovation In Your Business

What Is Innovation? An innovation is an idea that has been transformed into practical reality. It can be anything new – or different – that changes the game for YOUR company, filling an untapped customer need and building a new market. Innovation does not always imply the creation of something new: innovators frequently improve, change, […]

Continuous Process Improvement and Eliminating Waste Through Lean Manufacturing

The term “lean manufacturing systems” refers to the most recent manufacturing methods that maximize value while minimizing waste. It is designed to improve any company’s manufacturing line with a strong emphasis on waste reduction or elimination. When wastes are reduced, the quality of the products or services improves, so do the production time and cost […]

Why Innovation Is Important In Entrepreneurship

Creativity is what distinguishes a business from its competitors. Competition may kill the business, but if it’s innovative enough, then it will have an edge to survive and stand out.  Innovation is a creative process.  It stretches the imagination and offers limitless possibilities. A simple idea can turn into an endless source of income. As […]

How Will You Develop A New Product

The decision to develop a new product can be an extremely difficult process for many businesses.  Many sectors have failed with the failure rate reaching as high as 90%. Truthfully, there is really no secret to developing winning products. Follow these steps to perfect your product development process: 1. Generate and Screen Ideas Idea generation […]

Will Your Business Idea Work?

How do you determine whether your business succeeds or fails? By doing a research project. You will need to adequately research the validity of your business plan. It can be difficult to gauge what “adequate” really means. Here’s a checklist of some elements that any sufficient business research will contain: Market Research – It may be surprising, but many entrepreneurs […]

Ensure Your Company’s Success Through Research and Development

Businesses often employ Research and Development (R&D) to determine the consumers’ degree of acceptance of a new product. The reason behind this is the fact that launching a new product without a real demand would mean more costs than actual market research. Additionally, a failed product launch is not only damaging for a company’s finances but […]

Gauge The Success of Your Product With SMART KPIs

If you don’t know where you’re going, then its leading you nowhere. The same applies to an effective product development. As an entrepreneur, you need to know how to measure your overall success. This is where Product KPIs are vital. If you are managing a team, there is a good chance you may have heard […]

How To Get On Track With Your Long-Term Goals

Goals are of vital importance in our lives. By setting goals, we can focus our lives and advance confidently in a definite direction. In business, a goal describes what a company hopes to accomplish or where it hopes to be at a specific future date. When a company sets goals, it makes its priorities clear for everyone involved […]

Competitive Strategy: How To Get Better Than Your Opponents

We have seen a lot of organizations who mull and watch as their business transforms into a zero-profit condition while their competitors appear to flourish. Why is this so? Just take a look at your business and try to answer these questions: ✅ What does my company do better than anyone else? ✅ What unique value […]

Product Launch: Go or No-Go?

Are you struggling with product decisions? Do you need to figure out if that great idea you are passionate about could become a successful business? A feasibility study will let you make an informed “go” versus “no-go” decision. It acts as a screening test for your business idea and can help determine if your idea […]

How Rapidly Do You Want Your Business To Grow?

As a business owner, you should know the importance of growing your business. Growth is absolutely essential for any company because without it, operations will stagnate. Your brand should also be able to keep up with the ever-changing demands of consumers. Aside from this, you need to be on par or exceed whatever your competitors […]

How Customer’s Needs Impact Your New Product Success

Every product or service has a purpose. One of the reasons why customers buy a product or service is because of its benefits. Either it solves their problem or meet their needs. Features can also be a valuable factor but only if it can provide benefits. By highlighting your product benefits and features,  you can […]

What Steps Are You Taking To Achieve Your Goals

Goals are achieved through effort. Each of us have our own goals in life. But who among us have thought about writing them down? Analysts tracked down that 90% of us never set goals. Of the 10% who really do, only about 3% have really thought of writing them down. Believe it or not, but […]

How Solving A Problem Can Create Business Opportunity?

Use Creativity To Explore Opportunities As long as consumers have problems, they will always search for solutions. They will consistently search for better, quicker and more intelligent approaches to achieve everyday tasks. Fortunately for entrepreneurs, there are still plenty of room for upgrades in existing products. The greatest challenge for most innovators however, is tracking down […]

Save Time By Setting Your Priorities

Are you struggling with what to prioritize in your business (or life)? With a thousand things any one of us can do in any given moment, how do you prioritize what to do next? Being able to set priorities is the key to getting organized and making the most of your time.  Just like when you […]

Six Tips To Help You Choose A Winning Business Idea

If you want to start a new business, you’ll need to devote some time to refining your idea. Becoming able to work on something that interests you and that you are enthusiastic about is one of the most appealing aspects of being an entrepreneur. Unfortunately, this enthusiasm does not necessarily equate to success. To be […]

How To Know If Your Business Idea Is Viable?

When you’re starting your own business, there’s no guarantee that it is going to survive, especially in today’s fast-paced business world. Nearly half of all small businesses fail within the first two years of operation. There can only be two reasons for business failure: first is inadequate planning and secondly, under-capitalization. So before you go […]

Is NPD Process Really Needed?

New products, whether or not they take the shape of new applications, new innovations, or entirely new goods, are critical factors to the success of a business. The concept of new product development process is to provide new value to the customer.  It’s what keeps the company growing.  Your business needs to engage in the […]