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    Startup Your Product Idea
    Startup Your Product Idea
    Startup Your Product Idea
    Ebook122 pages1 hour

    Startup Your Product Idea

    By Matthew Yubas

    4.5/5

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    About this ebook

    This real-world guide shows startup entrepreneurs the tools and techniques to profit from their product ideas. Follow this step-by-step roadmap from product idea to market launch.

    These powerful methods streamline development time and get you ready to successfully launch your product.

    You’ll discover:

    * The roadmap from idea to market
    * Why products fail and why those succeed
    * How to perform market research
    * Where to find free market research sources
    * The methods and steps to plan product development
    * Understanding regulations and certifications such as UL, CSA, and CE
    * The need to perform a freedom to operate search
    * How to create product requirements
    * How to create a project plan
    * How to make your product marketable
    * How to get a physical product manufactured
    * How your customer thinks
    * The customer’s buying process
    * How to position your product compared to the competition
    * How to set pricing for profit
    * How to create a marketing communications plan
    * How to launch a product into the market
    * How to use publicity when launching a product
    * How to get product reviews
    * Small Business considerations for a startup

    The material is clear and concise. There's no fluff, just straight to the point facts.

    LanguageEnglish
    PublisherMatthew Yubas
    Release dateMar 8, 2012
    ISBN9781311817105
    Startup Your Product Idea
    Author

    Matthew Yubas

    Matthew Yubas is a Certified Professional Marketing Consultant for the Small Business Development and International Trade Center. He has developed products for 24 years as an Engineer, Product Manager, and Consultant for startups, small business, and Fortune 500 companies. He has helped clients in a diverse number of industries that include photography equipment, auto accessories, soy candles, children's clothing, sporting goods, digital art, software applications, wireless devices, and home décor. Matthew is the author of several articles, kits, and books including "Product Idea to Product Success" which has been used by inventors, entrepreneurs, colleges, government agencies, and sold into 14 countries. He has been featured on television and radio and has been tapped for his expertise in bringing products to market in many syndicated publications. Matthew earned a B.S. in Engineering from Pennsylvania Spring Garden College in Philadelphia, and an M.B.A. In Management and Marketing from San Diego State University.

    Read more from Matthew Yubas

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      Book preview

      Startup Your Product Idea - Matthew Yubas

      Startup Your Product Idea

      How to Turn a Product Idea into a Market Success

      Published by Broadword Publishing

      166 London Court

      Cardiff, NJ 08234

      www.broadword.com

      Copyright Matt Yubas

      matthewyubas@gmail.com

      For Free Tips, Books, Consulting, and other Services, please visit my website www.ProductCoach.com

      Smashwords Edition

      No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without permission in writing from the publisher.

      This publication is designed to provide accurate and authoritative information with regard to the subject matter covered. It is sold with the understanding that the author and publisher are not engaged in rendering legal, accounting, or other professional service.

      This product is not a substitute for legal advice.

      About the Author

      Matt Yubas is a Certified Professional Marketing Consultant for the Small Business Development and International Trade Center. He has developed and marketed products for over 24 years as an engineer, product manager, and independent consultant for startups, small business, and Fortune 500 companies.

      He has launched new products such as software applications, wireless devices, and websites. In addition, he has helped clients in a diverse number of industries that include photography equipment, auto accessories, soy candles, children's clothing, sporting goods, digital art, and home décor.

      As an entrepreneur, he was a co-founder of a software company that developed one of the first personal information management software products. Matthew earned a B.S. in Engineering from Pennsylvania Spring Garden College in Philadelphia, and an M.B.A. in Management from San Diego State University.

      He is a professional member of the Inventors Forum, Licensing Executives Society, and Product Development & Management Association.

      Welcome

      I’m excited for you! You have a great product that you want to develop and launch into the market. In this guidebook, we’ll cover a wealth of product development and product marketing information that has taken me years to discover through training, trial, and error.

      No matter what your product is, these principals apply. Please follow the step-by-step instructions and you’ll be far ahead of the game to make your product a winner.

      Best Success,

      Matt Yubas

      For Free Tips, Books, Consulting, and other Services, please visit my website: www.ProductCoach.com

      Table of Contents

      World Of Opportunity

      Multiple Strategies to Market Your Product

      Product Failure And Success

      Why Products Fail

      Why Products Succeed

      Research Your Product Market

      Primary and Secondary Market Research

      Market Research Sources

      Focus on Your Product’s Benefits

      Product Startup Market Plan

      Your Future Customer

      Product Positioning

      Pricing for Profit

      Match Your Customer’s Shopping Styles

      Marketing Communications Strategies

      Create a Launch Checklist

      Organize Your Product Plans

      Requirements for Product Features and Functions

      Check for Needed Regulations and Certifications

      Patent Infringement Search and Freedom to Operate

      Manufacturing Your Product

      Organize Your Project Tasks

      Set a Budget

      Develop Now to Make Your Product Marketable

      How Your Customer Thinks

      Create Your Product

      Decide to Make or Buy Product Components

      Create a Bill of Materials

      Determine Level of Product Quality

      Keep User Documentation in Mind

      Patent Marking for New Inventions

      Beta Test Before Production

      Integrated Marketing

      Branding Your Product

      A Marketing Theme to Enhance Branding

      How to Package Your Product

      Launch Your Product

      Announce the Launch with a Press Release

      Create a Product Launch Kit

      Boost Sales with Product Reviews

      Business End Of Your Startup

      Business Entity Types Advantages and Disadvantages

      Sole Proprietorship

      General Partnership

      Limited Liability Partnership

      Corporation

      C–Corporation

      S–Corporation

      Professional Corporation

      Limited Liability Company (LLC)

      Business Startup Checklist

      WORLD OF OPPORTUNITY

      As the products roll down the assembly line, the inspector tests the current batch. At the end of the line, products and documentation slide into the packaging. As one, they are placed neatly into the shipping box. The box is taped, weighed, and positioned onto the pallet.

      From simple novelties to high tech gadgets, ideas are turned into products on a daily basis. Perhaps your creativity will make a difference in my life and the lives of millions of people.

      A win-win situation exists when you help others and at the same time are rewarded for your efforts. When you focus on ways to best serve people, you’re compensated for your labors.

      An invention doesn’t have to be a breakthrough medical device, fire prevention tool, or technological masterpiece. A wonderful and profitable invention may save a person 30 minutes of housework, eliminate the drudgery of a repetitive task, or provide entertainment.

      Possibly the only reason your invention is not moving forward is your lack of knowledge to get into the market. Now you are stuck or uncertain how to proceed. No problem. Help is here. By reading this book, your thinking will change from, How do I do this? to Wow! I now know how to capitalize on the many opportunities waiting for me!

      Multiple Strategies to Market Your Product

      Your product has value just waiting to be unlocked. When you turn your product idea into a finished product there are tons of opportunities waiting for you. With a finished product, you sell direct to customers or through distributors, sales reps, and retailers. The following are options available to you:

      Advertising Specialty – Maybe you’ve seen the pens, calculators, flash drives, and unique products with a company logo? Advertising specialty is a $19 billion industry. Your product as a promotional item is given away by companies to lure prospects and to thank existing customers. This is an opportunity to sell hundreds or thousands of units at a time.

      Amazon – Selling your product on Amazon.com gives you instant credibility and direct access to millions of shoppers in one place. When customers place an order with Amazon, you receive an email notification, and then you ship direct to the customer.

      Auctions – With stiff competition from Amazon, eBay is changing its business model. eBay wants to emphasize more new products for sale via non-bid Buy it Now transactions and eBay Stores. With millions of web visitors per month, eBay and other auction websites position your product in front of a large audience.

      Brokers and Agents – Product brokers and agents have established relationships with retailers and distribution channels. For a commission or flat fee, they put together a deal on your behalf.

      Carts and Kiosks – You’ve likely seen people selling products and services from carts and kiosks. They sell at shopping malls, airports, zoos, theme parks, train stations, sporting events, and elsewhere. With annual retail sales of $12 billion they are a viable distribution channel for your new product.

      Catalogs – Selling products through catalogs accounted for over $400 billion last year. Catalogs sell products via print and online giving you a huge audience and big opportunity.

      Consignment Shops – For a new unproven product, some retailers are willing to sell on consignment as a test. With consignment, you are not paid until a product is sold to a consumer. Consignment shops carry an assortment of products or specialize in certain categories such as automotive, clothing, furniture, gifts, and sporting goods.

      Direct Mail – Even with the internet, direct mail still works. While email often ends up trapped in spam filters, direct mail puts physical product information directly into the home and business.

      Distributors and Wholesalers – You supply the product and the distributor / wholesaler takes inventory, sells to customers (retailers or end-users), and ships the product.

      Fairs – There are nationwide opportunities to sell arts and crafts products at fairs. If you like the free-wheeling gypsy lifestyle, you can take your product on the

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