When it comes to inspiration in the world of product development, it seems like the best sources are successful businesses that worked their way to the top. A lot of these businesses have surprisingly started on a TV show that on average has 4.4 million viewers an episode- Shark Tank. Here are a few popular products that you have probably seen in stores or even use them yourself that you probably didn’t know started on Shark Tank.
During everyone’s quarantine period this past year, it’s safe to say there were more TV shows being consumed than in past years. Among those were popular reality entrepreneurial shows such as Shark Tank and The Profit, as well as scripted entrepreneurial shows like Dragon’s Den, Silicon Valley and StartUp. In a time where a lot of Americans were tight on money due to lack of hours at work or even losing their jobs, I found it interesting that views on shows about entrepreneurship were spiking in views.
Product development is going to include all of the steps needed for you to go from “I have a great idea,” to “I invented ‘xyz’ product you see in stores.” However, there are a lot of factors that go into this process, and it can be very easy to let excitement get you into the process when you should maybe consider waiting a bit longer.
Industrial robots were once strictly limited in mobility and functionality. However, recent innovations in robotic technology have paved the way for more agile and practical robots used alongside human personnel in industrial facilities. These machines are known as collaborative robots—or cobots—and promise a number of advantages over traditional manufacturing robots.
Beta testing is a critical step to achieve a successful product launch. Many businesses perform it by sponsoring a limited release of their product to either a specific demographic or the general public and then seeking feedback from participants.
[Read more…] about Beta Testing Products: An Introductory Guide | Validate Your Business Idea
Venture capital allows entrepreneurs to put their plans into action by providing much needed capital for their business. However, a lot of the success in wooing investors stems from creating a compelling prototype, and a sub-par model can spell the doom of an idea no matter how innovative it may be.