Creating a Novel Product  !  

Prakash Mugali

Founder & CEO - Enerzi Group | Serial Entrepreneur | Startup Coach | Pro-MMA Athlete | TEDx Speaker

How do you build a world-class product or a service offering? How do you see your customers delight ?

Spot a Problem

It all starts with a problem. Yes ! Spot a problem that appeals to you; that touches your heart ! Assess the impact the problem has and also the impact solving this problem will have.

Research Well
Speak to your customers, many of them, and dive deep into the problem to understand it thoroughly. This may require you to meet them, visit the problem area and experience the problem yourself to empathise with your customer.

Define Clearly
Come back to the drawing board and summarise your understanding of the problem. This, my dear innovators, is the problem definition as it exists and not your assumptions.

Conceive an apt Solution
Now Think of multiple ways in which you can solve the problem. Brain storm and spell out all possible alternative solutions without any bias.

Make a Blueprint
Choose the solution that fits best to solve the problem you defined. Visualise the outline, the skeleton the features and the functions to complete the picture of your This picture is your product or Your Service. Create the detailing and get the blueprint ready.

Validate the Blueprint
Now go back and correlate this blue print with the problem description you defined earlier. If you are convinced that you are inline with the customer expectations, go ahead and build the prototype or pilot version of your service.

Build the and Launch
Now go to the customer again and show them the product to know where you stand. Did we meet their expectations? Ask them. Most possibly the customers will love it. If not repeat the cycle to refine your product. And if they do love it you are in business ! Go and launch it !

All the best my dear Innovators, turning into Entrepreneurs !

Product Development is a Process of Creating ; the more you are connected with your customers, the more impactful the product is going to be. 

Originally published May 2, 2019