The Journey From Ideation To Commercialization
Do you know how an innovative product is built? Though you probably have an idea, the product development process can be more complicated than you think.
In fact, the goal of the product development process is to create a new, sustainable product that can withstand multiple market changes and give new clients a sense of value. The right product, while meeting essential consumer needs, does not blindly follow trends, but rather benefits from them.
Below is the product development process from Ideation to Commercialization.
There are three basic categories for business ideas;
New — A new invention or unique business idea. Examples may include the Segway, Virtual Reality and other product inventions. This is the most difficult category for new business ideas. There are few that are true and completely new ideas.
Improvement — Many small businesses sometimes fall into this category. Examples include exterior-express car washes (where you stay in the car), Virgin Airlines, LED lighting, and DisneyLand. You take an existing service or product and you make or deliver it in a better way, either directly or indirectly. For example, you can make it from high quality raw materials, or add value to a product or service by adding additional services or add-ons.
Disruption — A new and revolutionary way of doing something. Examples include Uber, Airbnb, and Amazon. Our modern interconnection which is supported and enabled by the Internet now allows us to completely reinvent, transform and disrupt entire industries. The Internet and other technologies are not the only way to implement a disruptive business idea, but it certainly speeds up our ability to do so.
Golden rules of Ideation
There is no such thing as a bad idea
The key to a good ideation session is to make it easy for everyone in the session to contribute their ideas. The ideation session is not a place for negative comments, for phrases that start with “Yes, but …” and for turning your nose to anyone else’s ideas. At the beginning, they may seem unrelated and irrelevant, but in the end, they will fit together somehow.
Capture everything
To prevent ideas from getting lost, write down every idea. Writing down ideas during a meeting gives you the opportunity to bring these ideas up again.
The hybrid brainstorming sessions
Research has shown that combining the results of group brainstorming sessions can lead to better ideas. The best way to handle a “hybrid brainstorm session” is to do it yourself first and then with a group. The exercise of thinking alone and then bringing a group together to exchange and gather ideas is very rich in the ideation process.
Quantity over quality
It is important to choose the right ideas, but choosing the best ideas should not take place in the ideation process. More quantity gives more effective results.
The ideas generated during this phase are the seeds that will grow into something truly remarkable. The journey from ideation to commercialization may be challenging, but the rewards are well worth it. With the right idea and a dedicated team, we can turn our dreams into reality!
Stay tuned for the next phase of development and commercialization. There’s much more to come, and we’re excited to share it with you!
