Lori Greiner (you can read about her here: https://lorigreiner.com/about-lori/) in her book entitled “Invent It, Sell It, Bank It!” gives a checklist to check when you are planning to launch a new product. She lists more than ten points (factors) that affect the success of a product.
L. Greiner encourages to check if the product:
- is functional
- solves a problem
- is unique
- people want or need it
- you can demonstrate it
- you can sell it at a reasonable price in relation to its value
- it will convince the mass customer
- it does not have many rivals
- it is a consumer good
- you can present it in a few short sentences
- you have a patent or patents on it
L. Greiner gives a hint: if the product meets the criteria above, i.e. at least eight of the above factors, it has a chance of success.
That’s all for today. Dare to live. It’s YOUR life.
Dariusz Łukasik (daretolive72)