Understanding a Product-Based Business Model

As you mull over how to get your product to market, there are five basic categories of tasks you can follow to develop your product from start to finish. These are the steps to creating your first viable product or service that customers will pay for, and should be thought of as an iterative cycle in which you will continually improve your product.

In this topic, we will address each of these parts and provide templates to help you get started on creating a sample product for your business that will lead you to your first sale! Designing and building the right products well let you focus on other aspects of your business like pricing, positioning, and delivery to the customer.

• Design: Learn about prototyping and interating to best product possible

• Make: Learn what you consider before selecting a manufacturer

• Price: Understand the basics to price your product and make a profit

• Sell: Create a sales plan, define how you will collect and process payments

• Deliver: Learn about different delivery options and select a couple for your business

• Improve: Make your product better - before and after starting your business!