Bringing a product to life can be a daunting process. It can be challenging figuring out all the logistics, processes and systems that it takes to create a product and bring it to market. With a healthy combination of passion, market research and understanding the industry, you’ll be on your way to creating a successful business, product and brand.
As the founder of Nitwits and head of Research and Development for health, beauty and personal care product company, Sue Ismiel and Daughters, my main inspiration stemmed from when I realised the amount of trouble parents were having with treating head lice. It was a challenge in itself getting my daughter to sit still for two minutes, coupled with the need to comb out every single egg from her long, tangled hair, and then having to repeat the same, tedious process in seven days’ time. It was not an experience I wanted to go through again and I thought there had to be an easier way to treat lice and make it a less demanding experience for kids and their parents. It was my frustration with this process that made me realise there was a gap in the market for a head lice product that was easy to use, but also gentle on little heads, prompting me to develop my first product Nitwits All-In-One.
These are top tips on how to find a gap in the market and bring a product to life:
1. You have to have passion
Having a driving force and sense of motivation is key to success when bringing a product to market. How can you expect your product or business to succeed if you don’t even believe in or love what you are creating yourself?
It’s important to remember that when creating something new, there are always going to be obstacles. Having drive allows you to persevere through any difficult challenges which may be thrown your way.
On this note, resilience is also a major part of creating a long lasting business. Having the strength to be your own advocate is one of the most important things I’ve learnt. Being a busy mum, of course, I had my own thoughts of self-doubt regarding time and work life balance, yet I had to remind myself of why I started and I had to back myself.
A prime example of an obstacle is copycats recreating your product. When competitors see that you’re onto a good thing, they will try to emulate it. At times I felt discouraged by this because I had put so many hours into creating my desired formula. This was a time when I had to back myself. Instead of focusing on the negative, I viewed this as a positive. Healthy competition is great for keeping you on your toes and is a great motivator in encouraging yourself and your business to continuously innovate to stay relevant.
2. Conduct some market research:
Although market research may seem overwhelming at first, it is essential in developing a deep understanding about your targeted consumer and industry. Treat market research as your best friend. Extensive research allows you to find a specific target audience, whilst at the same time, examines your competition and already existing products and businesses in the market.
Understanding the consumer:
The core goal of market research is to understand the wants and needs of the consumer. Having a deep understanding about consumer attitudes and behaviors allows you, as a businesswoman, to create a thriving product and/or business that are tailored and relevant. If you don’t understand the consumer, how will your business be a success?
Understanding the industry:
Research into the industry allows you to analyse the competitive landscape, making sure that your product or business has a distinct point of difference. I highly recommend sitting down and asking yourself, ‘What can my product or business offer which nobody else’s can?’ Answering this question is extremely important because having a point of difference from your competitors is the only thing that allows your business to stand out, no matter how large your competition may be.
3. There’s no ‘right time’ to start a business:
It is vital to understand that there is never going to be the perfect time for you to start your business. As a businesswomen and mother of three young kids, I completely understand that having a demanding schedule can cause you to delay the process of bringing a product to life. Not to mention, taking a leap into the unknown is always going to be frightening at first.
Over seven years ago, I had the realisation that there is no ‘right time’ and built up the confidence to contact a leading entomologist in the UK. My advice is to get started and to start small. Don’t let yourself get in the way of creating something great. Within the process of creating something new, never let mistakes get you down. Train yourself to view them as learning experiences.
