This Is How To Have A Successful Product

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To create and sell products successfully is far more complicated than most people think. In fact, there are many factors to consider, from the product itself to broader issues such as your marketing and customer service. Happily, you can get the scoop on the most crucial ones in our post below.

Product development, lots of it.

No idea for a product leaves the inventor’s mind fully formed. In fact, there is a great deal of value in doing detailed and focused product development that allows you to refine and better shape your offerings to the market that you want to buy them.

Research and development is crucial for a successful product

Therefore, do not shy away from formal product development before you even consider launching your business or brand. Also be sure to do thorough market research to gauge how your iterations fair on the market. Something that should help you to decide whether this version is good enough to go out there and represent your company’s brand on a permanent business.

Use the best components and processes.

Once you have a financial product agree on, it’s vital that you take the same time and care in replicating this item for your customers as you did in developing it in the first place.

Of course, this means sourcing the best quality components like the electret microphones, that are made by reputable companies and come in many different specifications. It is also crucial that you ensure the manufacturing process for your product is top notch as well, not only because if it isn’t it could cost your business additional money, but also because poor manufacture will result in a substandard product. Something that certainly won’t please customers, have them coming back for more, or enhance your brand!

Brilliant customer service.

Now, once you product units are ready to ship, you may think its almost all over, but really the whole process has only just begun. In fact, once customers start to buy your items, you will need to offer them stellar customer service both regarding the buying process, and the with the follow-up help and support you provide as well.

What this means is that not only does your website have to be easy to use and easy on the eye, but you also need to be as available for customer questions, support, and the resolution of issues as much as possible.

One way to do this is to invest in a more substantial social media presence, where you have people on hand at all time to search for comments and complaints online. They can then answer and resolve them to the customer’s satisfaction as quickly as possible.

Of course, this will provide you with a double win, because not only will that individual customer be happier, but other potential buyers will see that any faulty product is the exception and not the rule and is also promptly dealt with, you are a fantastic company to deal with as well. Something that should help you to sell even more units moving forward.

How Your Small Time Products Can Stand Out Against The Big Guns

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When you’re a small business, it’s easy to believe that you’re always going to be that way. But it doesn’t have to be the case. Because the big businesses that you look up to, and may even be competing with, started off small too. That’s the thing about being a small business, you can often underestimate yourself. You think that you have to compete with other businesses in your league. But did you ever stop to realize that aiming higher and looking to compete with the big guns themselves is how you push yourself into becoming a bigger business? If that sounds like something you’re striving for, let’s take a look at how you can stand out against those biggest businesses now.

Original Ideas

The first thing that you’re going to need to do, and do well, is constantly be coming up with original ideas. It can be tempting to almost mirror or copy what the bigger companies are doing – just to make sure that you’re keeping up, but this isn’t always the best approach. Because when you do this, you’re kind of just lagging behind. However, when you can be fresh with your ideas, and come up with something new, you have a much better chance of beating out the competition and standing out as a big player in your own right.

Great Branding

Next, you’re going to want to take a look at your branding. Because it matters. You need to make sure that the image you’ve created for your brand is strong, unified, and will sell in your market. Big businesses kind of sell themselves thanks to their branding. So you need to constantly work on yours, and look to keep it consistent, in order to create a similar effect with your own brand.

Quality Suppliers

From here, you’re then going to want to choose the best suppliers for your business. You don’t always have to go cheap, or even work with other small businesses, just because they’re in your league. Instead, you should be looking to choose specialists in their industry, such as Dynatect Manufacturing Inc., that will improve your products. When you put quality first, your product will always be better. And this is how you’re going to stand up against some of the biggest businesses in your industry.

First Class Service

Sometimes, big businesses aren’t great at keeping their customers happy. Because they get big, and there brand kind of does the work for them. So they forget about the importance of customer service. And this is where you can beat them. By making sure that you always put forwards the best customer service of your life, you will start to stand out among consumers as being the better choice.

Humble Beginnings

It’s also going to work in your favor that you’ve got humble beginnings. Because consumers love to buy local and support smaller businesses. Right now, you’re the underdog – the champion on the people, and customers love that. So if you can stick with this kind of feeling, then your customers are going to love you.

Where Scalability Doesn’t Work In Business

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If you really want to grow your profits asking how you can scale your idea is key.

With technology today there are several ways to outsource, automate and delegate tasks that are both time consuming and replicable by others.

But what if scaling isn’t the best option, then what?

For most business models to scale their parts its a very objective process. Making money depends on putting systems in place to maximize efficiency.

Yet there is one particular area that is almost impossible to scale: customer service.

Even the best training can only safeguard a business so much. In a data-driven world, how people are treated is subjective.

Take any fast-casual restaurant. Most frontline workers are paid minimum wage salaries, but expected to perform at a high level. Pay tends to attract relative talent so when you’re scraping the bottom of the barrel you can’t expect the best customer-employee transaction for a low value.

I’ve always found it interesting how little priority is paid to hiring people with high EQ or soft skills. As a manager I could care less how much experience or technical skill someone has if they don’t know how to talk to or treat people. Believe me empathy is hard to teach.

I work at an education-based startup that is slowly systemizing their processes. Objective measurements are very important, but in the people business brand experience makes or breaks your company.

Believe it or not, clients pay high prices for deliverables, yet what converts them into return customers is: how you make them feel.

As a relationship-driven person myself I admit if you only focus on making people happy you’re running a hobby, not a business. But discounting each interaction both internally and externally will result in higher turnover and a weaker brand.

Scaling your business should be the goal, but how to achieve that needs to be high-touch. Simon Sinek said it best, “If you don’t understand people, you don’t understand business.”

The #1 Reason You’ll Leave Your Job

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The #1 reason why you’ll leave your (current) job is: lack of career development a.k.a. growth opportunities.

From first glance there’s an assumption that includes a promotion, but not necessarily. The need for career advice is on the rise because most people don’t know what they want to do and/or they change their mind often. Blame social media or a plethora of options, but regardless its reality. Let’s start from the company’s perspective:

Why should we invest professional growth resources into employees who might end up leaving?

First response: efficiency. Back in 2008-09 when the recession started, the first thing to go was “luxury” items such as training. Jobs were being cut drastically and our economy went in the tank. The only job that was safe was: sales (gotta make money to stay in business). If you want people to perform better, they have to be trained. Some companies take the shortcut by hiring “experienced” workers then throw them in the fire. That’s one approach, but even if they know the skill set to accomplish the work, the culture is still a mystery. The reason most leaders micromanage is because they never train people under them properly. Part of career development is training on the job (feedback included) and figuring out if the role is a good fit. If it’s not, here’s the perfect segue into the next point.

Second response: saves time/money. If you’re concerned about pouring into an employee, then having them leave, don’t. If you had someone working for you and they didn’t want to be there wouldn’t you want to know earlier than later? Hopefully this gets caught during the interview process, but if it doesn’t training only reveals it. If you’re working for a company who invests in your professional growth, wouldn’t you be more motivated to work harder for them? This may sound too altruistic, but most people’s performance starts to decline (outside of personal issues) when they feel undervalued/under-appreciated. Practically speaking, helping people navigate their career path will provide clarity for the individual as well as the company.

In simplistic terms, here’s the equation: if my company takes care of me, I will take care of their customers.

Great customer service = brand loyalty = higher profits.

The most direct way to take care of people is invest in their career growth.

This is not a futuristic concept. This is current.

Retention is tied directly to career development, or lack thereof.