Very few businesses launch new products. Yes, they will say that their product is “new” but it’s really just the same but different. The problem with products that have never existed before is that it takes deep pockets to develop and promote them and lots of time to educate the consumer or business-to-business customer.
Take the bagless vacuum cleaner that James Dyson came up with in the 1970s. It took him at least two decades to get it manufactured and accepted by the market. What average small business owner can wait that long to make an income from a new product?
Continue reading “Warning: think again before you launch a new product”
