commercially viable product. Didn't Edison famously create 10,000 light bulbs until he found 'the one'? Prototyping isn't restricted to the science lab either, almost everything you're now excellent at took planning, practice and continuous improvement. If we settled for everything we did just once we'd all be married to our first loves and pursuing a career in our high school professions (for those with an inquisitive mind, I'd be a professional children's party entertainer..!).
In light of this, it's can often be wise to 'test the water' before diving head first into something new. So why do we sometimes forget this in business? As is the norm in New Product Development, it makes savvy business sense to test and experiment new ideas before going all in. Finally found your niche? Test the market to see if your niche actually exists! Keen to try your hand at Social Media marketing? Run a low cost Ad to see if any fish start biting.
The beauty of prototyping is that when you spend only a small amount on the initial 'design' (aka your Marketing Ad, lead magnet download, online workshop or competition) you've got plenty left in the kitty to improve and try again. Eventually, you will find something that works! Then, and only then, do you supersize your investment and run hard.
Remember, the window of opportunity may close at any time and what works today may not work tomorrow so be sure to meticulously track your success and continuously prototype to keep finding your edge. Happy experimenting!
New financial year
Word of Mouth