NEW PRODUCT LAUNCH ADVICE, HELP, MARKETING, ADVERTISING, SUPPORT, INFORMATION

New product launch advice * help * marketing * advertising * support * information * new product launch advice * success * market research * successful launch * start new business * new company start up * help and advice with starting a new business * successful entrepreneurs

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Those of you who watch the Dragons' Den, The Apprentice on BBC and Tycoon, the latest offering from ITV will know that launching a new product or setting up any new business is not for the faint hearted. If you have watched any of these programmes and have an idea for a new product or business, you will know that simply having a good idea is not the basis for a good business.

Unlike the TV shows mentioned above, applicants who approach us with new products or business ideas don't get verbally savaged. New entrepreneurs need advice, support, help, guidance, mentoring and encouragement when first starting out on the road to fame and fortune.

That is why, when we look at partnering a new business or product launch we look beyond the idea at the person to see if they have the potential to succeed. Providing they have the determination and belief in themselves, we will normally take care of the areas where the candidate doesn't have the experience necessary.

We make businesses more efficient, more productive and therefore more profitable. We do this by bringing skilled, intelligent business people to the boardroom table who are highly experienced in each of their own fields. We work on either a fee paying basis or in some cases, where the business is lacking the financial resources but has potential; on a share equity basis.

Every new product launch has to go through a number of stages before being given the green light. Here are out top tips.

• If you come up with a concept for a product don't ask family, friends or employees if they think it is a good idea. For a number of obvious reasons, they are unlikely to give you an unbiased opinion.
  
  
• Speak to people, total strangers if possible, who will not be worried about your feelings or their situation if they are negative.
  
  
• You don't have to give away any secrets. If you have an idea for a product that solves a problem or makes life easier, ask people if they have that type of problem, how they feel about it and whether they would buy a product that solved that problem.
  
  
• If you are pitching your idea to a company like us and looking for backing of any kind, practice your presentation. Be succinct, know your product, make the benefits and uses clear, gain an idea of how big the market is (numbers of population, financial projections), production costs (if any), suggested wholesale/retail prices etc.
  
  
• Do some basic research. Have the answers to any likely question to hand. Nobody should expect you to memorise everything but all business people will expect you to have done your research and not just gone blundering forward without any idea of a business plan.
  
  
• Know your strengths and weaknesses. No one can be good or experienced at everything. If you are good at inventing things it doesn't mean you will also be good at business.
  
  
• Don't try and do everything. Most small businesses fail because the principal is spinning too many plates. Something has to give and it is usually the mental or physical health of the individual.
  
  
• Surround yourself with experienced talented people. Taking on partners with the skills and experience you lack means that you can delegate responsibilities. You have people you can rely on, more time to concentrate on your specialised areas and support in times of crisis. Yes you have to give away part of the company but your share of the profits will be far greater than had you tried to go it alone.
  
  
• Just having a good idea doesn't make for a good business. The bankruptcy courts are full of people who had a good idea and no business acumen.
  
  
• The internet is a fantastic source of business and where most businesses waste money and fail to make an impression. Do not make the mistake of thinking that a cheap website has any chance of being found in the search engines. The companies making millions on the internet are investing millions in their internet presence.

Most new entrepreneurs and businesses that approach us for assistance, do so with a certain amount of trepidation. They are excited about their new idea but may be lack the resources to take the new product further and most likely have no idea of how or where to begin.

This can also apply to larger companies who sometimes find themselves too close to their market place and products and can end up making the most expensive mistakes because they are too inward looking.

This is where a new approach can be highly profitable, with fresh eyes and imaginative thinking, a new product can be brought to the market that succeeds beyond the original conceptual remit.

So how can we help with a new product launch.