This is the first of a 4-part series on launching a physical consumer product. We’re going to cover everything from coming up with an idea, testing and validating your idea, the manufacturing and sourcing process, and how to get cash in hand before even making your product.
Today’s topic is on the do’s and don’ts of coming up with a great a consumer product idea.
The past few months, I’ve been working tirelessly on launching CODA Life, and it’s finally launching! The process has been challenging and fascinating, and while it’s fresh in my brain, I wanted to record a series of podcast episodes explaining the process of starting this business and making the product, and some of the mistakes I made, along with some savvy tips as well.
Note: This is not a series about starting a white label product business or an Amazon FBA business selling other people’s products. This is about starting a business and creating your own products.
Today’s topic is on coming up with a product idea that actually might stand a chance.
Do #1: Scratch your own itch, or the itch of someone you care about
Do #2: Solve a real problem
Do #3: Lean into your strengths and interest
Do #4: Explore multiple ideas
Don’t #1: Think you need to create a product that’s never been created before
Don’t #2: Be a copycat
Don’t #3: Dream small
Don’t #4: Stop at just the idea
I hope these tips help you if you’re thinking about starting this type of business. Be sure to subscribe to this podcast and tune into the next episode, part 2 of this series, where we’ll talk about the manufacturing / sourcing of your product.
Don’t forget if you want to support Coda Life and order our first product, Deep Breath, for stress and anxiety support and mental energy, head over to thecodalife.com and use the coupon code UNLEASHED at checkout for 10% off.