The Million-Dollar Idea is Just the Beginning

Picture this scene:

Someone down on their luck comes across the perfect product idea, gets it developed, and becomes rich!

In HBO’s The Gilded Age, there’s a side story about a footman, Jack, who invents a new design for an alarm clock. After getting financial help from his fellow servants to secure the patent, he and his business partner sell the idea for the equivalent of $20 million dollars. He leaves service and begins life as a wealthy man.

It’s a common misconception that product development is all about dreaming up the magical “million-dollar idea.” The idea IS a crucial part of the process, but it’s certainly not everything. In fact, it’s really just the beginning. 

Some clients come to us with a working prototype and understandably feel that the next step is simply to manufacture it. But getting to a working prototype often opens the door to an entirely new stage of product development. There’s a big gap between a finished prototype and a product that's ready for manufacturing, packaging, safety testing, shipping, logistics, sales channels, and reordering.  

For many entrepreneurs, getting to a working prototype is a major accomplishment. But that prototype often introduces a whole new set of questions about materials, sourcing, manufacturing, safety requirements, packaging, and shipping. Those decisions may not need to be addressed when developing the initial concept, but they become critical when turning that concept into a product that can be manufactured and sold. What materials will work best? Where and how will it be manufactured? What will the packaging look like, both the design of the external box and label as well as the packaging within the box? And how many case packs are required for shipping? 

Then there’s quality control and safety testing. It’s certainly not a sexy part of the process, but just as crucial as the design. Even the best idea in the world would flounder if it’s poorly made or not up to safety standards. 

Another major roadblock can be cost. Product development is a financial commitment; there’s no sugarcoating that. Making a great product with lasting value costs money. And cost itself becomes part of the development process, influencing everything from materials and manufacturing methods to packaging and order quantities. 

For first-time entrepreneurs Paul and Scott, creators of SongFest!, one of the biggest surprises was just how many steps and decisions were involved in bringing the product to market. As Paul states, “The number of steps you need to take along with the number of decisions you need to make, from getting initial design and putting it together with prototype ideas all the way down to logistics and getting it to a warehouse for the final leg of the journey - a significant number of steps and decisions to go from step A to step Z. I didn’t realize all that goes into getting something from idea and initial concept all the way to market.”

Read the full interview about producing SongFest!

In contrast, we also work with established companies that already have experienced product development teams and processes in place. Their needs are often different. They may simply need extra bandwidth to take a concept to market, reimagine a product line, or oversee ongoing efforts. They may need help in a particular area of expertise or someone who can step into an existing project to keep things moving along without creating extra work for their internal team.

Different clients need different kinds of help during product development. A first-time entrepreneur may face many of these decisions for the first time, while an established company may already have the experience and processes to navigate them. Every client enters the product development journey from a different place, and what they need along the way can be very different as well. What matters is understanding where they are starting and what needs to happen next to move the product forward.

What is consistent is everything that happens between an idea and a finished product. A prototype may prove that an idea works, but it doesn’t answer every question about how that product will ultimately be made, packaged, tested, shipped, sold, and produced again.

That’s the part of product development that is easy to underestimate. The idea matters. The prototype matters. But they are the beginning of the journey, not the end.

Want to learn more about what goes into bringing a product to market? Check out our Product Development Workbook or visit our website.