Find new product ideas
Sometimes, a brilliant product idea will strike you when you least expect. It’s often something that you have to keep an eye out for.
It’s because 95% of all new products are a failure.
Where do you start as an entrepreneur? The internet is a treasure trove of information and inspiration. You can use this list to jump-start your online search if you don’t want to aimlessly browse.
Brainstorming ideas for new products: What to consider
When searching for new ideas, look beyond the product itself. Although it may sound cliché, there is a lot of competition in the most popular and common product categories.
Your success can depend on choosing a unique or different angle. Look beyond the products and instead, consider the potential of a product category. Consider new markets, features and ways of using the product.
Do not be afraid to explore smaller categories of products and niches. A niche may be a subset of a bigger category, but it has fewer potential customers. It also has fewer competitors and more targeted audiences. It is easier to reach the top of Google with less competition, and you can advertise more effectively and efficiently to your customers.
Find product ideas in these different places:
- What do you already have?
- Keep an eye on the trends in your community
- Online consumer trends publications
- Take inspiration from industry leaders
- Product Trend Discovery Sites
- Browse B2B wholesale marketplaces
- Online consumer marketplaces
- Browse social forums
- Search social media networks
It’s best to start by using the ideas that you already possess before you search the internet for new small business products, niches and ideas. If you need advice on Shopify Website Design, consider www.etempa.co.uk/shopify-web-design/
It could be a product or an idea that you have had for many years. It could be in the form of a half-written plan on your computer. It’s still worth a second look, even if it was dismissed at one point. You thought it was an excellent idea at one time, right?
When making your list, here are some questions to ask yourself:
- What niches or industries do you find particularly appealing or interesting?
- What niches or industries do your friends love?
- What are your pain points?
Do not limit yourself to the most popular and large sites. Explore niche review sites too. Search for blogs that review consumer products in the niches and types of products you are interested in.
