When you want to determine the selling price of your new product, you need to consider the production cost, the competition, and the target market. There are many factors that influence your final selling price and profitability of your new product.  If you want to have a profitable product you need to carefully calculate the […]

Are you thinking about manufacturing your own product idea? That’s amazing! There are various ways to do this. Outsourcing the manufacturing to a third party or manufacturing it yourself. White labeling your product or private labeling? It depends on objectives and resources which way is the best one for you. Let’s get into more of […]

Setting your new product development team up for success requires careful planning and execution. First, you need to establish clear goals and expectations for your team. Whether your team consists of your own staff or external hires or contractors, clarity here is key. This includes defining the product vision, target market, and desired outcomes. let’s dive […]

The specific product samples required to move from prototype to final product will depend on the type of product being developed. However, some common samples that may be needed include materials samples to test for durability and quality, prototypes to test for functionality and design, packaging samples to test for protection and presentation, and user […]

When I worked as product manager and project manager for large organizations, I was often wearing the ‘product creation hat’ and at the same time the ‘project management hat’ during a new product development project.  When you’re a business owner of a product-based business, you’re probably wearing these two hats as well. Here are some tips on how to apply project […]