Developing your business idea into a viable product or service is a critical part of building a business. Thorough assessment and market research at an early stage will help you to establish whether there is a market for your product or service.
Once you begin trading, new products and services will be very important, and investing in their development is crucial to business growth and profitability. But the development process can be risky and it needs considerable planning and organisation.
This guide will help you assess whether your idea can form the foundation for a successful business and put a process in place to monitor and measure its progress.
It also has tips on how to finance the development of your idea and how to protect it if other people get involved.
You will also find information on the development process for new products or services, which will help you to make practical investment and budgeting decisions. This guide also advises you on how best to create a product development team and manage a project.