How Remodeling your Product can Transform your Business
Starting and managing a business can be a difficult and long journey, even for the experienced entrepreneur! A common feeling that a lot of business owners or inventors go through is that once they are focused and dedicated to a certain product, invention, or innovation, they find it hard to steer from their original direction and try something new. More times than not, a lot of the reasons why entrepreneurs or innovators are afraid to remodel a product is mainly due to the fear that anything new they try or experiment with for their business or product can be a waste of time and resources. To remodel a product can involve a lot of effort, but the benefits and rewards can be fulfilling a surprising! Here are some reasons why remodeling to improve your product can actually be extremely beneficial in transforming your business.
What Does it Mean to Remodel a Product?
Hearing the word remodel or redesign could almost spell disaster for a lot of inventors or business owners. A huge problem with most businesses or entrepreneurs is that although inventors and entrepreneurs are extremely bold and courageous, most hesitate on taking the jump to reconceptualize and take a drastic change to their businesses. No matter how scary the term remodeling sounds, there is nothing to worry about!
More often than not, a lot of businesses can lose their momentum and appeal after being on the market for too long, and with so much stimulation and competition from tough competitors, finding ways to keep your audiences interested and sticking out can become difficult. To remodel a product does not mean to completely change the goals and direction of your company, business, or product, but to re-evaluate what is, or isn’t working with what you already have out. Below we’ve listed some of the most important parts of remodelling your product that can help transform your business for the better.
Remodel a Product to Help you Improve Your Business
One of the most important parts to take when beginning to remodel a product is looking over both the successes and areas in which your product can improve. No matter how well your product works, it’s important to always know that it can always improve. A way to determine and measure the best methods to take when improving your product is to set up different forms of customer feedback acquisitions.
Your clients and customers are always going to be the main force that keeps your business running or your product a success, so taking the time to listen to the thoughts, opinions, and experiences of your customers or clients can help clear up and understand the ways in which your business or product performs. Using your customer experiences and your business goals, you can access new ways in which you can remodel a product in order to improve your product and transform it into something better where you can reap more benefits.
Remodel a Product to Meet your Audiences’ Needs
While on the topic of understanding your customers’ experiences from customer feedback, it’s important that the customers you are reaching out to from your customer feedback acquisitions are the customers you had originally targeted. A common situation that a lot of new business owners find themselves in is that after setting up and creating a business model for them to follow, they reach audiences and customers that are not originally from the field that they projected for. In this case, what this business finds are that their service or product is not within the field they had wanted or hoped for.
Although it’s good that your business will have a good list of customers or clients that support your business, if your audiences are not within the original field you had hoped for, you may need to remodel a product in order to properly release your product into the field in which you had originally intended to hit or change your targeted field altogether. By doing so, you not only find a new business model to follow but also can make clear and focused goals to realign your business and product to where it needs to go.
Take the Opportunity to Rebrand and Remodel a Product
One of the biggest aspects of remodeling a product is taking the opportunity to also rebrand your business. If you find that the look or image of your business is not working out or best suiting your businesses or product needs in order to be successful and hit the market in the way that it should, it could be time to completely re-brand your product and business. Re-branding gives you and your business the opportunity to come back fresh and new into your market. When you remodel a product, you give more opportunity to your business but can also give potential to reach new clients and audiences.
Through re-branding, you can take the time to observe the best practices taken by your competitors and see what methods they use in order to be a strong brand within your targeted market. From there, you can apply similar methods to your re-branded image and business model and stand out in the market as a business with a new and innovative product or service to offer your audiences. Re-branding is also a really good opportunity to present a new and fresh idea or innovation to audiences, showcasing your business as a leading force within your targeted market, whilst keeping your audiences excited for the next big and new thing.
If you have a great new invention and you’d like to learn more about this process, get in touch with MAKO here and visit our website to find out more. Feel free to give us a call at 1-888-MAKO and we can set you up on a call with our product analyst!
Article Author: MAKO Design + Invent
MAKO Design + Invent is a full-service consumer product development firm servicing both high-growth corporate manufacturers and invention startups. With a 25-person team across 3 offices (Austin, England, Toronto), MAKO has complete in-house industrial design, mechanical engineering, and electrical engineering design and prototyping services. To assist our start-up inventor clients, we also have a subsidiary branch called Mako Invent that, in addition to above, helps start-ups with patenting, strategy, marketing, and sales/distribution for all consumer product categories. For our corporate clients, MAKO Design develops world-class consumer electronics designs through our industrial, mechanical, and electrical design teams.
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