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 often than not, a lot of the reasons why entrepreneurs or innovators are afraid to remodel a product are 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 and surprising!  Here are some reasons why remodelling 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 to take the jump to reconceptualize and make a drastic change to their businesses.

No matter how scary the term remodelling sounds, there is nothing to worry about!

Often, 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 customer’s experience by leveraging customer feedback, it’s important to note that the customers you are reaching out to for feedback should be 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 to. In this case, what this business finds is that their service or product is not as in demand as 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 remodelling 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 business 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 today, and we can set you up on a call with our product strategist!

About: MAKO Design + Invent is the original firm providing world-class consumer product development services tailored to startups, small manufacturers, and inventors. Simply put, we are the leading one-stop-shop for developing your physical product from idea to store shelves, all in a high-quality, cost-effective, and timely manner. We operate as one powerhouse 30-person product design team spread across 4 offices to serve you (Austin, Miami, San Francisco, & Toronto). We have full-stack in-house industrial design, mechanical engineering, electrical engineering, patent referral, prototyping, and manufacturing services. To assist our startup and inventor clients, in addition to above, we help with business strategy, product strategy, marketing, and sales/distribution for all consumer product categories. Also, our founder Kevin Mako hosts The Product Startup Podcast, the industry's leading hardware podcast. Check it out for tips, interviews, and best practices for hardware startups, inventors, and product developers. Click HERE to learn more about MAKO Design + Invent!