Some entrepreneurs experience creative flashes or strokes of genius where they simply come up with new successful products. But more often, good entrepreneurs have to actually work to come up with those ideas.
Unfortunately, new product inspiration isn’t readily available on every corner. To come up with a product that is not only possible to make, but also solves a need for a specific market, you have to know where to look.
According to Stephen Key, author and co-founder of InventRight, entrepreneurs need to look no further than their own computer screens for new product inspiration. He wrote for Entrepreneur:
“Back in the day, I would walk the aisles of local stores for inspiration. These days, a wealth of information can be accessed with the click of a mouse. You don’t have to wonder what consumers wish was better about the products they use. It’s all right there! I’m talking about product reviews, particularly those found on Amazon. There are just so many.”
Product reviews on Amazon or other third-party sites can contain a wealth of information about the products people use and what they like and dislike about them.
For example, if your company sells accessories for electronics and is considering expanding into wireless speakers and audio equipment, you could browse the reviews in that product category for inspiration.
Not all reviews will necessarily be helpful. Some people just like to complain or leave ratings without actually explaining what they liked or didn’t like about the product.
But if you notice that most people seem to like or dislike something specific about a particular product, that could be worth noting.
You might, for instance, notice that people are unhappy with the sizes of the current wireless speakers on the market. They might be interested in something smaller than what’s available. Your company could fill that void in the market.
There’s no foolproof way to ensure that your product will be successful. But by doing the proper research, you can definitely improve your odds. And online reviews should at the very least be part of that research process.
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