Conceptualizing and Prototyping the Product or Service Offering in Entrepreneurship
After many years of research and contemplation, an entrepreneur comes up with a billion-dollar idea. If this idea can be turned into a brilliant product–it can help you quit your full-time job, make billions of dollars and help you buy that penthouse by the beach you have always dreamed of. Every product has its own adventures that it goes through before becoming a reality. However, to make the process much simpler, effective, and efficient– conceptualizing and prototyping the product or service is quite important, as it brings the idea to life– but without investing the final development cost. Conceptualizing is basically when the entrepreneur writes down the idea on paper to identify the concepts which will later be helpful in laying the foundation of his business model. Prototyping that concept helps to give the idea a tangible form and helps to gather feedback which can be utilized for the further adjustments and development of the product or service.
ProtoMock is the Best Prototyping Solution in the Industry
But, let us first understand how to conceptualize and prototype a product.
- Define market needs and product requirements– The first step in the product development process is to understand who you will serve, i.e. who is your target market– based on that the product will be developed further. The product requirements will be decided after defining what you want to bring to the table, after proper research of your competitors and audience.
- Design and Prototype the product– Keeping the requirements in mind, develop your design. Prepare a checklist and once you are perfectly sure about what features you want to have, commence with prototyping the design. The time of prototyping will grossly vary according to what product you are creating. Prototyping will only give you an idea of how the final product will look and feel, it is not the final product itself– so keep a time frame in mind so that you are aware and don’t spend the entire time on building a prototype.
- Testing the prototype– Now that you have created a working prototype, you can use it for market testing to understand whether it is actually viable to the users and the product resonates with the needs of the users. Take notes and ask questions to the users about how they liked the product and what they would prefer improving, or if any flaw is there or not.
- Refining your prototype to perfection– Most entrepreneurs give up if they find the product doesn’t match their users’ needs. However, success lies in staying consistent. This is the most time-consuming part, as now you will modify the structural and functional problems related to the earlier prototypes. You might need to modify and bring changes to the product more than once, but the final result will be worth the wait.
- Showcase your prototype in front of investors – Now that your prototype is refined and modified according to user preferences and has brought satisfaction to you– you can showcase it in front of your investors and stakeholders. Give that big presentation successfully and then you can onboard with your journey in the final creation of the product.
Know How to Speed Up the Prototyping Process with ProtoMock
Prototyping has never been this easy, as it has now become with Protomock. If you are searching for that one-stop platform for all your Prototyping needs– Protomock is at your service.