There are many people who would like to be an entrepreneur, but they feel like they do not have a good idea to start a business. Many of tomorrow's greatest businesses probably do not exist today. In other words, the greatest ideas have not been realized yet. So, how do you come up with one of these ideas?

Developing a winning product or service is the main focus of this class. This course will help you create a new product or service to offer to the marketplace. There are a series of steps to go through in order to research the viability of a new concept. Here, you will learn about doing demographic research, obtaining funding for your new concept, testing the possible success of the product, and making the concept a reality.

You will also learn about the New Product Development (NPD) system. The steps in the NPD model will create a system that anyone can use to create, test, and launch a new idea.

If you have always wanted to be a business owner but were just looking for a good idea, this course will help you create a powerful concept to go to the market with. Or, if you have an idea but are not sure if it would be successful, the NPD model would provide you with a method of determining the potential success of the idea. The power is in the NPD system.

Learning Objectives:

• Define the New Product Development (NPD) as a business model.
• utline the fundamental steps in analyzing a product idea.
• Select a test product idea to start building your business.
• Explain five ways to fund your NPD project.
• Differentiate between a good product and one that will fail.
• Define options to outsource the operations of the NPD business.
• How product testing can position the product and optimize sales.
• Learn the steps to develop and market your own product.
• Recognize powerful ways to market a product and expand the effective sales efforts.
• Strategically and efficiently maximize the market position of your product.
• Create an action plan for the NPD business with a template to move forward.