-
Hire some staff and begin coming up with some ideas, and get rid of all the rubbish ones. The staff necessary are designers, marketers, software developers and human resources. Keep to a skeleton team at the beginning, as there isn't any money flowing in yet. When possible, a bank account will need to be opened, and the company will need to be registered. This can cost between $50 and $200 depending on the conditions. If possible, apply for a startup small business loan to help get funding.
-
Find the best idea, make a survey to begin to collect market research. Set up a social media page for your business and begin to post your progress, so people can see what is happening. It also acts as a
-
Work out who the target market is for our product and continue with the market research
-
Begin to make power-points and flyers to begin to do Market research to see if it is viable to make the product a real thing, and what can be changed to help improve it. Collect from ads, people on the internet and the areas that your target market may be based in.
-
Find out what people liked about your product, then add it into the features of the product you are designing.
-
Begin to design a prototype product, keeping in in the feedback and ideas that the market research gave you, and create a prototype to show a focus group. For this, you will need to find a company that can make all of the sensors and circuitry, and purchase that off them. The engineers can fiddle with it once delivered to ensure it will all function correctly.
-
Create a focus group and bring the prototype product to the focus group. Attempt to get a wide range of people in the focus group, like different genders, different socioeconomic status, different areas to see what they all think of the product and if it is worth spending money on it. Record their reactions and adjust the product and it services to suit.
-
As a team, look over the feedback and data collected the previous day from the focus group and evaluate. Is it possible to fix some of the issues that they have stated? Can you add some of their questions into a frequently asked questions page?
-
Now the target market has analyzed the product, take some of their advice on board and see if any of this advice is useable. With their useable ideas, consult the designers and programmers to see if these can be implemented into the final product.
-
Using the prototype, create some marketing for a Kickstarter campaign to get the first customers of the product. This will include brochures and a promotional video so people know what they are backing and why.
-
Now the product has been checked and revised by a focus group, its time that the prototype gets installed for further testing. This will also help find all the bugs in the app, while also possibly setting up for the future, as a live demo.
-
Now the product has been tested by a focus group and the marketing has been created, its time to launch the Kickstarter and GoFundMe campaign. This will give the company a boost of money before the product is released. Make the product seem more appealing than just buying it retail, reduce the price or make the subscription cheaper for a while. Try to earn around $20,000 to help keep the business afloat during the design and testing period, but any extra money is good.
-
Continue testing the prototype in the house and establish a temporary call/response centre to ensure all of the features are working before putting it out into mass market
-
Now that the CCTV system has been installed and tested, all of the issues that have been unearthed, fix them while it is still in the prototyping stages. Create a few more prototypes and give them to a few consumers to test them, and find more issues with it.
-
Evaluate the month and the product, check-in with the team and the testers to see what issues exist and what needs fixing. With the amount spent this month, create a cash flow analysis to ensure that the company will not go bankrupt during the design period. Evaluate the financial statements and see where money can be saved for the future months.
