Planning a route to market within a disruptive industry is a long, dark road. But it’s possible…
So, you’ve got a disruptive idea that is going to change the world?
If you truly have a disruptive product idea, there is no paved way to make it a commercial success. Planning a route to market within a disruptive industry is a long dark road.
Many have tried previously, and failed on their journey to market simply because there was no commercial viability within their ideas.
Some people, anyways. Let’s ignore Uber and friends for this example.
In order to be successful within a disruptive industry, there is no doubt that you need to be a visionary with technical expertise.
But in order to take your idea and make it a commercially viable product, you need to be able to understand that your idea needs a commercial strategy.
You need to be able to dominate the market, and you can’t or won’t be able to do that with just an idea.
You need a commercial strategy.
Planning a route to market within a disruptive industry is not possible without having a commercial strategy.
Defining a commercial strategy
There’s no possible way you can begin planning a route to market within a disruptive industry without identifying pain points and understanding what the product will generate income.
If you skip the step of defining the commercial strategy for your idea, you will most likely end up knocking on the markets door and the market won’t answer unless you have narrowed down what the purpose of your idea is and what customer your idea will serve.
In our experience a commercial strategy completely varies from project to project, you can’t have one set of answers or a text book to guide you through step by step.
It’s way too difficult to determine what a product needs without understanding the products purpose.
But what you can do is ask questions.
Here are a few questions to determine whether your product is commercially viable:
- Determining the value of your idea/ project
- Can it change the world?
- Can it disrupt a market?
- Does it increase efficiency within the company?
- What does your ideal customer look like?
- What is there currently on the market?
- Is your product idea actually solving a problem?
- How is your idea different?
- If your idea is different, why hasn’t your idea been created previously?
- Will it work?
- Does it solve a problem?
- Can it make money?
- Does it actually change anything in the industry it would be situated?
- Change the way people work?
- Decrease risk
- More efficient
- Who is my idea intended for?
- What customer/ industry is my idea for?
- What will my idea do to change the industry?
- Why does my idea matter
So, how do you map your route to market within a disruptive industry?
Laying careful groundwork can make all the difference when planning a route to market within a disruptive industry.
Long gone are the days of the scatter brained creatives, the new 21st century inventor needs to align themselves with the ever more complex consumer they’re selling to.
The 21st century inventor needs to become more hard-headed, committed and business like with a long term mentality.
So that means, the road to creating your first piece of intellectual property is daunting.
It can be a long road of uncertainty and, in an increasingly crowded market, it is tough.
Success lies in getting the right advice and guidance along the way from the experts within your ideas industry who are in the know.
In fact, finding out how to get your product to market is often more relevant to your success than the features and benefits of your product idea. Because if you have a product that you can’t sell, well, sorry to say this but it’s useless.
By having a solid commercial strategy and developing the strategy from the offset, you significantly reduce any chances of developing a product with no commercial viability.
Consumers don’t buy inventions
Your customers buy products that solve problems, so you need to shift your approach away from creative thinking and instead be thinking about how you’re going to sell your product.
A product that has not been developed with the commercial strategy in mind, will most likely fail when it comes to sustainability.
This is because for a product to sustain itself it needs to generate the revenue required.
Also, don’t fall into the trap of creating a strategy without knowing what you’re doing. Sometimes strategies aren’t even strategies.
We have been there and done that, many times.
Tharsus uses knowledge and experience to disrupt the status quo, helping customers big and small solve complexities of today’s market as well as provide vision to stay ahead of tomorrow’s challenges.
We know our products and have taken many ideas to market.
Whether you’ve never taken a product to market before, or you know how difficult it is from experience; we can help you get your idea to market.
We’ve done it before, we can do it again.