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Rules No. 1 of Product Innovation. Never Fall in Love with Your Innovation.

Before starting, I would like to ask if you want your innovation products being sold in the shop or displayed in Museum.

 

Innovation is the lifeblood of any new product development. However, innovations must come with a realistic mindset. In this blog, we will explore the common mistakes people will make which is always fall in love into their idea.

 

1. Mistakes in Overestimating:

One common mistake is assuming that their innovation is so good that everyone will love it as much as they do. But unfortunately is not. It is important to approach innovation with a critical eye and seek feedback from a diverse range of perspectives.

 

2. The Fate of Innovation Products:

Unfortunately, the reality is that many innovation products end up as dead stock, sitting in warehouses without finding their way into the market. It is critical to have a clear understanding of the market demand before turning your innovative idea into products, especially need to invest a lot of money.

 

3. The Market as the Ultimate Judge:

The market is the ultimate judge of the success or failure of an innovation. Only through market feedback can truly reflect the viability and acceptance of the innovation

 

4. Falling in Love with Your Innovation:

While it is important to have passion and belief in your innovation, it is equally important to be open to the possibility of failure. You can input further modification and improvement, maximum 1-2 trial but if still not working well, just drop it !


 

My failure example: The genius air valve had invention patent granted in 2003, self control inflated and deflected, but this product never sold.

 


Best Regards

Gabriel Li

Potter Industries Ltd.

DESIGN & INNOVATE

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