How To Start Developing Your New Product (Feat. Liz Long)

In this episode... Sofeast's CEO Renaud Anjoran is joined by special guest Liz Long, founder of Learn to Make a Product, a platform that supports customers to launch products, providing expert advice and assistance to set up their supply chains, develop products, and go through all of the steps needed to get to market! American new product manufacturing expert Liz shares her own experience, best practices, and tips in this episode to help entrepreneurs and SMEs get an understanding of the first steps required to start developing their own new products. If you've been sitting on your new product idea, hopefully, this episode will give you the impetus you need to start bringing it to market!   Show Sections 00:00 - Greetings and introducing the topic: How to start developing your new product 01:27 - Who is Liz Long? 04:00 - How could a would-be entrepreneur start out with their new project and how long before they see 'success' after launch? 06:20 - How long would it take to be ready to launch? 07:40 - Benefits of private labelling VS custom product development from scratch. 14:06 - Are there product types that have a lower barrier to entry or lower investment required to get to market quickly? 20:14 - What tools, sites, and resources are helpful to someone who is developing a new product? 26:38 - Finding the right supplier/factory and if working with an intermediary is OK? 31:42 - The dangers of being overly optimistic when starting. 34:47 - Wrapping up.   Related content... Sofeast can help with your NPI process and product launch, with our engineers and supply chain experts supporting you every step of the way with product engineering solutions for every need.  What is the New Product Launch Process? NPD Project Constraints (3 common examples) What is an NRE Cost (Non-Recurring Engineering)? How to Calculate the Cash Needed to Prototype & Launch your New Product [Podcast] Ultimate Guide To Sourcing From China And Developing Your Suppliers [eBook]   Get in touch with us Connect with us on LinkedIn Send us a tweet @sofeast Prefer Facebook? Check us out on FB Contact us via Sofeast's contact page Subscribe to our YouTube channel   Subscribe to the podcast  There are more episodes to come, so remember to subscribe! You can do so in your favorite podcast apps here and don't forget to give us a 5-star rating, please: Apple Podcasts Spotify Stitcher Google Podcasts TuneIn Amazon Podcasts Deezer iHeartRADIO PlayerFM Listen Notes Podcast Addict Podchaser