The Challenges of Product Development (and How Cadversity Can Help)
Welcome back to the Cadversity Blog! Without a doubt, entrepreneurship is a journey full of excitement, challenges, and rewards. One of the most significant milestones in this journey is launching a product to store shelves. However, this process is not easy, and entrepreneurs often encounter numerous difficulties along the way. In this blog post, we'll explore the various challenges entrepreneurs face when trying to launch a product to store shelves, and how we can help alleviate the pressure.
1. Finding the right market:
One of the most significant challenges entrepreneurs face when launching a product is finding the right market. They need to identify a target audience that will appreciate and buy their product. Market research is crucial to finding the right market. Without it, entrepreneurs might invest a significant amount of money and time into a product that has no market demand.
When you partner with Cadversity, we ensure your entity is formed and IP is protected within the right markets surrounding your project. We also ensure you are positioning yourself with an investable product - otherwise, odds are we won't work with you.
2. Funding the project:
Launching a product requires significant financial investment. Entrepreneurs need to raise enough money to manufacture the product, package it, and market it. However, securing funding is a major challenge for most entrepreneurs, especially those without prior experience or a proven track record.
At Cadversity, we eliminate your need to overexert yourself on the funding side by providing you with 50% cost reductions across all industry services, industry cost matching on our invoices, and creative financing terms.
3. Developing the product:
Developing a product that meets the target audience's needs and expectations is a challenging task. Entrepreneurs need to invest a considerable amount of time and resources into product development, including research and development, prototyping, testing, and refining the product. This process can take several months or even years, depending on the product's complexity. At Cadversity, we take care of your product development within a 90-day service guarantee.
4. Manufacturing and logistics:
Manufacturing and logistics are crucial aspects of launching a product. Entrepreneurs need to find a reliable manufacturer who can produce the product at a reasonable cost and quality. They also need to ensure that the product is delivered to store shelves on time and in good condition. At Cadversity, we work with our pre-vetted list of global contract manufacturers (CMs) to get your product manufactured quickly and accurately.
5. Packaging and labeling:
Packaging and labeling are essential components of a product's marketing strategy. The packaging needs to be attractive, informative, and functional. The label needs to comply with all legal requirements and provide the necessary information about the product. Entrepreneurs need to invest in high-quality packaging and labeling to ensure that their product stands out on store shelves. If selected, Cadversity will provide services for packaging design and manufacturing for your new products.
6. Marketing and distribution:
Lastly, marketing and distribution are crucial to the success of a product. Entrepreneurs need to develop an effective marketing strategy that reaches their target audience and persuades them to buy the product. They also need to find the right distribution channels that will get the product to store shelves and in front of customers. This is why Cadversity provides every new client with a bespoke demo page and pitch deck for their new product.
In conclusion, launching a product to store shelves is a challenging process that requires significant investment in time, money, and resources. Entrepreneurs face numerous difficulties along the way, from finding the right market to securing funding, developing the product, manufacturing and logistics, packaging and labeling, and marketing and distribution. However, with careful planning, hard work, and perseverance, and with the attractive service substitutes presented by Cadversity, entrepreneurs can overcome these challenges and successfully launch their products to store shelves.
See you next week!