Not every great idea automatically becomes a success. Some inventors get frustrated by this and forget about turning their idea into reality. But others turn to Pivot and our strategic planning, and create the business they’ve always dreamed of. We provide the benefits of a strategic partner in product development, cost reductions, and contract manufacturing, helping entrepreneurs turn an excellent idea into a thriving business, and equipping them with the knowledge and tools they need to become industry leaders.
Having a clear and coherent strategy in place is key to building a successful business from your idea. It allows you to enhance your efficiency and ensures that stakeholders know where to focus and why. Think of it as a map that helps you understand where to take the business and how to get there. While building a strategic plan, ask yourself some of these questions:
- What kind of business are we running?
- How do we offer value to our customers?
- What markets do we operate in?
- What differentiates our business from our competitors’ businesses in the eyes of our consumers?
Once you have a product idea, you need to do sufficient market research to make sure there is a market for your product, as well as identify the characteristics of the market and target consumer. This can be incredibly expensive if not done properly, so you should get help from experts who can streamline the process and help you:
- Identify target consumers
- Examine current market conditions
- Conduct consumer interviews and surveys
- Analyze competitor products
- Calculate an anticipated return on investment
All of these can be difficult on your own, but with Pivot, you have our marketing research experts at your disposal, and they can help ascertain an anticipated ROI, as well as figure out how you can cut down on start-up funds.
Pivot can also help you with another crucial part of your business—your website. Your website will often be the first impression a customer has of your business. Our website consulting services can help entrepreneurs design a website that coalesces with their marketing and business strategies. Once you’ve found the right balance between functionality and design, you also need to develop coherent and compelling content to convey a clear message and story about your product.
Even if you successfully develop a strategy, that doesn’t mean that you’ll be able to successfully implement it without the right tools, knowledge, or resources. No matter how excellent a business strategy, if it isn’t properly implemented, it isn’t going to serve your business. So once you have your plan in place, Pivot can help you implement it. We help you:
- Align initiatives and resourse allotment with strategy
- Design a structure that reflects strategy
- Engage staff
- Monitor progress and adapt accordingly
It’s not easy turning a great idea into a successful business, but when you work with Pivot, you have a range of different business development services at your disposal. At Pivot, it’s more than just product development. It’s about turning a vision into reality.