Path A: Self-Market Development

If you’ve decided to self-market, follow remaining steps on Path A. If you’ve decided to license your idea, see next section for Path B.

* Product and Market Plan (Chapter 15) Plan your work and then work your plan. The fourth step of Market-Step process involves planning product design and marketing programs. Product design results from combining your innovation with needs and wants you’ve discovered through research. Market planning involves positioning, pricing, and communications.

* Product and Market Development (Chapter 16) In fifth step you’ll develop your product in stages (i.e., alpha, beta, commercial release). You’ll use beta product to obtain feedback to confirm functionality and eliminate bugs before final production.

* Product Launch, Market and Sell (Chapter 17) In sixth step you’re ready to move into production and launch your product. This is most exciting part of your project. You’ve given birth to your idea and are bringing it out into world. And as you would with a child, you’ll need to nurture and grow your product, with marketing and sales strategies and tactics.

Path B: Licensing

You’ve determined that licensing is for you. Follow steps in Path B to license your product idea.

* Licensing Proposal (Chapter 5) Before approaching a company or product agent, organize your marketing research into a proposal. Some companies have their own forms to fill out; others ask to submit in your own format.

If you feel comfortable presenting and negotiating, seek companies on your own to license your product. Otherwise, find product agents who will seek companies and negotiate on your behalf. If company likes what you have, you’ll then negotiate a licensing agreement, then carry out obligations, and collect royalties.

Going Forward

Now that you have an overview of steps, my book Product Idea to Product Success, takes you through details of Market-Step process, one step at a time.

* This article can be freely published as long as it is not edited, author information is present, and copyright notice is posted.

Copyright 2004 Matthew Yubas. All rights reserved.

The goal is to be able to make good decisions about how your spend your working time with confidence, so that you are effective, having fun and leaving room for your personal needs and commitments. The goal is to be able to make such decisions from a place of certainty, trust, and faith in yourself, and 'the universe.'

Uncovering Your Beliefs and Understanding Their Impact on Your Business Decisions

1. To get started thinking about impact your beliefs have on how you decide what it takes to be successful in business, pick one from above list that isn't one of yours. Imagine if it were yours. What impact do you think it would have on you? How would it impact your ability to make sound decisions about what it takes to be successful?

2. Now take a look at something you know you do believe, a belief or a habit that you can't seem to shake. If you are having difficulty coming up with one, think about what you complain about to your friends, family or colleagues. Think about story you tell people over and over. (This is part that can make you squirm. It's okay. No one is around but you right now.) We are looking for ugly, wonderful truth.

3. Take belief you identified in 2 above and make note of how it could be impacting your decisions, your ability to set boundaries, your willingness to take time off or simply stop working before 5. (Yes, I meant before 5.)

4. Over next week, take some time to observe and note every time this belief "pops up" to influence your decisions.

Just taking these few simple steps can loosen hold that outdated beliefs have on your decisions from this day forward - no kidding. The beliefs are no longer in background, in hiding, and running show. You now have a chance to loosen their reign.

Bonus Step: If you want to go one step further, write down a new belief to replace old belief. Review new belief every day. Put it up on your computer as a screen saver (mine's "Abundance Girl"). Feel belief, look for evidence it's true. If old one comes to visit, say hello, bid it adieu, and then replace it with new belief.

Willingness, Final Ingredient

Ask yourself this: Am I willing let go of my story and do whatever it takes (even to feel like a fool) to have freedom and success that lead me to start my business in first place? If you are, you can.