Demonstrate technical viability
Consumers buy products for the benefits they provide, not for the technology underlying the product. You probably have a mental picture of your idea or innovation expressed as a product or process of some kind. You have in mind how that final product or process looks, feels, provides benefit and, ultimately, will be used. The end point of this feasibility exercise is to determine how you will make a sustainable profit from your idea.
If you can show that your idea has commercial feasibility, the next step is to explore how to turn it into a product or process. Ask yourself whether you have:
- developed a working model of the product or process
- evaluated the safety factors of the model
- evaluated the environmental factors
- evaluated the feasibility of producing the product or implementing the process
- measured how the product or process will perform
- developed a design for the product or process
- developed a design for the production process.
Prove that your idea works
How do you convert an idea into a product, or process, which:
- functions the way you intend
- is reproducible in sufficient quantities
- is effectively delivered to the end user by the method you planned
- has the expected or intended benefits for the customer?
Before you consider mass product development or manufacturing activities based on a raw idea or concept which hasn't been tested or validated, you should evaluate the technical feasibility.
This step will confirm whether the product will perform, and ensure there are no production barriers and the final prepared product is of practical benefit. You have to prove that your idea and its product or service actually works.
- Read more about doing a feasibility analysis.