Important Considerations When Creating a New Tech Product

The tech industry is the lynchpin of a new industrial revolution, having heralded the invention and innovation of pioneering tools and processes. Tech is the future, and it is for that reason that it enjoys such a profoundly large level of investment – particularly in the UK, which stands at the forefront of this paradigm shift in Europe.

As a new tech start-up or entrepreneur, you might be at the start of your journey. You might have an idea for a tech product, and a route to market for it – but what steps should you be considering on your journey through design, development and launch? What follow are some of the essential considerations a business needs to make in the invention of a new product or service, particularly within the tech sphere.

#1 – The Purpose

First and foremost, what is the purpose of the product in question. What solution does it provide to the end user, and is that solution in any way obvious or in-demand? This question has a few purposes. Firstly, you are trying to ascertain whether your product has an audience. Secondly, you are trying to ascertain what steps might need to be taken technologically to reach the specific purpose of the product. This leads in to the research and development stage, which we will encounter shortly.

#2 – Legality

Before any steps are made towards development, it is important that you establish a legally-compliant basis on which to begin your investment. There are numerous legal considerations inherent to running a tech start-up, many of which are dependent on the specific sub-industry in which you intend to operate.

For example, if your product is digital in nature and requires private or personal information from users, there are compliance issues to consider in relation to GDPR and internet security. If the product is a physical invention, will it meet the right product safety parameters to pass as a safe invention? A third-party legal advisor with experience in your area of tech can be a wise investment at this stage.

#3 – Research and Development

This is the most critical stage in the process, requiring as it does co-operation and collaboration from all corners of your business. Not only are your product designers researching existing and new technologies in relation to your proposed product, but marketing and business development staff are researching the domestic market and your immediate competitors. Here, strides are made in iterating the design and charting a course to market.

#4 – Testing and Launch

The home straight comes with final product testing. Here, failures are found and iterated out, ensuring the finished product is adequate for mass production. Meanwhile, marketing teams begin to launch the product, creating buzz through numerous channels. Digital marketing channels are the most effective, with email marketing the most efficient in terms of ROI. A wide-ranging media marketing plan, including product review commissions from major tech publications, can help secure the product’s stature in the domestic market.