Have you ever noticed that as a society we are focused on accomplishments and successes?
I’ve had some successes in my career, but what really I want to tell you about are failures, and it’s because we learn more from failing than from succeeding.
I remember at one point when I was working as a product developer, I counted 75 projects on my ‘desk’. The environment I worked in was fast-paced and there was a lot of pressure to do more. Of those 75 products that were in development, 12 made it into the market. That’s 16% market entry. So what went wrong with the other 84%?
There were many reasons, but the #1 reason was not enough clarity about what the product is in the first place, making it a moving target. Back then, it wasn’t a big deal when product development went awry, changed directions, just didn’t work out, OR, took a bit longer to get to commercialization. It was the norm for the industry and the size of company I was working for.
But my clients (you!) can’t afford to spend limitless resources, energy and time on developing products that are going to fall flat on their face. What are we going to do about this?
Last Fall, Community Connections Society of Revelstoke asked me to speak about bringing your product to market. We had about 20 participants and engaged in some really great conversation about what it takes to commercialize a food product. Leading up to this event, I had several requests to facilitate this talk in other parts of the Interior, but due to geographical, weather and resource constraints, it wasn’t going to happen.
However, in the spirit of collaboratively building a local food system, I took the content and put it on video. No driving through snowy passes required!
This video is the first of a 3-part series that summarizes the content of my presentation.
In this first module, we’re going to get really focused and clearly define what your product idea is, look at whether it’s the right fit for you (or not), and start to understand what’s required to bring it to market.
The second module is focused on food safety and regulatory requirements, and the last video is about building an efficient process and consistent product.
Be sure to sign up for my mailing list to find out when the second (and third) video will be released! You can sign up in the sidebar on my homepage at www.foundtree.ca