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How to Create a Product Development PlanIdentify Market Need.Quantify the Opportunity.Conceptualise the Product.Validate the Solution.Build a Product Roadmap.Develop a Minimum Viable Product (MVP)Release MVP to Test Users.Ongoing Assessment and Development.
Seven phases to new product development:New Product Strategy Development. Only a few ideas are good enough to reach commercialization.Idea Generation.Product Screening and Evaluation.Business Analysis.Product Development.Test Marketing.Commercialization.
New product development (NPD) is the process of bringing an original product idea to market. Although it differs by industry, it can essentially be broken down into seven stages: ideation, research, planning, prototyping, sourcing, costing, and commercialization.
Product development, also called new product management, is a series of steps that includes the conceptualization, design, development and marketing of newly created or newly rebranded goods or services.
Protect yourself: Put your guidelines in writing -- and stick by them. Have a very clear discussion laying out your professional boundaries and ask your client to do the same. Come to an understanding about working hours and response times and agree on how you will schedule calls, meetings, and Skype sessions.
A consultant working as a freelancer or independent contractor typically offers several payment options, including payment by the hour, by project or on retainer. Some clients prefer to be billed by the hour. Others prefer paying by project, viewing it, perhaps, as a way to prevent consultants from padding hours.
Protect Yourself: How to Structure Your Consulting ContractsFull names and titles of the people with whom you're doing business. Be sure they're all spelled correctly.Project objectives.Detailed description of the project.List of responsibilities.Fees.Timeline.Page numbers.
A consulting contract should offer a detailed description of the duties you will perform and the deliverables you promise the client. The agreement may also explain how much work you will perform at the client's office and how often you will work remotely.
Not to be confused with a project plan, a product development plan encompasses the overarching journey from idea to market. It should include and engage as many stakeholders as possible to ensure all of their specific needs, requirements, and concerns are being considered (if not addressed).
Consultants are independent contractors and usually work on a freelance or contract basis. They are categorized as 1099 workers in the U.S. rather than W-2 employees. Consultants are usually paid a flat fee or hourly rate for services rendered while W-2 workers receive paychecks and other employee benefits.