If you are thinking of creating a product and bringing it to market, this trio wants to share their experience with you and explain why it is essential to know your finances.These co-founders of URJA Intimates by Dr. Sherry share their top finance tips:ensure that there is a need in the market
. The key is that this product needs to solve a problem for the consumer to pay for it. Do your market research to ensure you don’t put all this effort into creating a product that nobody is interested in buying. Bringing a product to market is a hefty investment with significant costs attached to it. Costs include: testing the product, manufacturing the products, ensuring the safety of the product, packaging costs, and all the backend requirements to run a business successfully.
. The trio not only identified a market need, but they also identified an opportunity for growth within that market. They know they will have a viable product that will offer ways to expand the product line and help more women with their feminine health and sexual wellness. The bottom line is that an idea is only the beginning. You need to invest a lot of time and money into getting this ready to go to market. Getting an idea to market is exciting and time-consuming, but you need to be sure you are committed to launching a product, or the efforts will be fruitless.