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How do you turn a product idea into a real business, from developing the product to finding investors and selling it?

I am a high school junior interested in industrial design and entrepreneurship. My long-term goal is to create my own product-based business. Sometimes I think of product ideas that I believe could have potential, but I don't know what the process looks like after having the idea. I want to understand how entrepreneurs develop and test a product, determine whether people actually want it, create a business around it, find manufacturers, handle things like funding and intellectual property, and eventually present the idea to investors. I would especially like to hear how you approached these steps when building your own business and what you would recommend to someone starting from zero.


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Tony’s Answer

As a first time entrepreneur, you need to develop a detailed business plan. This includes your product/service details, marketing strategy, financial projections and a long term growth or exit strategy. Reach out to the Service Core of Retired Executives (SCORE.org), and they will assist you with this at no cost.
Once you have one or two successful products or services that prove to be profitable, then you can use your network to launch new products or services.
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