Launch Your Product with a World-Class, Full-Service Agency

 
 

About Enventys Partners

Enventys Partners is a leader in product development. For over 15 years, clients have utilized our combined services to take their consumer product from napkin sketch to production. We’ve launched products for some of the world’s biggest brands and hottest startups.

  • We’re most inspired when we’re helping others launch their ideas. To that end, we’ve launched more than 600 new businesses, developed, prototyped, launched and marketed over 1,300 new products, made over $1 billion for entrepreneurs and won countless awards along the way

  • Our additional capabilities focused on crowdfunding and ecommerce marketing allow you to quickly test your product’s market demand, find additional funds to produce it and turn it into a commercial success.

You have an idea. We have the modelers, engineers, designers and manufacturing resources to bring it to life. Whether you need an all-encompassing strategy or assistance with a single service, we provide value for your new product launch. We offer crowdfunding, product development and digital marketing services, all under one roof.

 

Louis Foreman, CEO of Enventys Partners (right) and Carlos Salum (Brand Ambassador, Enventys)

 

Product Innovation

Product innovation involves a structured approach to creating new or improved products that meet customer needs, drive market growth, and differentiate a brand.

The process typically follows a series of stages, each focusing on different aspects of development, from idea generation to market introduction and scaling. Here’s a detailed breakdown of the steps in product innovation:

1. Idea Generation

  • Brainstorming: Gather ideas from various sources—team members, customers, competitors, industry trends, research, or even cross-industry insights.

  • Research and Observation: Use market research, customer feedback, and emerging trends to identify unmet needs, inefficiencies, or gaps in the market.

  • Creative Exploration: Encourage creativity by exploring new materials, technologies, or design approaches.

  • Collaboration: Involve diverse groups (engineers, designers, marketers, etc.) for a holistic idea generation process.

2. Idea Screening

  • Feasibility Assessment: Assess each idea for its technical feasibility, potential market demand, and alignment with the company's capabilities and strategy.

  • Cost and Profitability Analysis: Estimate the costs, potential price points, and profitability of each idea.

  • Risk Evaluation: Consider risks such as market competition, regulatory concerns, and technological challenges.

  • Selection Criteria: Prioritize ideas based on a set of criteria like innovation potential, resource requirements, and alignment with strategic goals.

3. Concept Development and Testing

  • Concept Creation: Develop detailed concepts for the chosen ideas, specifying features, benefits, target audience, and potential value propositions.

  • Prototyping: Build low-fidelity prototypes or mockups to test the viability of the concept in a real-world setting.

  • Customer Feedback: Engage potential customers or focus groups to get direct feedback on the concept's appeal and practicality.

  • Refinement: Adjust the concept based on feedback and new insights to improve its viability.

4. Business Analysis

  • Market Research: Conduct deeper market analysis to understand customer needs, competitive landscape, and pricing strategies.

  • Cost and Financial Forecasting: Project the cost of development, manufacturing, and marketing, and estimate the revenue potential.

  • Profitability Modeling: Perform a break-even analysis to determine the volume required for profitability and assess return on investment (ROI).

  • Market Fit Assessment: Ensure the product aligns with market demands and strategic business goals.

5. Product Development

  • Design and Engineering: Translate the concept into a detailed design and develop a working prototype with input from engineers, designers, and developers.

  • Technology Integration: Integrate the necessary technologies, such as software, hardware, or materials, to ensure the product functions as intended.

  • Testing: Conduct rigorous testing of prototypes to identify any design or functionality issues, ensuring quality and performance.

  • Iterative Improvement: Continuously refine the product based on testing feedback, improving both usability and manufacturability.

6. Market Testing

  • Pilot Launch: Introduce the product to a small, representative market segment to gauge its reception.

  • A/B Testing: Test different versions of the product (e.g., varying features, pricing, or marketing messaging) to identify the most effective combination.

  • Customer Feedback and Adjustments: Collect feedback from early adopters, making adjustments to improve the product before the full-scale launch.

  • Sales and Distribution Evaluation: Assess the sales potential and distribution channels, making sure the logistics and operations are ready for a wider rollout.

7. Commercialization

  • Full Market Launch: Roll out the product to the broader market, supported by marketing campaigns, PR efforts, and sales strategies.

  • Promotion Strategy: Develop a promotional plan to highlight the product's unique value proposition, differentiating it from competitors.

  • Distribution and Supply Chain Management: Ensure robust distribution networks and supply chain mechanisms are in place to meet demand.

  • Sales Enablement: Equip sales teams with the necessary tools and training to effectively sell the new product.

8. Post-Launch Monitoring and Evaluation

  • Sales Tracking and Feedback: Monitor product sales, customer feedback, and market trends to understand how well the product is performing.

  • Continuous Improvement: Implement iterative improvements or updates based on customer feedback, performance data, and evolving market trends.

  • Customer Support and Engagement: Provide ongoing customer support, ensuring that issues are resolved quickly and customers remain satisfied.

  • Life Cycle Management: Manage the product throughout its lifecycle, deciding when to phase it out, introduce upgrades, or diversify its applications.

9. Scaling and Iteration

  • Market Expansion: Explore opportunities to expand the product's reach into new markets or customer segments.

  • Product Line Extension: Create variations of the product or complementary products to maximize market share.

  • Sustainability and Long-term Strategy: Integrate sustainable practices into product design, manufacturing, and distribution to ensure long-term viability and appeal.

  • Feedback Loop for Future Innovation: Maintain a continuous feedback loop to fuel future innovation, leveraging lessons learned to create even more advanced products.

Why Hire Enventys Partners to Assist in Your Product Innovation

Hiring Enventys can provide numerous benefits to businesses looking to develop new products, improve existing ones, or enter new markets.

Enventys specializes in the creative and technical processes that drive successful product innovation, offering expertise and resources that many organizations may lack in-house.

Here are the key benefits:

1. Expertise and Specialization

  • Deep Knowledge: Enventys brings specialized knowledge in design, engineering, market research, and technology, ensuring that products meet high standards and consumer demands.

  • Experience Across Industries: Enventys has worked with businesses across various sectors, which allows them to offer diverse insights and innovative solutions that could be adapted to your specific industry.

2. Accelerated Time-to-Market

  • Streamlined Processes: With their structured processes and established workflows, Enventys can help reduce development time, allowing businesses to launch new products more quickly.

  • Efficiency in Execution: Enventys’ expertise in managing the entire product development lifecycle ensures that all phases (from ideation to commercialization) are completed efficiently and effectively.

3. Fresh Perspectives and Creativity

  • Out-of-the-Box Thinking: Enventys brings fresh ideas and creative solutions to the table. Their external viewpoint can challenge internal assumptions, helping to discover novel concepts that may not be considered by in-house teams.

  • Diverse Expertise: By leveraging professionals from different disciplines (e.g., design, technology, strategy, and marketing), Enventys fosters creativity that often leads to breakthrough innovations.

4. Access to Advanced Tools and Technologies

  • State-of-the-Art Resources: Enventys invests in advanced tools, software, and technologies that may not be available to businesses internally. This can include everything from CAD software for product design to market simulation tools for testing concepts.

  • Prototyping and Testing Capabilities: Enventys has access to facilities for rapid prototyping and user testing, enabling the creation and validation of product ideas before full-scale development.

5. Risk Mitigation

  • Thorough Market Research: Enventys conducts detailed market research to assess customer needs, competition, and potential risks. This helps ensure that the product is viable and has strong market potential.

  • Avoiding Pitfalls: By applying their experience, Eventys helps navigate common pitfalls in product development, such as misaligned features, manufacturing challenges, and market positioning issues, minimizing the risk of failure.

6. Cost Efficiency

  • Reduced Internal Resource Strain: Hiring an external innovation firm such as Enventys can reduce the need to hire specialized, full-time employees or invest in expensive infrastructure for product development.

  • Optimized Budgeting: Enventys is skilled in allocating resources efficiently, potentially saving money by focusing on high-impact features, using cost-effective development methods, and avoiding unnecessary expenses.

7. Focus on Core Business Activities

  • Freeing Up Internal Resources: Outsourcing innovation efforts to Enventys allows businesses to focus on their core operations—such as sales, marketing, or customer service—while Enventys handles the heavy lifting of product development.

  • Internal Alignment: By partnering with experts such as Enventys, businesses can ensure that their internal teams are aligned around a strategic vision, and they can better focus on integrating the new product into their overall business strategy.

8. Scalability

  • Adaptable Solutions: Enventys can scale its efforts based on the needs of the business, whether it’s handling a single product development project or managing a large portfolio of innovations simultaneously.

  • Growth Support: As businesses grow, Enventys can continue to support them by launching new products, expanding product lines, or optimizing products for new markets.

9. Cross-Disciplinary Collaboration

  • Integration of Business, Design, and Technology: Enventys brings together experts from various fields, including business strategy, design thinking, and engineering, to ensure that the final product meets both customer needs and business goals.

  • End-to-End Support: From market research and concept development to prototyping and commercialization, Enventys can guide the product through all stages of development, ensuring consistency and quality at every step.

10. Enhanced Competitive Advantage

  • Unique Products: By working with Enventys, businesses can develop unique and differentiated products that stand out in the market, helping them to gain a competitive edge.

  • Staying Ahead of Trends: Enventys is on the cutting edge of market trends, technology, and design, ensuring that the products they help create are ahead of the curve and can take advantage of emerging opportunities.

11. Customer-Centric Design

  • User Experience Focus: Enventys places a strong emphasis on designing products that meet the needs and preferences of customers, often using tools like user personas, usability testing, and customer journey mapping.

  • Market-Driven Solutions: With a deep understanding of market demands and customer behavior, Enventys helps ensure that the end product resonates with the target audience, driving adoption and loyalty.

12. Sustainability and Innovation Integration

  • Sustainable Design Practices: Enventys specializes in sustainable product development, integrating eco-friendly materials and processes, which can help businesses meet regulatory requirements and cater to increasingly eco-conscious consumers.

  • Long-Term Vision: Enventys focuses not only on short-term product success but also on long-term viability, ensuring that products remain relevant and sustainable over time.

13. Access to a Network of Partners and Investors

  • Connections and Partnerships: Enventys has extensive networks with suppliers, manufacturers, and potential investors, which can be leveraged to help bring a product to market or secure funding.

  • Investment Attraction: A well-designed, innovative product backed by market research and a solid development plan is more likely to attract investors, and Enventys can help position the product to secure funding or partnerships.