Gwen Has Just Nailed The Development Costs For Her New Product Development Idea!

Finance your NPD Development Costs with Innovolo

Gwen Naylor was a small business owner based in London who experienced a major loss in revenue due to the recent Extinction Rebellion protests.

She quickly realised that she would need to increase her product offering to avoid the risk of it happening again.

Three weeks later while out on her morning jog, she had a eureka moment.  A fantastic new product development opportunity popped into her head.  This would help steer her business in a new direction with her existing customer demographic and beyond.

Gwen heard about the Innovolation Framework from one of her friends up country, and thought she’d pitch the idea to us.

She had a problem.

Cash was tight.  Very tight.  The business was down to the last £10K in the account.  She had invested her savings into the business already.  Yes, she had a small overdraft facility, but really, she didn’t want to use that.

We reckoned that this new product development costs would top about £140K, but time was of the essence.  If we didn’t get moving with it quickly, there would be not much point Gwen doing anything more on it.

She tried to get loan from the high street bank she’d banked with over the past decade, but they were unable to help with the short-term request.

We simply bolted on the missing R&D finance module, and through our lender, successfully approved the full facility of £140,000.

Gwen agreed to go ahead a few days later.

A representative was scheduled to visit her the next day and had the documents signed at her home office.  Within a matter of days Gwen was in receipt of funds and asking us to speed up the development of the new product.

We obliged, and her development costs were covered.  Bingo!

 

 

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I find this confusing. On one hand it talks about nailing the new Product development while the other is about losses too? How can you say you nail it if it is a negative or in this case a loss?Anyway, great article.

I really hope this kind of thing will be elaborated clearly.I am partially confused.

Great story, I see how your company can really help people to achieve their goals, in this particular case money and new product development in the right time were really necesary to save Gwen bussines.

This is a good example of innovation done right. Many thanks for sharing Gwen’s inspiring story!

I wish a new product development idea would pop up in my head while jogging like Gwen. She’s a lucky one haha

I like how Gwen was able to convert her idea into a great product design. That’s a great innovator right there.

Identifying challenges in the world and developing a viable problem solution is what makes a great innovator. Gwen does have that unique quality.

It’s impressive how Gwen nailed a physical product development idea that worked with her existing demographic and beyond. She remains a big inspiration for many myself included.

Idea generation comes naturally for Gwen. That’s a quality I wish I had.

Innovation is the key to new Product development achievement. So I encourage and preach innovation to you all.

There are many lessons to be learnt from Gwen on how to create ideas. I hope we all heed to them.

If we could all churn out new product ideas like Gwen does the world would be a much better place. I am impressed by the article.

The idea commercialisation part of this was so well executed. I find the story inspiring.

I must admit that from this article I have learnt how to make money from my idea. I look forward to more articles like this one.

The write up clearly shows why innovation is so difficult. You really have to appeal to the right demographic to make it!

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