Tag: Return on Investment

4 Easy Ways For Small Businesses To Slash Product Development Costs
Opinion

4 Easy Ways For Small Businesses To Slash Product Development Costs

Every year, thousands of new products are launched by companies all over the world. And yet, the ones that stick out in the average consumer’s mind belong to a minority of companies that maintain a sizable market share. We’re talking about the global giants in different industries: Apple, Toyota, Unilever, Amazon and more.

These giant companies may only launch a dozen or more new consumer products per year and yet they get all the attention! The other (vast majority) of new products are launched by small businesses. They have to fight for the scraps of what’s left for market share … Read More »

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Nurture Your Business With Innovation Management: 5 Keys to Success

Introduction About Innovolo

Innovolo Ltd is a U.K.-based product development and design consultancy team. We eat, sleep and dream of innovation. As a team of creative problem-solvers, designers and engineers, we love to turn ideas into a reality and help promote innovation by collaborating with exciting businesses.

When a project needs an extra resource or when a business is facing a critical phase of growth, we can help solve the complex problems and simplify the innovation process so that they can create excellent and exciting new products.

One of the biggest barriers to innovation that we witness is a lack … Read More »

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How Much Should I Spend On R&D and Product Development?
Opinion

How Much Should I Spend On R&D and Product Development?

Many business owners look for that “Holy Grail” statistic that gives them all the answers. It’s true in all sorts of situations, like “how many staff should I hire?”, or “what price should I charge?”. Trying to predict these answers as a universal truth is a difficult (if not impossible) challenge. For the most part, it all depends.

The answers to the all-important questions can depend on the type of business, the size of the business, the industry in which the business operates, and the business’ stage of growth or maturity.

In this post, we answer some common questions when … Read More »

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Understanding Your Product Development’s Return on Investment
Uncategorized

Understanding Your Product Development’s Return on Investment

Product development can be a lucrative investment. However, just because it can be rewarding doesn’t mean it’s not risky. Your return can depend on lots of factors that are beyond your control.

To get a better picture of product development, let’s look at the theory behind why inventions can be lucrative for your chequing account. Then, we’ll look at why governments and the private sector enjoy huge returns by funding inventions.

Last but not least, we’ll look at some examples of truly excellent returns enjoyed by entrepreneurs and inventors.

How to evaluate (and predict) your returns

You can evaluate whether … Read More »

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