Things to Consider When Creating a New Product

If you're thinking about creating a new product for your business there's a lot you need to keep at the forefront of your thoughts. When you have a new idea it can be exciting and you want to jump right in and test whether or not it will bring in some much-needed capital into your business.

However, before you forge your head you need to put some brakes on your ideas. This is because you're going to need to go through a few steps to make sure that you are not wasting your time. Here's a look at the things you should do when you want to create a new product.

Do Market Research

Market research is the first thing you're going to need to do. No matter how great the idea you may have, if there is no demand for it then you're wasting your time and your business capital.

You want to do market research to see whether people will be willing to buy your product. Once you have validated that there are customers for it you can move on to the next step.

Unique Selling Proposition

In the next stage of the entire process, you're going to look at the unique selling propositions of your product. How is it different from what is already out there? Why should someone buy it as opposed to another product?

You have to make sure that you have some kind of innovative features that are superior in quality that will catch your customers' eyes and get them to reach into their wallets.

Product Design and Development

The next thing you're going to do is to make sure that you put a design and developmental system in place. This is the only way that you're going to end up with a high-quality product to put on the market.

You may have to get other people to assist you or select the employees that are skilled to help create the product. If you have to do the creation of a product that requires a lab, you can use lab facilities that are located in your area.

In some cases, you might have to get manufacturing help from outside of the country but with all the communication technology available this should be a breeze.

Do a Cost Analysis

You're going to need to do a cost analysis of the product that you are creating. You don't want to have to empty your company's piggy bank to create a product.

You need to make sure that you are going to make enough of a profit based on what you will be spending to actually create the product in the first place.

You don't want to shoot yourself in the foot. It's up to you to make sure that you're going to get back every penny that you are spending and then some. The type of products that you are creating should create a sense of excitement in your existing customer base.

You do a survey and find out if excitement is bubbling up in them to see a new product. This can gauge how successful it will be.

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5 Everyday Items That Can Quietly Boost Your Brand

By Julie Starr • July 17, 2025

The best branding doesn’t always come from big campaigns or expensive graphics. Sometimes it’s the smaller stuff that leaves the biggest impression. Things people actually use, touch, or carry with them. That’s where your brand can quietly make its mark without needing to shout about it. If you’re only focusing on social media and business cards, you’re leaving a lot on the table. Here are five overlooked ways to get your name out there that feel natural, useful, and more personal. Thank-you slips If you’re already sending out orders, there’s no reason not to include a short thank-you slip. You can easily get these made through any decent online print shop , and they’re usually pretty cheap to run off in small batches. Just a simple note that says thanks, maybe with a reminder to follow you online or a cheeky discount code for next time. It’s quick, thoughtful, and makes the whole order feel more finished. Customers notice that kind of detail, especially when everything else they buy online comes with zero personality. You don’t need a complicated design either. Just something clean with your logo, a message that sounds like you, and maybe a social handle. The point is to give them a reason to come back or remember your name without it feeling forced. Branded zip pouches If you sell physical products, offer services, or run events, small zip pouches are surprisingly effective. Think of the kind you’d use for stationery, receipts, or travel bits. You can get your brand printed on the side and hand them out with purchases or include them in welcome packs. People keep them because they’re actually useful. They get tossed in handbags, school bags, or glove boxes and your logo just keeps turning up. Cleaning cloths for glasses or screens This one works brilliantly if you’re in tech, health, beauty, or anything involving screens or eyewear. A simple microfibre cloth with your branding on it can go a long way. Everyone needs one. Whether they use it for glasses, a phone screen, or their laptop, it’s something they hang onto. It’s not the kind of thing people throw away, and that means your name sticks around too. Receipt envelopes You might already use little envelopes to hand over receipts or business cards. Branding those envelopes is a small change that makes a big difference. Instead of someone getting a scruffy bit of paper in a plain sleeve, they’re handed something that feels a bit more finished. You can even add a message inside. Doesn’t need to be anything dramatic. A simple “thanks for visiting” or “see you next time” is enough to add a personal touch. Wet wipes or mini hand gels If your business is in hospitality, food, or anything hands-on, branded wet wipes or pocket-sized hand gels are surprisingly popular. People actually use them, especially at festivals, food stalls, pop-ups, or kids’ events. They end up in handbags or cars and stick around longer than you think. They don’t scream “marketing” either. They’re practical, and when done right, they make your business feel thoughtful. That’s what good branding does, it shows you’ve thought ahead.

How Student-Led ‘Energy Audits’ Are Cutting School Costs (and Lighting the Way Forward)

By Julie Starr • July 14, 2025

What happens when students stop waiting for adults to fix things and start conducting their own energy audits? Money gets saved. The lights get switched off. Data gets analyzed. And a quiet revolution in sustainability begins—inside schools that once overlooked their own inefficiencies. Across the globe, student-led energy audits are proving that change doesn't always need to come from a policy shift or a major capital budget. Sometimes, it begins with a clipboard, a spreadsheet, and a group of curious minds asking: Why are the hallway lights on at noon when sunlight floods the building? The Energy Detectives These audits aren’t science fair projects. They’re rigorous investigations, often done in collaboration with facilities staff, local environmental nonprofits, or even engineering mentors. Students go from classroom to classroom measuring electricity usage, checking for phantom loads , and identifying where heat is escaping in winter or air conditioning is leaking in summer. One high school in Ontario saved over $12,000 a year after its Grade 11 physics students ran an energy audit and suggested simple changes—LED upgrades, motion sensors in bathrooms, and smarter heating schedules. They didn’t just propose ideas. They pitched them with spreadsheets, thermal images, and payback timelines. It worked. Learning That Pays Off—Literally Unlike textbook learning, these audits blend real-world math, environmental science, economics, and persuasive communication. Students aren’t just learning about sustainability. They’re doing it. And the savings add up. From dimming overlit hallways to reprogramming HVAC systems that run all weekend for empty buildings, students are surfacing blind spots that administrators often overlook. In some districts, their findings are influencing energy policy. Elsewhere, the audits have inspired school boards to hire sustainability coordinators—often alumni of the student programs themselves. There’s something poetic about a school funding new books or laptops from money saved by students who found out the vending machines didn’t need to be plugged in 24/7. Why This Matters More Than Ever With education budgets tightening and utility costs rising, every dollar saved is a dollar that can go back into classrooms. And here’s where it gets interesting from a family finance perspective, too. If you’re a parent setting aside money for post-secondary savings, every bit of school efficiency helps. Fewer energy costs might mean more programming, better STEM facilities, or even bursaries. That raises a broader point: when families save for their children’s future, they often look into RESPs (Registered Education Savings Plans). And many wonder—is a RESP deduction available on my taxes? While contributions themselves aren’t deductible, the gains grow tax-free, and students often pay little to no tax when they withdraw the funds during school. A Movement Worth Replicating These audits aren’t just an exercise in environmentalism. They’re leadership labs. Students learn how to spot inefficiencies, speak up in board meetings, and make a business case for change. They don’t just flip switches—they shift mindsets. And they carry these habits into adulthood. The result? A generation growing up not only with climate anxiety, but also with tools to tackle it.