Friday, November 18, 2016
The 7 Steps of Effective Product Development
Toni Ko came up with this idea of a pencil eyeliner. Although at the time in 1999, they didn't exist. She wanted to pursue in making this product and also to make lip liner. She had borrowed $250,000 from her mom to get the product started. she didn't have any type of experience making makeup but she wanted to do it anyways. The key to selling a product is good, simple packaging so that's what she started to design first. Ko was going to sell her product for $1.49/ $1.99. Toni's first year in business she got $2 million in revenue. Ko also founded NYX cosmetics. NYX cosmetics is now a huge, world wide known makeup company with great, affordable products. The article mentioned that it took eight years for Toni to start selling her products in a big name store like Ulta. This article just gives you an example that you work hard for things you want in life. Hard work will always succeed. If Ko would've never believed in her product and never pursued it we wouldn't have NYX cosmetics today which is a big name brand. You can read the article of Toni's road to success and also get seven tips on how to pursue your own idea and get a little advice.
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