Developing new products requires many parts. Some are necessary for creating the product itself and others are needed to follow it through to licensing and on to store shelves. Look at it in seven parts, and ask yourself, which of the following seven parts are most important in new product development?

• Inventing
• Patenting
• Engineering
• Prototyping
• Packaging
• New Product Videos
• Business Relationships

Last week the U.S. Open was held near in Oakmont, Pa., near our offices north of Pittsburgh. Naturally, with a high-level event like that in our backyard, we wanted to take advantage of it by inviting a half dozen of the corporations we work with, or hope to work with, in for a visit. As a business person, I recognize the importance of building honest relationships with businesses, but as an inventor, I think I often focus most on designing and building new products. However, last week a light went on in my head and I made a concerted effort to capitalize on the opportunities presented to us as a result of the interest generated in the golf championship.

It was a fantastic experience. We met their families; they met ours. We picked people up at airports, made them dinner and gave them space to stay in our homes. It was an extremely gratifying week. Not often are we afforded the opportunity to let our guard down and be our true selves instead of maintaining the business side of ourselves with the people we do business. Although these relationships were in the making for many years, it is events like this, combined with the hard work performed with each other, that has formed a critical agreement of trust between our organizations. They need new products, and their commitment to manufacturing and sales is compatible to our commitment to design, development, engineering and packaging.

In this world of ideas, inventing, patenting, prototyping, engineering, packaging and promotional videos, it is imperative that anyone involved with developing new products puts as much, if not more, energy into forming real relationships. When each company believes in and relies on the other, then the magic happens. Of course, it takes all seven points and more, but the point is that nothing happens without that relationship.