Try to choose a different product that fulfils the need of people as introducing a similar product will make it harder for you to earn the market share. Select your target market and analyse whether your product has the potential to satisfy the needs of potential consumers to full capacity or not.
Review your expenses including the overhead costs and set the price of your product, keeping in mind your profit margin. If there are any related products, make sure your price is comparatively lower otherwise buyers will show little interest.
Devise a suitable placing strategy for your product. Remember that the effectiveness of distribution channel plays a crucial role in business. Decide whether you want to place your products through a distribution channel or you want to reach the final consumer yourself.
Now is the time to decide promotion plan for your product as with advertising, you will now be able to run the business effectively.
Enlist all your friends and family members, and tell them about your business. Keep yourself open to suggestions. You can also ask them to promote your business through word of mouth.