Final answer:
In business, the success of a product involves not only its inherent quality but also elements such as having a clear vision, securing early-stage financial capital, investing in technology and human capital, and assembling a strong team with the technical skills and motivation to execute the product development process.
Step-by-step explanation:
The question 'Good products most times sell itself' can be linked to a fundamental concept in business, which is the quality and viability of a product or service. While a good product may attract customers, there's an intricate process behind making and selling a product that truly 'sells itself'.
Firstly, having a vision and understanding what customers need is crucial. This drives the development of products or services that fulfill a gap in the market, sometimes even before consumers realize they need it. A visionary entrepreneur is typically self-motivated and success-oriented, bringing innovative ideas to fruition.
Early-stage financial capital is another critical aspect. Startups with a prototype or a new idea may struggle with acquiring funding because they have no customer base and no profits to show. They must persuade investors of their vision's potential and promise of future returns.
A successful firm tends to be one that has not only a strong vision and product but also involves heavy investment in human capital and technological innovation. Working in a sector that provides incentives and a supportive economic environment can also contribute to a firm's success. Finally, having the right team that resonates with the company's mission and possesses strong technical skills is essential, as it enables proper execution of the idea and drives the product toward market success.
In summary, while a good product is important, success in the market involves a combination of factors, including vision, financial strategy, human capital investment, technological advancement, and strong team collaboration.