It goes without saying that your new product ideas need to be just that. So make sure that you check the market for similar products, whether it’s a new idea or unique versions of an existing product. You can also carry out a patent search. Google have a search patent option now, other resources can be found at; https://www.gov.uk/search-for-patent
It’s obvious but you need to be sure that you don’t waste time developing a product or product variant that’s already out there.
Once you have established that your idea is unique then it’s time to start the development process.
There is allot of work that can be done without spending any money, i.e. honing your idea and making sure you have a clear idea of what you want to achieve with your new product. You might also want to sketch some ideas to better convey them to your partner developers. You might also discuss and decide where your new product will fit into the market place, where it will be sold as well as setting a viable retail cost.