Conducting research on your product helps you sell your idea to investors, licensors, or marketing partners, more importantly it helps sell yourself to manufacturers, reps and others as it shows you have done your homework and know what you are doing, and research also helps you develop a winning product. The three types of research inventors use most often are observational, comparative and price point research. Read the rest of this entry »
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Inventors frequently have multiple ideas. The question is which one to pursue. Other inventors feel like they are creative and can solve many problems and wonder which ones to attack. Even in winning categories there are some products that are better than others. Recognizing winning categories and then the wining products in that category will greatly help you succeed. This article will help you recognize which ideas have the best chance of success. Read the rest of this entry »
The Women’s Information Network. Theme: “Product Safety and Manufacturing in China for Mom-Invented Products”. Turn up the volume!
http://thewinonline.com/
Home Shopping Networks, including QVC and Home Shopping Network, are often ideal spots for inventors starting to sell their product. Shopping networks like to sell products that aren’t available widely in stores, they take smaller quantities than major retailers, but still large enough quantities to justify investments in tooling and packaging, and selling on shopping networks is a much better option to build market momentum than trying to line up a large number of smaller retailers. The shopping networks create enough demand that some companies only sell to the shopping networks, and it is possible to be carried on the networks for years, but they won’t sell enough for you to become a substantial company. Your best choice of action is to sell through the shopping networks to build momentum, and then use the success in those markets to generate a wider distribution network. Read the rest of this entry »
This article discusses resources for the housewares industry but later at the end also discusses how to find similar resources for your industry. So read on no matter what your product is. Read the rest of this entry »
Many inventors have great products that never quite make it to market because the inventor isn’t able to set up a distribution network. Distribution is a term that stands for the process by which a product moves from the producer to the final consumer. There are many types of distribution networks and virtually any of them can be used by inventors. Each of these distribution networks has advantages and disadvantages. This article describes each network, lists its advantages and disadvantages, and points out when it is an effective network for new product entrepreneur. In many cases inventors will choose to purse more than one distribution channel. Read the rest of this entry »
Hi Don,
I can’t thank you enough for providing the names of so many sales reps. I started by emailing just a few sales reps and was able to find my first sales rep quite easily and he now serves as my Master Rep. With his help we redesigned the packaging making the product even more appealing to shoppers. I then recently proceeded to email the other sales reps you provided and the response has been quite insane even surpassing the expectations of my master rep. In a matter of days I’ve had 14 sales reps around the nation contacting me expressing how excited they were about the Pop-up Microlite an were very interested in representing my product line. All of the reps that contacted me sell to major customers including Wal-mart, Walgreens, Home Depot, K-Mart, Sears, ACE Hardware, and the list goes on and on. My only regret is that I waited as long as I did to begin contacting reps. Once my company becomes really profitable I plan to come back and give you a nice bonus because the value of your help over the years goes way beyond the prices you charge. Thank you!
John Teel
MicroliteTech.com
Inventors often start sales at small shows, or exhibitions, often directly to consumers to both test market their product or to generate some income. Small consumer shows have their advantages, but inventors are often better off concentrating on regional trade shows, which are shows targeted at retailers or industrial customers. These shows have several advantages: Read the rest of this entry »