Getting Your Product Off The Ground (Video)
Getting Your Product Off The Ground
Creating your own product is a huge undertaking. From raising the money by trying to woo investors to developing your product with the help of product development companies to going to trade shows to sell your product to those willing to buy, creating a product and making money off of it is a multi-step process that can be rewarding.
Raise the Capital
Let’s face it: your plan, no matter how great it sounds in your head, is not going to get anywhere without raising the necessary funds in order to get the ball rolling. Perhaps you know some friends that have some disposable income to invest, or maybe you know where to find rich people ready to unload some money on an once-in-a-lifetime product; either way, finding the right people with the right amount of money is an important early step in creating this brand-new product that is going to revolutionize they way we think of thinking. Set up a meet and greet with potential investors and work on selling not only your product, but yourself as well.
Develop Your Product
With a great idea on paper and the money to make it a reality; it’s now time to get the product developed. Companies that deal with product development are the best way to get your product off the page and into your market. They will take the necessary steps to develop the product and get it ready for sale. It is important to look into your patent options. If this is an entirely new product, you’ll want to protect yourself from someone taking the patent rights away from you.
Get Your Product Out There
You’ve got the money, and you’ve made the product, now it’s time to sell your product. You can’t just walk into a brick and mortar store and get them to buy it; not unless you’re only looking to sell on consignment. If you’re looking to sell wholesale to stores, start by going to trade shows. This is where buyers will go to look for the next great product to put in their stores. You can either rent your own booth or go from booth to booth showing off you product. Giving a demonstration of your product in action is the best way to get buyers intrigued and can lead to making partnerships with customers.
Patience in the process is important when developing a product from scratch. It can take a lot of people saying no before the right person comes along and says yes.
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Eric Regan is a writer who loves to see what the world has to offer. He has written for blogs covering various topics