Creating and distributing your own products is exciting but also a great challenge. Although the idea and creation of a product are the first stage; the business creation process is definitely much more extensive. Hours of planning and marketing are waiting for you.
The road to sell your own creation is not easy, but the pride you will feel when your customers make their first purchases and love your products; They will make the hard work worth it.
1. Product development.
Developing your product idea is the first step in creating something worth selling. This stage includes the design and purpose of the product to the development of a prototype. The prototype can be done by yourself from the comfort of your home. Or if you need it, you should hire a company or an expert to build a sample for you.
If your product is unique, you will need to apply for a patent to keep other companies from developing a similar product.
2. Test the market.
When you already have a prototype or have obtained samples of your product, it is time to test the market. Show the product to your family, friends and acquaintances to get their reactions (Make sure they belong to the niche that could buy your product). Explain to them what it is about and ask them to give their opinion, being very honest, if they would buy the product, how they would use it and what negative aspects they see in it.
Use this feedback to improve it.
Once you gather enough and “good quality” feedback, that means you are ready to produce more and start selling.
3. Find buyers.
Finding buyers is the next step in selling your product. Learn as much as you can about your potential clients, where they live, how much they earn, how old they are, if they are married or single, if they have children, what they do, etc.
If your buyers are other companies, learn about what type of companies would be interested in your product, who makes the decisions, how they develop new products, etc.
4. Choose distribution methods.
To introduce your products to the market, you will have to make decisions to determine how to distribute. Some companies use a physical store and the Internet; but you can only use internet. Especially if the product is aimed at a broad segment.
If you prefer an indirect method, you could hire a third party to store and distribute your products.
5. Write a marketing plan.
Create a marketing plan to determine how you will communicate the benefits and features of your product. A marketing plan also helps to select the best promotional tactics. Take a look at your competitors, even if they don’t sell exactly the same product. Your product may be unique but you will always have indirect competition that can affect the performance of your company. Always keep in mind how the price and messages of your marketing campaign differ from the competition.
And remember that if you are really interested in creating your own business, you can purchase our book “How to create a company while working: Discover how to manage your time, manage your money and motivate yourself while creating a company and working for another” , where you will find all the information you need to found your own company, without having to leave your job.
