If you have a unique idea that you’d like to develop and bring to market, there has never been a better time for you.
That is not just hyperbole and I will tell you why.
But first, let’s look at the major hurdles that face a small business or entrepreneur starting down the road of product launch planning.
1. Cost effective design & development work
It used to be that to hire a designer, build a prototype, and do product testing would cost you tens of thousands of dollars. Not anymore. Sites such as Elance.com have brought thousands of professional contractors together and given small businesses the chance to choose from a pool of professional help, from web design and creating an awesome logo, to product design and manufacturing.
Services like the ones that we provide here at sourcing overseas have also done a lot to bridge the gap for small businesses and provide a simple, cost effective way to bring your idea to life.
Any product launch planning would be incomplete without a budget plan. Even with the low cost alternatives out there you still have to pay out of pocket for services and tasks that you can’t do on your own. With the explosion of freelance sites it means that up-front development and staffing costs also go down for small businesses. Add to that the introduction of crowd-sourced funding options like Kickstarter.com (which is our favorite) and things have just gotten ALOT easier for entrepreneurs with a unique idea to get access to the cash you need to develop and launch your idea.
3. Manufacturing Support
It’s now pretty straight forward to use the internet to get in touch with manufacturers and component suppliers both in your country as well as overseas. B2B websites such as Alibaba.com provide easy access to suppliers and manufacturers all over the world.
If you are relatively inexperienced in dealing with overseas suppliers, we’ve put out a free ebook that will teach you everything you need to know to safely and securely setup your manufacturing. Additionally, if you don’t have the time or resources to travel overseas, there are services out there that you can take advantage of that will not only limit your risk, but also free you to focus your time on other important aspects of your business like the sales and marketing.
4. Marketing & Sales
In years gone by it used to be that only the big players could get shelf space in the large retail chains and only the businesses with millions of dollars in ad money could afford to market their idea in a meaningful way. The Internet has changed all that. Services such as Shopify.com have made it entirely pain-free (and very low cost) for a small business owner to setup an online store, complete with ecommerce, payment processing, and a professional web storefront. Google Adwords has also played a big pat in leveling the playing field. You can spend a couple hundred bucks on Google ads and immediately start driving potential buyers to your online store. Hundreds of internet marketers all over the world are pulling in 6 and 7 figure incomes because of their understanding of how to drive targeted traffic to their product of service offering, using free techniques (like SEO, blogging, affiliate deals etc) and paid techniques like Google Adwords, banner ads, etc. You have access to millions of potential buyers and the small business owner is no longer at the mercy of the big-box retailers to get thier idea out there.
5. Shipping, order fullfillment & After-sales Service
“That’s all fine and well” you say, “but I don’t have a warehouse to store all my future product. If I reach any level of success I will drown in a sea of orders needing to be sent out”. Not so fast. For something like $20 a month a drop-shipping service such as Shipwire.com can help you to process and ship out your orders. This means that you don’t ever need to physically touch your product. It goes straight from the factory to the warehouse, orders are processed directly from your online store and goods are shipped out of your fulfillment center. All you do is cash the checks!
6. Promotion & getting out the word
Start a blog, send free samples to trend setters, setup a booth at an industry trade fair, get on the phone 12 hours a day calling the major distributors in your niche. The Sky is the limit. The only thing standing in the way of your success is you!
There has never been a better time in history to launch your own brand and bring your unique ideas to the masses! So what are you waiting for!
PS. Disclaimer: We aren’t affiliated with the above-mentioned services (aside from our own services and don’t receive and sort of compensation for mentioning them. We simply have found them to be useful services. Do your own due diligence.