So You Want to Sell a Product? Here Are Some of the Things You May Have Forgotten
Creating and selling a product is an ambitious task and one that should definitely be celebrated. If you have the nerve to design and create your product – to take something from a vague idea to a concrete thing that people can buy. that will make lives better, and that might even earn you a lot of money – is an incredible achievement and takes a huge amount of optimism, guts, and self-belief.
That’s all good and well, but among all this self-belief it’s important that you also inject some realism and some reality into your intentions. That is, there’s a lot you need to consider going ahead. It’s crucial that you think about those things before you get too far into the manufacturing process.
Here are some of the considerations that often get forgotten and that you need to take on board…
You can’t just sell any product without ensuring first that it’s safe and it’s not going to cause problems. While some products won’t have much of a safety-element to think about, others can create any number of hazards. If your product is going to be used by children, if it’s going to be used around food, if it transmits or receives radio waves, or if it needs to bear the weight of any kind then you’re going to need to meet certain criteria and possibly gain some certification. This is something you should consider early on in your designs and business concepts. As you may otherwise find yourself having to rethink designs or materials once you’ve already spent money/committed in other ways.
Colors are also important and obviously, you’re going to need to think about these before you order materials. Likewise, it’s also important to bear in mind that the colors you choose for your product will also affect other aspects of your business plan – including your packaging and your marketing. And that needs to be the same precise color code too if you intend to create a consistent image.
Storage and Shipping
Creating a product and finding a manufacturing contract isn’t enough to get it into people’s homes. If you want to actually sell a product. You’ll need to make sure that your stock is stored and looked after and that you’re able to fulfill orders. It’s also worth thinking about where you plan on selling your items. Whether you want to sell them internationally for instance. Again you should consider these points early, as they may affect the laws regarding safety as well as the type of marketing.
Another point to bear in mind is that storage and delivery cost money and that needs to be factored into your budget. Having a rough idea of these figures is crucial as otherwise. You can find yourself eating into your profit margin. It may be that your item actually isn’t profitable and that you need to rethink how you’re going to make it or whether you should be pursuing that concept at all!