Bringing a new product to market is not an easy task. It takes an unlimited amount of time and financial resources that you must invest to bring a good product to market. You spend countless hours trying to find an affordable yet first-rate prototyping company, manufacturer, web designer, photographers, etc. in order to bring your dream into fruition. An even harder task is finding the best way to fund your invention. You ask yourself will I use my savings, friends and family investors, angel investor, or venture capital funding?
But what happens once you have crossed the finish line and actually have the product in hand? Many people believe because you have a new product on the market you are an instant success. While I pursued my dream I thought because my product was such a positive environmentally friendly product for our environment it would be. However, my initial presumptions were incorrect.
As a product inventor I want to be up front with you about your task at hand once you do have the product available for sale. These are many issues that you must prepare and brace yourself to deal with during the selling process:
1. Customers will purchase my product because it is a good product. It takes more than just a good product to get customers to purchase. It takes a professional secured website, product branding and most importantly trust. Customers are familiar with the common major household names such as Rubbermaid, but when you are new to the market you have to build trust with your customers.
2. My friends and family will support me. Do not expect all of your friends and family to be your first level of support. Of course you will get some sales from your family and friends, but you should be pursuing a wider niche than your family and friends. You must seek out a wider level of support.
3. Once you have a website customers will flock to you. This is a major misconception. You must find ways to drive traffic to your website. Most businesses incorporate blogs, online videos, press releases, flyers, coupons, etc. into their marketing schemes to get people to their websites.
4. The retail stores will receive me with open hands. This can be further from the truth. The retailers are looking for good sales track records, unless you get lucky and find a retailer that is truly a risk taker then you will have to have some major sales records to provide them with.
5. The media will support you if you have a positive product for the environment. This is not true. You have to almost stalk the media to get free coverage. Everyone is looking for advertising dollars so unless you are very persistent by sending your media kit and press release and following up with media contacts to make sure your story is heard you will not be heard.
About this Author
The Author of this article, Twanda Mobley, CEO of the Mobley's Gate Garbage, Inc. has a new home and office product on the market known as the Glam Can, http://www.theglamcan.com She's an advocate for litter and trash free environments. She can be reached by email at contactus@theglamcan.com or by phone at (773) 934-0796 for media kit or press release requests.
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