Persistence - Is It In You?
Persistence - Is It In You?
Secondly, once you have a product that you think is viable you want to get feedback from some friends and strangers first. Why? You should have a sample before you make alot or order alot from some company overseas. You will get many reactions from your product; prototype or sample; some good maybe, some not so good. What you must do is take that constructive feed back and/or criticism and determine what works well and what you can change to make the product more sellable or attractive. However, remember this is just a small sample and does not mean it is the same as the actual end result.
Now that you have received some feedback and maybe made some changes you need to get a greater response. You need to have some units to take to a store and some legal documents that you can use to get your item in the store, whether it is on credit, consignment or a straight trade transaction.
No, you don't have to go straight to Wal-Mart, this may be possible, but it is good to test smaller stores in your local area first. You want to maintain as much control of your product in the beginning as possible and build a base. If you go straight to Wal-Mart you will have to meet large order quantities and wait for your transaction return for several months. Building a cash position by selling to smaller stores first can help you down the road and also gain some free exposure and limit risk. The only thing you may have to worry about is the timeline, you must keep the product unique before others copy or imitate it from China or locally.
At this point you should have completed several transactions or have someone negotiate contracts professionally for you. After this stage you may seek financing from banks or other investors, perhaps angel investors, or friends providing you can guarantee some type of quality return. This will help increase your production time and turnaround capacity.
These are some of the things I have learned along the way while running a small import business while in high school. Good luck and keep persisting, there may be a different opportunity or solution along the way.
You can find more information in Canada on the Strategis website. www.strategis.ic.gc.ca
Mr. Des Marais has operated small businesses for over 20 years. He has been a consultant and held positions in some of the fastest growing franchisees in Canada. He is a private partner in http:/www.businessgrowth.ca
He has increased sales by 200% in 2 months for an herbal doctor; increased sales by 30% in 4 months for a major Canadian Big Box Retailer; 200% sales increase 3 times in a row for a service-based small business and helped several entrepreneurs develop and sell their business. His expertise is in the area of growth and business development. He has also been involved in developing business chapters.
In terms of Business Development and mentoring Mr. Des Marais has volunteered with S.E.E.D.S mentorship review committee, ACE, YEA.
Article Source: http://EzineArticles.com/?expert=Daryl_Des_Marais
Persistence Is It In You - To learn more about this author, visit Daryl Des Marais 's Website.
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Getting your product into stores can be especially hard when you have not been down this road before. Having been there, I can give some advice as to what needs to be done. First of all you need to make sure your product is fully functional, of great quality and passed all government regulations and tests. This Industry Canada website gives a lot of information for someone looking for answers to some of their business start questions.
Secondly, once you have a product that you think is viable you want to get feedback from some friends and strangers first. Why? You should have a sample before you make alot or order alot from some company overseas. You will get many reactions from your product; prototype or sample; some good maybe, some not so good. What you must do is take that constructive feed back and/or criticism and determine what works well and what you can change to make the product more sellable or attractive. However, remember this is just a small sample and does not mean it is the same as the actual end result.
Now that you have received some feedback and maybe made some changes you need to get a greater response. You need to have some units to take to a store and some legal documents that you can use to get your item in the store, whether it is on credit, consignment or a straight trade transaction.
No, you don't have to go straight to Wal-Mart, this may be possible, but it is good to test smaller stores in your local area first. You want to maintain as much control of your product in the beginning as possible and build a base. If you go straight to Wal-Mart you will have to meet large order quantities and wait for your transaction return for several months. Building a cash position by selling to smaller stores first can help you down the road and also gain some free exposure and limit risk. The only thing you may have to worry about is the timeline, you must keep the product unique before others copy or imitate it from China or locally.
At this point you should have completed several transactions or have someone negotiate contracts professionally for you. After this stage you may seek financing from banks or other investors, perhaps angel investors, or friends providing you can guarantee some type of quality return. This will help increase your production time and turnaround capacity.
These are some of the things I have learned along the way while running a small import business while in high school. Good luck and keep persisting, there may be a different opportunity or solution along the way.
You can find more information in Canada on the Strategis website. www.strategis.ic.gc.ca
Mr. Des Marais has operated small businesses for over 20 years. He has been a consultant and held positions in some of the fastest growing franchisees in Canada. He is a private partner in http:/www.businessgrowth.ca
He has increased sales by 200% in 2 months for an herbal doctor; increased sales by 30% in 4 months for a major Canadian Big Box Retailer; 200% sales increase 3 times in a row for a service-based small business and helped several entrepreneurs develop and sell their business. His expertise is in the area of growth and business development. He has also been involved in developing business chapters.
In terms of Business Development and mentoring Mr. Des Marais has volunteered with S.E.E.D.S mentorship review committee, ACE, YEA.
Article Source: http://EzineArticles.com/?expert=Daryl_Des_Marais
Persistence Is It In You - To learn more about this author, visit Daryl Des Marais 's Website.
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