New business help

Discussion in 'Growing and Managing a Business' started by zerrison, Nov 29, 2009.

  1. zerrison

    zerrison
    uix_expand uix_collapse
    New Member

    Joined:
    Nov 29, 2009
    Messages:
    1
    Likes Received:
    0
    Hi
    My father and I have developed a product that we have extreme confidence in and are a solid product. We have the complete idea and concept down, building the product by hand, and started making pieces for our own house. The product is for landscaping and would be used for decorative purposes. We intend to sell our products directly to the consumer and to major home improvement stores. My question is where and how do we get started with this. How do we find start up money and how do we approach pitching this product to the stores?

    Thank you
     
  2. Fergal

    Fergal
    uix_expand uix_collapse
    Premium Member
    Premium Member

    Joined:
    Nov 18, 2007
    Messages:
    10,578
    Likes Received:
    1,163
    Welcome to Business Advice Forum zerrison and thanks for posting your business questions.

    Can you please tell us what country or state your business is based in?

    Have you got some feedback from potential customers and resellers (i.e. major home improvement stores) on their opinion of your product? This is a very important step, in your market research and to help you evaluate if you will be able to sell the product, once complete. If you have not done this already, I would suggest that it is the next thing that you should be doing.

    Then you could start working on completing a business plan for your business. This will help you to clarify your strategy and direction for the business and to clearly identify the amount of funding you need to get you up and running. You should find the business plan templates linked from Useful Business Resources / Links thread of some help in this regard.

    Please reply with your thoughts and to provide us with a little more info or if you have any further business questions. We will do our best to help you and point you in the right direction.
     
  3. alex2213

    alex2213
    uix_expand uix_collapse
    New Member

    Joined:
    Nov 17, 2009
    Messages:
    8
    Likes Received:
    0
    Have you got a prototype already or lose pieces? My experience is that people want to see in order to believe, so the sooner you have a prototype, the better.
     
  4. stevebarnard

    stevebarnard
    uix_expand uix_collapse
    New Member

    Joined:
    Dec 7, 2009
    Messages:
    26
    Likes Received:
    0
    Hi,

    How much amount do you need? Do you initially start small business, it will save you to get any big loss and you can expand your business gradually. visit Servana (Check my signature) where you can get lots of people who offer money to people with ideas.
     
  5. Fergal

    Fergal
    uix_expand uix_collapse
    Premium Member
    Premium Member

    Joined:
    Nov 18, 2007
    Messages:
    10,578
    Likes Received:
    1,163
    Steve, all I see on the site that your signature leads to is the one word "Success" ?
     
  6. punik99

    punik99
    uix_expand uix_collapse
    Member

    Joined:
    Apr 8, 2008
    Messages:
    30
    Likes Received:
    0
    Re:

    Here is another lead generation company - Indirect Channel Ltd. They provide you with details and requirements of business buyers who are looking for the right supplier. You pay them for each qualified sales lead. Hopefully, they can help you beat that sales target :)

    ________________
    http://www.indirectchannel.com/qualifiedleads/categories
     
  7. TiaWood

    TiaWood
    uix_expand uix_collapse
    Member

    Joined:
    Dec 24, 2009
    Messages:
    42
    Likes Received:
    0
    Exactly. Investors or loaners want to see a risk on your part. They also want to know that you have done your homework and have "tested" your product. A way to do this is just as Fergal suggested by allowing people to try your product in exchange for feedback. This does two things: provides the product with more "credibility" and allows you to pinpoint room for improvement before you pitch to stores.

    As far as start up money, I would do everything in your power to raise your own cash. Budget for initial testing and a few prototypes. Don't feel you need to have it all at once. You start with the first steps and take it one step at a time.

    Just a word of warning: be careful about "feelings". I know it is exciting during the initial idea/implement phase but being overly enthusiastic on your design may lead to thousands of lost dollars. Trust me, I have been there. :) It is better to start small with product testing and take it up by steps if the previous step is successful.
     
  8. rajakishoreseo

    rajakishoreseo
    uix_expand uix_collapse
    New Member

    Joined:
    Sep 23, 2012
    Messages:
    6
    Likes Received:
    0
    Make a website and start online marketing.
     
  9. Mark T

    Mark T
    uix_expand uix_collapse
    Active Member

    Joined:
    Dec 28, 2011
    Messages:
    1,202
    Likes Received:
    230
    Creating a website is one option.

    Another thing is that, why not try to promote your product by organizing a soft launch of your product? It does not need to be expensive. You just have to invite people to attend a short program wherein you would introduce your products. Then adding a bit of free products for them to try. That is step one of your promotion.

    Next is to contact your potential or prospect major home improvement stores and show them your product and how it could help them and their consumers as well.
     

Share This Page