Let’s dive a bit deeper into the first point from the prior post :
1. You don’t have a plan.
If you want to accomplish anything, including getting your product on the shelf at retail, you need to have a plan. The plan can be simple or complex, detailed or generic, but it has to exist, and you have to use and reference it!
A plan to get a product to retail could be as simple as answering the following questions:
- Do you have manufacturing, packaging, and landed cost of goods figured out?
- Know what retailers you want to sell to – what types of stores do you want your product in? Cell phone channel? Consumer Electronics? Mass Merchants?
- What are the requirements for those channels? Margin, MDF, Co-op, Returns, etc? You need to know if your margins will let you play in the above channels.
- How are you going to get in front of the buyers for those channels? Are you hiring internal sales people? Are you using a distributor? Independent reps?
- How are you going to ship the product? Will you establish your own warehouse? Outsource with a 3PL? or use distribution exclusively?