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Greetings!
We are starting this fall off with a great new series called How Can I Sell My Product. Everyone eventually wants to sell their product and this series will give you a lot of good options for that. Don't miss out on this great information.
We also have part 2 of our taste of Sourcing Smarts. Read this taste to see if Sourcing Smarts is a something you need.
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How Can I Sell My Product?
Which Distribution Will Work for You You have a great idea, you
do the market research, product design, apply for a patent, find a
manufacturer to make your product and then you think: How do I sell my
product? There are many ways to sell products, really you are limited
only by creativity, yet many inventors get stuck in thinking they need
to sell to retailers. What other options are there? We will discuss
some of these options, and which products work best with them, in a
four-part series called How Can I Sell My Product. Read on...
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A Taste of
Sourcing Smarts
Check back here in the newsletter for
"A Taste of Sourcing Smarts," where we'll feature essential excerpts from the
new book, "Sourcing Smarts: Keeping it Simple with China Sourcing and
Manufacturing" by Edie Tolchin, Don Debelak and Eric Debelak. Today's
"taste" will discuss the pros and cons of sourcing in China. Last newsletter we featured the CONS, and in this issue we are featuring the PROS:
Pros:
1) Quality: Over the many years I have been involved in sourcing, Asian factories have improved their workmanship. Just make sure that your correspondence is completely clear and that you have good working prototypes with easy-to-understand specifications. The old saying goes, "less is
more," but in this case that most definitely does NOT apply. Never worry that you are sending TOO MUCH information. The more accurate data you can furnish to the prospective supplier in Asia, the better the quality of your product will be.
2) Attitude: Most Asian suppliers are very interested in establishing a good business relationship with you. They will be eager to please you with the hope that you will continue to work with them for reorders once your product has become successful!
3) New jobs? Many worry that if they source their inventions in Asia, it will take away from jobs in the USA. This is not necessarily true. Sourcing and manufacturing products in Asia in turn opens up numerous business opportunities here at home in logistics, distribution, computer graphics, sales and marketing. For example, dockworkers will need to unload your shipment off the vessel and send it by truck or rail to your warehouse, storage facility or distribution center. Your graphic artist will design your logo, labeling and packaging. And don't forget about the U.S. marketing firm that could get you some good PR. Once your product(s) are selling, reliable domestic trucking firms can make deliveries to retail outlets all over the USA!
4) PRICING, PRICING, PRICING! Did I say, "pricing?" Many new products can be sourced in China, depending on the industry, for anywhere from 1/2 to 1/8 of what it would cost to be manufactured in the USA. This is an obvious advantage to new business start-ups!
Stay tuned for a future "Taste of Sourcing Smarts" in our next newsletter. To purchase
"Sourcing Smarts: Keeping it Simple with China Sourcing and Manufacturing"
by Edie Tolchin, Don Debelak and Eric Debelak, go to www.egtglobaltrading.com, www.sourcingsmarts.com, or www.amazon.com.
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