Ep 292: Factors to Consider When Launching a Product with Liz Long, Learn to Make a Product
Whether you are building a new business or an existing business, planning to launch a new product requires a lot of knowledge of the path forward.
In this episode, Learn to Make a Product Founder Liz Long talks about where to go, what kind of factories to look for, and all the things to think about before launching a product.
Listen up and take notes.
KEY TAKEAWAYS FROM THIS EPISODE
Figure out what kind of design assets you need, how to get those things, and how to find a factory that will produce the item.
Going through a checklist when finding the right factory eliminates a lot of the problems.
One of the misconceptions about Alibaba is that it's just junk suppliers.
Send someone who audits factories to the factory to give you a report. That would give a couple of hundred bucks and a ton of peace of mind.
You need to be aware of intermediaries who are posing as factories.
As you grow, you need to have quality control access to your factory.
After finding the right factory, the next steps are the creative stuff such as website and brand building.
Start the basics of brand building once production is underway.
One of the mistakes people make when starting a brand is that they underestimate photography.
Plan everything out in advance, every last detail.
Delay costing decisions until you go out and get thorough quotes.
When you've done your research well, you'll understand all the scenarios and future pricing.
People who could have and keep a unique brand identity will make it and scale successfully.
Even just a half-hour conversation with an expert can help people move forward and see the things that they're not seeing already.
Recommended Tool: Loom
https://www.loom.com
Recommended Podcast: The All-in Podcast
https://www.allinpodcast.co
Today’s Guest:
Liz Long is the Founder of Learn to Make a Product. While learning about product development for her business, she thought of sharing what she knows in hopes of helping other entrepreneurs avoid the mistakes that she went through. This paved a different path for her that led to founding Learn to Make a Product.
Learn to Make a Product teaches entrepreneurs how to design, source, and manufacture ANY physical product - and turn it into a successful business!
Connect and learn more about Liz and her company here:
Website: https://www.learntomakeaproduct.com
Instagram: https://www.instagram.com/lizrlong
This episode’s sponsor is KnoCommerce - the first survey platform built for eCommerce brands. Gain insight on everything from marketing attribution to purchase motivation, while leveraging your customer data for enhanced personalization.
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