Product: How To Start A Product-Based Business

In this module you will learn:

 - Your 5 alternatives for bringing products to the market

 - What factors influence which method you choose? That is, the pros and cons of each of the five methods

This is especially useful information because many people fall into the trap of making their own products without considering other production methods. 

Often, people don't even what their options are. Don't start making products or getting products made for you without this critical knowledge on your alternatives.

In this module you will learn:

 - The expected cost of launching a product line

 - How much should you expect to spend each month on running your business,

    - e.g. cost of accounting, email management, website maintenance, graphics, etc.

By the end of the lecture you will have a list of all the main costs you should be thinking about so that when you price your products you don't miss anything important and in doing so unknowingly underprice your product(s).

In this module the following questions will be answered:

•  What are contract manufacturers?
•  How does contract manufacturing help you grow your business?
•  Where can you find a good contract manufacturer?
•  What questions should you ask a contract manufacturer before hiring them?
•  When should you expect to pay a contract manufacturer for development?
•  You will also receive details for an outstanding package designer. He designed the box and tubes for the Queen of Kinks product line.

This knowledge is critical because it can save you a lot of time and money in creating and selling custom-made / branded products.

In this module the following questions will be answered:

• What is an RFP?
• How do you write one?
• When do you write one?

This knowledge can help you to find the best company to make your products and the most affordable price.

In this module the following questions will be answered:

• In what ways can you source suppliers?
• How can you use eBay to find a manufacturer?
• How can you source suppliers from China?
• How can you ensure you get a high quality product from China?
• What products should you avoid getting made in China?
• How and when do suppliers expect to be paid?

This module will help you to:

• Understand the retail supply chain
• Get to grips with the limitations of different intermediaries in the supply chain
• Understand the difference between margin vs. mark-up

When you start selling into physical stores you will be annihilated if you don't have this knowledge. 

You cannot go into a meeting with say a Walmart or a Tesco buyer without knowing this stuff otherwise you'll come out with a deal, a deal that simply might not make the profits you need to keep your business going.

In this module you will learn:

• How to price your product
• The difference between a wholesale price and a retail price
• Cost-plus pricing vs. market-oriented pricing
• How to slash costs & hence price

Knowing how to price a product appropriately makes the difference between running a profitable, sustainable business and going bust.