Product: How To Start A Product-Based Business
4.2 (18 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
3,203 students enrolled

Product: How To Start A Product-Based Business

How Ideas Are Turned Into Cash Cows
4.2 (18 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
3,203 students enrolled
Last updated 4/2017
English
English [Auto]
Current price: $13.99 Original price: $19.99 Discount: 30% off
5 hours left at this price!
30-Day Money-Back Guarantee
This course includes
  • 1.5 hours on-demand video
  • 5 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
Training 5 or more people?

Get your team access to 4,000+ top Udemy courses anytime, anywhere.

Try Udemy for Business
What you'll learn
  • You'll be able to decide what product to sell
  • You'll be able to decide whether to make the product yourself or have it made for you by a third-party
  • You'll learn your different options for bringing the product to market
  • You'll discover how to get third-parties to make the product for you
  • You'll be given information on how to decide what quantity to produce or order
  • You'll learn how to set the best price for the product
  • You'll receive a template that will help you find a good quality supplier
Requirements
  • All you need for this course is a computer, internet access and a notepad for taking notes
Description

Don’t start yet! 

The first few steps in launching a product can seem simple, get the product made by any means possible, but…

Before you start making your own products or get someone to manufacture them for you, take this course so that you know all your options for bringing a product to market and pricing it correctly. 

By the time you finish this course you will be able to: decide what product to sell (if you haven’t decided already); decide whether to make the product yourself or have it made for you by a third-party; understand different options for bringing the product to market; discover how to get third-parties to make the product for you; decide what quantity to produce or order; set the best price for the product and you’ll receive a template that will help you find a good quality supplier - if you need one.

Who this course is for:
  • This course is for anyone who would like to start selling products online without taking too much risk
Course content
Expand all 8 lectures 01:15:35
+ Product Creation Fundamentals
7 lectures 59:40

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.

Preview 13:49

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).

The Real Costs Involved In Running A Business - Module 2 (Product)
11:07

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.

Contract Manufacturing - Module 3 (Product)
05:22

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.

Requests for Proposal (RFPs) - Module 4 (Product)
04:14

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?
Product Sourcing - Module 5 (Product)
05:14

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.

Product Pricing (i) The Supply Chain, Margins & Mark-ups - Module 6 (Product)
09:02

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.

Product Pricing (ii) How To Slash Costs & Reduce Price - Module 6 (Product)
10:52

Test whether you're ready to create and bring your product to market.

Product Creation Quiz
12 questions