There comes a point where every creator of a new product has to decide how much they’re willing to dedicate to see it live up to its full potential on the market. If you’ve spent your time designing and building a product yourself to sell it on the market, only to find that there’s much more demand for it than you thought there would be, that’s a difficult opportunity to pass up.
Here, we’re going to look at what you need to do to make sure that product can make it in the real world as more than just a side hustle.
Get ready for relaunch
While handcrafting your own products, you might already have more demand than you’re able to supply for, so worrying about branding and advertising isn’t too much of a concern. When it grows beyond that point, however, you have to consider giving it a real product launch. Creating an effective brand story and a marketing strategy, relying on social media, trade show demonstrations, an advertising campaign and the like can help your product’s chances of success when it does hit the market for real.
Prepare your production line
Of course, when you’re scaling your production volume, you also have to scale the means of production. Though not all products are made in a manufacturing line, the majority are. You need to look at investing in the space you need, as well as figuring out how to systemize the steps of manufacturing, what equipment you and your team will need to make it as efficient as possible.
You don’t have to do it all alone, either. If you’re unable to carry out every process yourself, whether you don’t have the expertise or it simply relies on equipment that you can’t afford, outsourcing parts of production to teams like WES hardmetal engineering can help you greatly. Create the production workflow and decide what you can and can’t handle yourself, then find the partners you need to pick up the rest.
Setting up supply
When generating a much higher volume of products, then you have to deal with the logistic questions that come with it. Not only does that mean finding those who will distribute your product (if you’re not exclusively selling it yourself) but also ensuring that you have the capabilities of storing and transporting a much larger volume.
You may be willing to purchase both the storage space and the transportation fleet that you need, but if setting up a production line is too costly, you may not be able to. Fulfilment services like Red Sky Fulfilment can help you, providing ready-made logistic support that can fill in those gaps. In time, you can bring things in house, but you’re not out of options if you don’t have the funding for it right now.
It costs a lot of time and effort to make sure your product is ready to excel on the wider market. Make sure that you figure out the costs and acquire the funding you need before you start making that investment so you have the best chance of creating a sustainable, effective business.
