solving the sourcing puzzle: from dead stop to launch in 90 days
DESCRIPTION
Originally presented at RISE Austin 2013 Got a great idea for a killer product? Great news- it's never been easier to get a physical product made. From Chinese manufacturing to kickstarter to facebook and twitter, costs and barriers to entry are falling right and left. BUT- 80% of new products fail! This session will give an overview of niche selection, product ideation, funding, factory identification (surprise: China may NOT be the right choice!), all the way through shipment and product launch. Bootstrap, Lean, and 4HWW techniques to mitigate risk and raise your hit rate will be discussed, with an emphasis on actual experiences succeeding (and failing) at the product game. The host, Peter Keller, has been designing, sourcing and launching new products since 2005. In 2010, he founded FringeSport, where he launches an average of 2 new products a month.TRANSCRIPT
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Solving the sourcing puzzle
Dead stop to launch in 90 days
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I promise:Interesting actionable
discussion
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I love questions,And the door is open-
please leave if you want to (really!)
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Goal: Successful product launch in a
entrepreneurial or SMB context
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80% of product launches fail
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CHEAT the statistics
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How?
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Front-endNiche selection
Product validationDe-downside the launch
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Back-endEngineering/devFactory selectionQuality assurance
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Understand risk
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Hedge the downside; preserve the upside
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Front end
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Niche selection
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There’s a hole in the market, but is there a market in the hole?
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Niche bottom-up, not top-down
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Rip, Pivot and JamFour Hour Work Week
RedditeBay
AmazonSearch trafficCanton Fair
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Product validation
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The purpose of validation is to add predictability
and decrease downside… not to make money
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LeanMVP
Squeeze pagesSample orders
Fake it ‘till you make it
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De-downside the launch
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What is the worst case?
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Can you live with it?
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Back end
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Engineering / Dev
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Piggyback- find a factory making a similar product
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AlibabaCompetitive intelligence
GoogleTrade intelligence
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New design- yours
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YourselfFriends
ID companiesOdesk / Elance
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New design- work with factory
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Find a factory that creates similar products
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It’s a shortcut
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BUT
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It comes at cost
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IPCommunication
Long term relationship
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Factory selection
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AlibabaGoogle
Trade intelligenceCompetitive intelligence
Canton fairCommodity -> region
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Quality assurance
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Do it Do it Do it Do it Do it
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China- $300/day
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US- pictures, samplesPayment termsLegal options
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How you treat QA problems molds the
future behavior of the factory
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Don’t be so anxious for your product that you cut
corners on QA
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Timeframes
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Simple engineering takes weeks
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Complex engineering takes years
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Shipments from CN take 30 days on the water +
30 days lead time
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Don’t miss your window
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You can do this. Test and de-downside.
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Find help
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Onlinereddit
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Sourcing and industrial design companies
Silkroadintl.netmakeshiftatx.com
brightpd.com
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Defined tasksElanceOdesk
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Thanks and good luck!