Working in the product based industry means we, as a team, get to see a lot of products successfully launch into retail, and a few that do not quite make it. Here are our Top 5 Tips for Launching a Product into the retail market:-
Tip One – Always have a business Plan
Having a business plan will help you focus your workload, and see where you are aiming and how to get there. Without a plan, you will not know your key milestones, objectives or if you have been truly successful in launching your business.
Tip Two – Always Assess your Financials
Financials are what enable you to run your business successfully. You need to be aware of your outgoing and incoming sales and ensure the two are fully supporting each other. By managing your finances and keeping on top of orders, costs and product you will be able to highlight future issues in cash flow or see where you can afford growth.
Tip Three – Surround yourself with Supporters
Surrounding yourself and your business with supports is very important. They can not only offer you key advice around the launch and products within your business but they can help you find new customers to be involved and purchase your items! Always ask friends and family for their help and whilst their views are important – always be proud of your brand and believe in your own choices.
Tip Four – Be prepared for Knockbacks
Launching a business is difficult and never runs smoothly. Be prepared for it to take twice as long and cost twice as much as predicted. Be aware that people and buyers will knock you back, but do not give up. Get back up, dust yourself off and keep going.
Tip Five – You are Your Brand
You are your brand so live and breathe it every day. Remember you represent your brand at all times, in the way you walk, the way you present yourself and the events and company you keep. If you want your brand to be successful, YOU must act in the same manor.
At Portcullis Market Access we are specialists at launching product based items into the wider retail global market. Want to know more? Have a look at our Projects Page, or send us an email via our Contact Us page.