This is a bit of an extra tutorial. Dropshippers on FaceBook usually don’t bother making their own product but just in case you want to do that, well, here’s a tutorial for you!
Creating Your Own Product – The Smart Way
I’m a big believer in ‘testing the market’ before you commit your money and time whole heartedly into a business idea.
Creating a product or service for a certain demographic is rarely done right the first time.
In fact, good products are a culmination of a lot of back and forth with potential customer feedback groups and constant critiquing from people external to the business.
Without going into more depth, what I’m trying to say is, don’t spend $5,000 and months/years to develop something without even asking your potential customer if it’s something they want.
Creating your own product can be as simple as buying something from Aliexpress and slapping your logo on it or adding some print to a shirt.
It can get as complicated as completely engineering or redesigning from scratch but whatever it is, my market research process is usually the same.
A Digital Prototype
Anyway you can make a quick sketch of it on photoshop? Or pay someone to?
Why not do this, put it on your store and take pre-orders? The most important thing for a business is to know whether or not it’s next product launch is going to sell. Why spend $10’s of thousands on something when you don’t even know how it will do!?
Selling your product is not easy. It’s something most people figure out via some very expensive lessons. They’ll spend a fortune on development and stock only to bottleneck their sales because they never tested the market.
Don’t be that person. Or if you have been that person in the past, like I have, learn.
Do some research, add your logo to a product on Aliexpress and try make some sales. Put it on gumtree, put it on eBay, see what happens! What do you have to lose? Better to know what the response is before going all in.
Getting suppliers to work with you on your new product used to be very difficult. Now with Aliexpress and Alibaba being common marketplaces for people to communicate directly with suppliers who own factories and manufacturing plants, it’s as easy as a Skype conversation.
Simply message some suppliers on Alibaba and give them a description and image of what you’d like. After some back and forth communicating your supplier will get a feel of what you want, go ahead and make a prototype for you or tell you how the initial phases of product development works.
Don’t be afraid to shop around. In fact, I’ve contact 10-20 suppliers when asking for quotes and seeing who I can communicate best with.
Suppliers, especially if it is a customised product, require a MoQ. (Minimum order Quantity). Different suppliers will ask for different MoQ’s.
From as little as 50 to all the way up to 1,000. Just because they state ‘1,000 MoQ’ doesn’t mean you can’t hustle them!
I had a product that took me a good week to hustle for. Ended up bringing down the cost of product from $10 to $5.60 and an MoQ of 50 when most suppliers asked for 500.
Although the products are quite cheap in China, the shipping cost can be a hefty price to pay. They get charged on a variety of parameters but the main one is weight.
My parcel was 20kg and it cost me $150 USD in shipping!
You can use external freight companies that can handle the shipping from China to you. Play around with these pricing and see what you find.
Logo’s and Branding
Again, Alibaba has made this process insanely easy. You can buy branded boxes, gift bags, pens, everything you need from Alibaba. There are plenty of suppliers that do this work and have great quality products. They can print your logo on your box for you.
Putting it All Together
There are many costs with selling your own products. From raw product costs, to shipping, to logo stickers, branding, packaging, etc. You will learn these along the way.
Don’t be afraid to make mistakes. You only learn by doing and there’s no point trying to be perfect when failing is the natural path to success.
I’ve interviewed business owners who spend $1’000’s on their initial products which failed miserably only to find something that now makes them six figures.
Stop worrying and start doing.
Make Sure You check out ecomuniverse.com