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Journey to developing my own product

Discussion in 'My Journey Discussions' started by youtalkmedia, Oct 10, 2016.

  1. youtalkmedia

    youtalkmedia Senior Member

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    Hi BHW,

    If you know who I am, you will know that I have been around for a while, and I focus on web development and social marketing.

    I have had quite a bit of success with it, but it has always been a dream of mine to develop my own product, or line of products. So now that I have enough saved up, and I am earning enough off of my other ventures, I am going for it, and trying to make my product.

    I decided to go into the apparel/accessories market, and create something that is unique.

    I got my domain and branding all set up, and spent the last week going around and asking people in the business what sells best, why, and showing them ideas for what I want to make. From my top 5 designs, with a ton of help and feedback from people in the field I narrowed/altered down to two designs.

    Tonight I just sent out for samples to be made for the two designs. There will be a 5 day lead time, then most likely around a week shipping (shipping DHL from China).

    I will choose one of the designs and spend between $500 and $1000 to get the first 100 of the product made. Once that is done, I will launch my product on Etsy, and try my best to get it in some brick and mortar stores. (Even if i make no profit margin in the stores)

    My goal for the first year will be to get feedback and to get my product seen by as many people as possible. The cost per product will drop rapidly the more I can order, so my primary focus will be to increase the amount of sales I can make.

    I have spent a ton of time promoting other people's products, so now it is time to try promoting my own.
     
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  2. W9go

    W9go Jr. VIP Jr. VIP Premium Member

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    good luck show us your samples :)
     
  3. FrankB.Ayala

    FrankB.Ayala Newbie

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    unique and very different journey. good luck.
     
  4. knowing25

    knowing25 Elite Member

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    That's is awesome, good luck with your product mate :)
     
  5. i_code

    i_code Registered Member

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    Its nice to see something other than an IG Journey,I'll be following this for sure. Good luck!
     
  6. Saeed Arafa

    Saeed Arafa Newbie

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    Good luck mate ! I will be following your journey.
     
  7. JamesConway

    JamesConway Jr. VIP Jr. VIP

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    Creating your own product is the only way to control every price of the puzzle! Tends to be much more profitable..

    Good luck bro!

    JamesConway
     
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  8. youtalkmedia

    youtalkmedia Senior Member

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    Thanks for all the wishes guys!
    I will post pics of the samples once they come in, and will keep you all informed. I got word that the samples will be created starting today, so hopefully they will come sooner than expected!
     
  9. Gosocials

    Gosocials Jr. VIP Jr. VIP

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  10. youtalkmedia

    youtalkmedia Senior Member

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    UPDATE 1)
    I just got word that my samples were made and shipped out to me. I should receive them on Monday. Next step will be to pick one of them and make a run.
     
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  11. youtalkmedia

    youtalkmedia Senior Member

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    Update 2)
    So today I got my samples in. One was exactly as I hoped, the other not so much. It came in the "wrong color" but it was not the suppliers fault, it was mine. (Good thing I got samples instead of just ordering!) A color on my computer that I thought was red was actually orange. It looked very red on my monitor, however when I printed it out, it was in fact orange.

    lesson 1) Print out colors before sending them out, monitor colors and printer colors are different.

    Pictures attached as promised.
    [​IMG]
    [​IMG]

    To be conservative on my first run I am only going to be printing out one of these. My original goal was something gender neutral, BUT on further study, I found that the majority of customers who would buy these will be female. So, instead of a gender neutral approach I decided to go with the Daisy design. I will focus my marketing on females, and go from there.
     
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  12. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    Good looking stuff... my wife would buy that pink one for one of our dogs.

    I'm sure they will sell well.

    Edit: I just asked her to come in here and look at this and I was right, she would be all over that.
     
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  13. youtalkmedia

    youtalkmedia Senior Member

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    Ill send you a link to the product when it is ready ;)
    Thanks for the encouragement!
     
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  14. Nut-Nights

    Nut-Nights Jr. VIP Jr. VIP

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    Best of luck, I am also working on my own product. Its feels good. Going to follow you.
     
  15. Monsterer

    Monsterer Supreme Member

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    Sounds good mate you have the unique idea.
    Good luck on your journey:)
     
  16. johncornerv

    johncornerv Registered Member

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    good luck buddy, own products gives you full control over how to market.
     
  17. Juneja

    Juneja Elite Member

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    Good luck mate
     
  18. TheNumbersGuy

    TheNumbersGuy Jr. VIP Jr. VIP

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    Cool idea, hope it works out for you man. Good luck on this Journey!
     
  19. youtalkmedia

    youtalkmedia Senior Member

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    Update 3)
    Just going some additional market research.

    My competition sells for prices between $20 and $35 a piece. They also charge between $12 and $25 shipping! I just went to the post office, spoke with the nice lady there, and found out how to ship my leash Canada wide for $3.35, US wide for $5.15.

    My next decision will be how I should go about pricing my product.
    Should I price higher and have free shipping? (I think this would have less drop offs at the cart)
    Should I price lower, charge the $12 that other people charge for shipping, and earn off the shipping charge? (Might get more clicks to my product, but not as many follow through)
    Should I really drop the price, and charge $25 for shipping? I'm sure I would get a ton of interest - but I'm also sure most people will click off when they see the shipping.

    Just wondering if any of you have drop shipping experience, what works better for you?
     
  20. PaulSmithAUS

    PaulSmithAUS Registered Member

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    I love this thread. The leash looked great and it will appeal to the female market with female dogs.

    As far as your question on shipping, I would try and think of it a different way. What sets you apart from your competitors ? You have a few options here:

    1. A Better product.... hmmm a leash is a leash. so probably not this.
    2. A cheaper product ... could be?
    3. A niche market audience who is willing to pay more for your designs ... could be ?
    4. Better customer service .... could be ?

    You need to find your edge for your product because if your competitors see your product and think its a great idea what is going to help you keep your edge over them.

    If you asked me I would think you should do cheaper shipping (maybe $8-$10) and price accordingly by dropping your leash prices by a $1-$3.

    Good luck with the product and journey. I'll be following closely.
     
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