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Often, one of the challenging things many creatives face is not finding product ideas but bringing them to life. How do you get things done, planned, and brought to reality? In this episode, Tracy Hazzard is with none other than the creator of Make My Idea Real, Lisa McCarthy. Lisa breaks down the steps in creating a product development plan, which includes zoning in on your target market and goals because there is no one-size-fits-all. She shares some guide questions and tools to help you understand the process not only for today but also for the future. As the saying goes, “hope is not a plan.” Let us take the reins of our ideas and start making them real! Create your plan today!
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Contrary to what many believe, women care about the desks and the chairs that they buy. They want features that no one's ever thought of before. On today’s show, Dana Bakich joins Tracy Hazzard to discuss the challenges of launching female-friendly furniture. Dana is a nonprofit consultant and the Founder and CEO of herdesk, a desk made by and for women. At the end of the day, women are constantly on the hunt and looking for the right thing. When they find it, they will find money to pay for it because they've been looking for it. Be sure you’re able to deliver what they want.
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Starting and then having the capacity to scale a business in such an entrenched branded community can be very daunting. For Ryan Ringholz and Jonathan Spier, that is coming into the shoe industry establishing the first lifestyle brand to start with kids through their company, PLAE. In this interview, Ryan and Jonathan take us into their journey from when they first launched entirely online in 2013 to evolving with their wildly successful approach to adults in 2017. At the heart of their brand is the word “play” where they recognize freedom of thinking like a kid. They’re taking this unique concept into their model and processes, especially with the new world of digital engagement. Tune in to catch their scaling advice that is essential no matter what industry you are in.
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In this day and age, the quest to be different and stand out has become so competitive that it becomes tempting to steal someone’s work, ideas, or concepts. Natasha and Fred Ruckel of the Randy Cooper Foundation joins us today to talk about protecting your products from infringement. Embodying Randy Cooper’s passion and desire to stand up for the product inventor’s rights, Natasha and Fred help protect, educate, and empower inventors. As they unfold the ways infringers play in the field and give us advice on how we can combat them, they also go deeper into the rules of copyright protection, the right way to build and launch your brand, and the proper ways to protect your product. As ideas are becoming more creative, so are the ways people steal, so equip yourself with the right education to protect your creative output.
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Broadening your lines and reaching out to source products beyond Amazon can sometimes be daunting for many entrepreneurs out there. After all, it is a whole new territory that needs to be tread carefully. If this new territory for you is in Asia, then you are going to be learning a lot from this episode. Rhod Needham, a product sourcing expert and the Co-Founder of Market Source Asia, pours in his knowledge about sourcing for products in this region, giving some great Asian sourcing tips. They specialize in launching products and collections for both global retailers and start-ups, and Rhod takes us into the systems they have in place and walks us through the development process – from getting ideas into products, down to QC and even selling them. Don’t miss out on this episode as Rhod delivers some great advice about designing, testing products, and broadening your reach.
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There are some inventors who are not so lucky when it comes to owning their products and gaining the necessary income and praise because of manipulators and false advertisers. Paula Brillson Phillips, a managing partner of Digital Law Group, has built her career advising start-up companies and mentoring hundreds of individual inventors worldwide to navigate the complex process of getting a business or product off the ground as well as helping them make effective decisions to protect their intellectual property, meet their business goals, and leverage the value of what they have already created. Her book, As Stolen On TV, arms the inventor with useful information on how to avoid being swindled in the invention industry.
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Joanna Parker, the co-founder of Yumble, explains how she was inspired to open her own company as a mom. Yumble has three pillars which are all centered towards providing healthy food for children. Joanna says children’s diet and appetite greatly vary, and that is why she is customizing the foods she offers, providing options for both picky and adventurous eaters. She narrates how it is working with his husband side by side while taking care of their kids, sharing the struggles they had while their business was growing and how they overcame it. For those who want to do a food startup, this is an episode you shouldn’t miss.
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Everybody wants a sweet life, but when it comes to food, too much can become an addiction. Victor Macias and Kristoffer Quiaoit, founders of Nui Foods, are on a mission to annihilate sugar addiction by creating products that are both indulgent and healthy. Victor and Kristoffer take us into their journey, starting from having no baking background to producing a product that brought them to Shark Tank. As rookie entrepreneurs, Victor and Kristoffer know the struggle of starting, and they share to us the ways they overcame those challenges.
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Most products in the consumer market, whether it’s mass market or eCommerce, has a seven out of ten failure rate. However, when you have access to good data, you are able to pitch products in a way that people want to buy it and elevate that level of success. Kevin Harrington says that nowadays with the internet, we can target our offerings to people in certain niches, categories, or demographics such as age or zip code. Kevin is an original shark from the hit TV show Shark Tank and a successful entrepreneur for more than forty years. He invented the infomercial and helped make “But wait, there’s more!” part of our cultural history. In this interview, discover Kevin’s “tease, please, and seize” system for a good product pitch and learn more about direct response marketing, proof of concept, crowdfunding, and more.
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In today’s world, the biggest mistake you can make is to not look at yourself as a business. Whatever product you have is not just an invention or a brand. It’s a business and you need to be getting the full benefit and the full protection of that. In this episode, Aaron Young talks about corporate asset protection and the Rockefeller Strategy. Aaron is the CEO of Laughlin Associates. He is a consummate entrepreneur as he’s been an entrepreneur pretty much his whole life. Too many inventors or sellers think they’re too small and don’t really need a corporation or an LLC, but having someone like Laughlin who can advise on what’s the right thing for you is vital. If you’re earning income or making money on your products, find out what corporate formation you need, whether it’s LLC, S Corp or a C Corp, to get some advice and get that going.
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Sourcing services are usually accessible only to huge conglomerates and big brands, but not to smaller brands. Tim Jordan of Hickory Flats, however, offers alternative sourcing ideas and services to the small guys out there. He founded the Private Label Legion, a community of like-minded entrepreneurs dedicated to great learning and group collaboration. He’s also built a seven-figure business. Tim shares how he found eCommerce and Amazon selling by accident and changed the game, and how it led him to look for alternative resources.
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Packaging is what breaks or makes a product. As entrepreneurs, we want our customers to be satisfied right from the get-go by making our mark on their impressions right from the packaging alone. Apurva Batra from FlexiblePouches imparts his expertise on that as he talks about branding through product packaging and the competitive business happening on the retail shelves. He also takes us on a different journey with his personal business experience.
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As the world moves into the digital space, it has become very important for us to keep ourselves secure, most especially for those Amazon sellers whose products are sold virtually. CJ Rosenbaum of Amazon Sellers Lawyer takes us into some Amazon seller legal issues, talking about what is going on with this platform and how you can keep yourself, your IP, and your products secure and safe. He talks about digital rights management, the listing hacking process, and establishing your brand – from trademarks to copyrights and patents. CJ also touched on starting from Kickstarter and Indiegogo, and how you can protect yourself from falling victim to the risks.
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The marketplace has indeed evolved, but one thing that remains the same is the influence. We all know the power of having celebrities to be your product endorser due to their wide influence in the market. This is what led Sarah Shaw to craft this trend of endorsement and marketing into a new mold. Sarah talks about the Celebrity Product Placement Process which actually works for more and more entrepreneurs. Discover how you can scale your business by getting celebrity access for your products. You may get these influencers to use your product, be photographed with it, and get them to talk about it. You’ll never know when one of these famous faces can eventually make a huge difference in your bank account.
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It takes an amount of technology and engineering to pull together all the power-buttoned gadgets that we know and love. When most companies in the US throw over the fence to a factory in Asia the ideas they come up with for development, it’s great to have Orlin Wetzker’s company develop and engineer all these things in the US. One of the main projects that Orlin talks about is the moisture sensor which brings high technology to farming. Given the different technology life cycle of the kind of developing and product engineering that he’s doing, Orlin is no exemption when it comes to challenges. He shares some techniques on how to minimize these challenges as he takes us to his journey of pursuing his craft.
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How do you increase your sales? Have you ever thought that your brand can be at par with big players in the business? There is no difference between small brands or large brands. The key is to understand the actual metrics of your business. The goal is to be profitable. What’s your gross profit as a company? How do you make sure that the product market fit is right? Jason Magee, Director of Seller Partnerships at Teikametrics, is obsessed with helping entrepreneurs scale successfully on Amazon. Jason talks about building an ecosystem of best-in-class partners to help people as well as to bring people in.
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It costs to play today. Product launching is no exemption. It’s not a fast return on investment as much as you want it to. Marketing veteran Michelle Barnum Smith joins Product Launch Hazzards to discuss how you can leverage ecommerce chatbots as a marketing tool. She quickly became an expert in the niche once she realized how powerful Facebook Messenger bots can be. Michelle recounts how she got started in product launching and marketing, and talks about the importance of list building and leveraging e-commerce chatbots to launch your products and create engagements.
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There are so many products sold on Amazon, yet if you take a look at them, the majority tends to hold out only one piece of the product. They tend to overlook the value of multiple unit purchases. Jenna Liebner of Turnkey Product Management has seen time and time again how sellers on Amazon are not trying to influence how people purchase multiple units. Jenna goes over a number of Amazon Promotions that will help you to try to get people to buy more than one product from you in a single transaction. Not only will this influence potential customers but your sales as well. Jenna dives deep on the topic and touches on promo codes and coupon clippings, Bogo and cross selling, and social media promos.
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Amazon UK and EU market are definitely the potential recourse for those who want to expand. If you are aiming to grow your product sales into the Amazon UK and EU market, then you have to learn what they need. Amazon selling strategist Karen Codd answers some questions that bugs most Amazon sellers. Karen talks about the product changes you need to make in order for them to perform well in the UK and Europe, and gives tips on knowing when you are ready to move your brand. Getting deep into some Brexit risks, Karen lays down the effects it has on selling into the UK, what it looks like for the Amazon market, how it happens, and who pays what.
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Tracy gives an insight into one of the talks she gave at a City Summit event in Salt Lake City. With innovation becoming the buzzword for this day and age, we can’t help but get too caught up in just investing on what seems catchy. It’s time to actually think it over and start to think carefully about how you are going to invest in innovation, whether you are investing your time or investing your money. Tracy looks at the difference between disruptive and market-making innovation. She gets down to answer whether or not you’re in a disruptive or market-making venture yourself.
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