Sofeast’s CEO Renaud Anjoran is joined on the podcast by special guest Liz Long, founder of Learn to Make a Product, a platform that supports customers to launch products, providing expert advice and assistance to set up their supply chains, develop products, and go through all of the steps needed to get to market!
Liz has been there and done, being an entrepreneur herself who brought a successful range of reusable bags to the market that sold for many years, so her advice and experience are really valuable if you’re in a situation where you have a good new product idea that you’re itching to make a reality, but you’re unsure on the best ways to get the project started!
Listen to the episode and learn some of the key things you need to focus on, tips for better results, and also some of the dangers you should be avoiding. Hopefully, you’ll be ready to take the plunge and start making your dream product soon afterwards!
Listen: How To Start Developing Your New Product (Feat. Liz Long)
Watch: On YouTube
- 00:00 – Greetings and introducing the topic: How to start developing your new product
- 01:27 – Who is Liz Long?
- 04:00 – How could a would-be entrepreneur start out with their new project and how long before they see ‘success’ after launch?
- 06:20 – How long would it take to be ready to launch?
- 07:40 – Benefits of private labelling VS custom product development from scratch.
- 14:06 – Are there product types that have a lower barrier to entry or lower investment required to get to market quickly?
- 20:14 – What tools, sites, and resources are helpful to someone who is developing a new product?
- 26:38 – Finding the right supplier/factory and if working with an intermediary is OK?
- 31:42 – The dangers of being overly optimistic when starting.
- 34:47 – Wrapping up.
- Sofeast can help with your NPI process and product launch, with our engineers and supply chain experts supporting you every step of the way with product engineering solutions for every need.
- What is the New Product Launch Process?
- NPD Project Constraints (3 common examples)
- What is an NRE Cost (Non-Recurring Engineering)?
- How to Calculate the Cash Needed to Prototype & Launch your New Product [Podcast]
- Ultimate Guide To Sourcing From China And Developing Your Suppliers [eBook]
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