One of the biggest secrets of building a successful product line is to start with the end in mind.
When you can create a clear vision of what the entire line looks like done, it helps to keep your mind on track as you develop the details of the brand.
Using these tips and strategy will help you see the BIG picture.
This simple step does two things for you: Get’s the line out on paper and it allows you to create a budget.
Putting the line on paper:
Write down the products in the entire line, get specific and include all of the details.
1. The type of product
2. Size of container and type of packaging (0.5oz, 2oz, 8oz)
3. Artwork – silkscreened, label
4. Price that you want to sell it for.
There are almost always way more steps than you realize. There are always other things that pop up.
This is also a way to get FOCUS.
Daily, I get questions from people wanting to develop it all of the products and develop them ALL at once but rarely do I meet someone that has the skills, budget or time to develop them all. Use this tip and it will help you focus.
The Budget:
Then get busy calling manufactures and get pricing. Find out how much this is really going to cost, all of the extra’s (artwork, graphics, shipping, etc)
Do you want to offer custom boxes, inserts or samples? Do you have an idea of how much this will cost?
Most people need to budget 1-3K for a line done well. You can work with a stock private label company and take their minimum but you will still need to budget extra for the boxes, artwork, artist time and shipping cost. Taking count of all the numbers will help you get an idea of what a realistic budget is and help you create a plan that will help you make your product line a success!
While you may not be able to develop all the products at once, you can create a list of the entire line and then develop them in order.
Tell me if these tips have helped you get clear on your big picture vision.
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