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How To Go From A Product Idea To Sales In A Year

How do you turn a product idea into a reality, and how do you go from a napkin sketch to sales within a year?
The first thing is to clarify your idea. Ambiguity can destroy an idea after it’s sketched out on a napkin. Be clear and concrete, not vague and abstract.Once everyone involved is clear about what it is that is being discussed and why it’s valuable, the next phase is to write down all the actionable steps you can take. First, you must complete the dreaming process, then write down your plan, and, finally, execute it.

Dreaming
While a rudimentary sketch might point you in the right direction, the essential action that must happen is the construction of a prototype.
Initially, you’re looking for a minimal viable product (MVP) to clearly express your idea.
The prototype will do more than give you a model you can hold in your hands. It will also give you clues about the manufacturing process that will be necessary to mass produce the product. This, of course, depends on the material. It will be important to set up manufacturing without worrying about it breaking down. If it’s a hard material like metal, then installing wear blocks will help achieve this goal. 

If it’s a softer material like plastic, then using 3-D printing might work for you. In fact, you could even rent a 3-D machine for less than $20 an hour to experiment building your prototype with.

The purpose of dreaming by talking about it, sketching it, and creating a prototype is to have as much clarity as possible about what it is that you intend to build.

Planning
Planning is not just about turning an idea into a product, but also envisioning the business you need to build to deliver the product idea to the marketplace.
Writing things down is an essential part of the planning process. Writing will define your thinking, direct you toward what to research, and help you communicate your business ideas to everyone concerned from investors to manufacturers to distributors.
What should you write down?

  • ·  Write about how the product solves a market problem.
  • ·  Write about all aspects of the opportunity from everyone’s point-of-view.
  • ·  Write about the business model you want to adopt.
  • ·  Write about the markets the product will impact.
  • ·  Write about channels of distribution.
  • ·  Write about the competition and how you can retain a competitive advantage after copycats flood the market.
  • ·  Write about what you don’t know enough about yet. What data do you still need to collect? What are some holes in your thinking?

    • Executing
    When executing, build an advisory team, do market research, and do patent research. If everything works out, then you’re ready to take care of business and launch your big idea.
    Let’s take a look at each of these three steps:

    1. Build an Advisory team
    You will need to work with a variety of people who can provide the knowledge and skills that you need to turn your idea into a reality. Start with creating an Advisory Team, and then work out who you need to talk to, like manufacturers, vendors, lawyers, accountants, and so on.
    2. Market research.
    You could spend a lot of time making a product that’s a great idea but too far ahead of its time. So you must first discern who will buy your product. Since you haven’t created your product yet, find companies that are making products similar to what you’ll be selling.
    If there is something similar, then it will give you an idea of who is buying it and what price it sells well at. Not only will you understand your potential target market, but you will also know how to distinguish yourself from other players in the field.
    If your product is utterly unique, then you can do market research and have focus groups discuss their reaction to your prototype. Ideally, invite people who are interested in the same subject. For instance, if you’ve invented a unique dog jacket that calms your dog when they go to the vet, then your focus group should be dog owners.
    3. Patent research.
    Your design may be unique to you and your Advisory Team, but someone else may have thought of it, too, and you will infringe upon their intellectual property by simply introducing it into the marketplace. If something as esoteric as calculus could have been invented independently by two men at the same time, Isaac Newton and Gottfried Leibniz in the mid-17th century, then it’s unlikely but not impossible that someone could have come up with the same product idea as yours, too. 
    You should visit the website of the U.S. Patent and Trademark Office (USPTO) to research any patents for products like the one you’re working on. If you have any questions, talk to an attorney that specializes in patents. If everything works out in your favor, don’t file a patent right away. Instead file a provisional patent application first. This will give you time to decide if your idea will be profitable.

    In closing, it’s important to remember that you may have to fail your way to success. But fail fast so you can figure out what does work. Remember the story of Thomas Edison and the light bulb?

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    Mostly Everything

    Spiffy’s Grove: The only cider bar in Manila

    UPDATE: Spiffy’s Grove has closed.

    I originally wrote a short blog post about Spiffy’s Grove sans the interview with Gladys and Nick. This new piece was written for Manila Bulletin’s MBLife featuring better photos from my team and an actual interview. Photo by Monica Pantaleon.

    ————–

    “You serve what? Apple cider vinegar?!”

    This is the first reaction that Nick and Gladys get when customers find out they operate a cider bar. It was my first reaction as well. I thought I knew alcohol, but when it comes to hard cider, I’m still a padawan.

    Tucked a wee bit away from the Aguirre Avenue food explosion in BF Homes is a little bar along El Grande called Spiffy’s Grove. From the exteriors, Spiffy’s ticks all the boxes of a typical hole in the wall neighborhood bar – bean bags, long wood tables, chill music — but with one exception: their main attraction is hard cider.

    No not apple cider (with vinegar!). We’re talking about hard cider. For the uninitiated (which includes most of the Philippines), we were culturally not a cider drinking country, as opposed to other countries in Asia that stocks cider as a default menu item — I’m talking about you, Singapore, New Zealand and Australia. But the irony is, Filipinos do consume drinks **like cider**. Wine coolers, flavored beers, flavored vodka belong to a similar, although in my opinion less classy niche.

    Hard cider is more similar to wine in terms of production, but instead of grapes, assorted fruits are used. Because of this, ciders can serve as an entry-point into appreciating an alcoholic drink, a place that was once reserved for flavored beer.

    On the menu, we tried the Crushed Apple and Getta Pear from Three Oak Cider Co. At P120.00 per bottle, these were the most affordable ciders available. Both pegged at 5% ABV, the flavors of apples and pears really stood out — and this makes Three Oaks Cider Co. the poster boy “traydor” drink as you won’t feel the buzz until you stand up. There were more complex offerings such as the Zeffer Cider Co. Tea Leaf Infused at P190.00 and is quite similar to drinking spiked iced tea. The zenith, at least for me, was the Crooked Apple which was 500ml of pure green apples at 5.2% ABV. It almost feels like drinking a glass of apple flavored sparkling wine. Half a liter bottle costs P230.00.

    Of course they also have food.

    Spiffy’s Grove sets aside the usual bar chow for two rather unique offerings: dumplings and jaffles.

    Wait, you mean waffles? Nope! Jaffles are a thing in Australia. Historically linked to packing whatever you have left over from dinner and putting it in between two slices of bread, waffles has of late taken an artisanal twist (what hasn’t right?). If you remember Aristocrat’s flying saucer sandwich, it’s close to that, but the grilled bread is filled with mac and cheese, corned beef, or spaghetti!

    Asked about the future of Spiffy’s (they’ve only been open for less than a year), Gladys says that she hopes to become one of the catalysts for cider culture in Manila, in the same way that specialty coffee and craft beer have become rather mainstream in less than a decade.

    Spiffy’s Grove is also one of the few bars that is actually open from lunchtime onwards, so if you’re a freelancer in the south looking for a place to park yourself for hours on end, consider this!

    DETAILS:

    Address
    412 El Grande Avenue, BF Homes
    Parañaque
    Call (02) 501 7765
    Store Hours – 12 noon to midnight

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    How to: earn a degree and build up work experience

    Once upon a time, finishing university and gaining a degree meant adding invaluable letters to the end of your name, which almost instantly guaranteed you a job. These days, however, prospects for a recent graduate are markedly bleaker.

    Rising university places have left more and more of us with degrees, so whilst having a qualification is helpful, it doesn’t complete your CV. Instead, browse current job adverts and the most common prerequisite you’ll read is: “Must have relevant work experience”.

    Somehow you’re supposed to have both experience and a degree to qualify for positions, and it’s a situation that’s left thousands of students feeling utterly baffled.
    With commitment, though, it’s possible to get the best of both worlds. We’ve put together some top tips on building work experience and earning a degree at the same time, so that you can enter the job market as a fresh-faced but knowledgeable graduate.

    Work whilst you study
    If working during university is a financial necessity, remember you don’t have to stick to traditional educational routes. Undertaking an online degree will let you earn necessary qualifications around a full-time job – you’ll be able to manage your debt and have one foot in the door come graduation.
    Even if you don’t need the income, there are plenty of other benefits that come with working your way through four years of study. Get a part-time job which gives you responsibilities and the chance to develop new skills, and you’ll have quality work experience to bolster your CV.
    It’s no easy feat to balance shifts with study sessions and your social life, but once you’ve got it right you’ll graduate with a proven track record of your stellar time management abilities.
    Take advantage of internships
    A placement with an organisation relevant to your future career plan is the perfect way of gaining work experience. In fact, The Telegraph reported that UK students who completed an internship during their time at university were three times more likely to get top jobs after graduation.
    Providing an opportunity to see diverse workplace environments and get a hands-on feel for different jobs, the advantages are clear. The only downside – and it’s a big one – is the pay. Or lack of payment, to be exact.
    Most internships are voluntary, and although a rare few offer some compensation, you’ll be lucky to find one that covers travel costs. Your best bet is to ask your university for advice on available funds and managing finances.
    Make the most of networking
    Studying and partying aside, university is also the perfect place to start networking. Look around – the people sat next to you during classes could one day be your colleagues.
    It might seem like jumping the gun, but set up a LinkedIn profile during your last couple of years and follow your fellow students and lecturers. You never know when a connection might come in handy!
    Join a society or campus group related to your interests – for example, writing for the student newspaper if you’re keen to pursue journalism – and you’ll meet like-minded individuals. You could find yourself creating a support system that lasts throughout university and your future career.
    Although difficult, it is possible to build up relevant work experience whilst studying for a degree. Taking advantage of every opportunity that comes your way – be it part-time employment or a voluntary job – is the most important and useful thing you can do to create a winning CV.

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    How to Build an Email List Starting from Scratch

    There’s no better time to start building an email list than right now, besides yesterday, of course.

    If you haven’t started this venture yet and have no idea where to begin, that’s OK. This article will teach you how.

    Building an email list should be one of your top priorities as a blog (or any online business) owner. Even if you already have a significant social media presence, you still want to prioritize building a list.

    The main reason for this is simple – an email list is yours and yours alone. If you have 2,000 subscribers on your list, that’s 2,000 potential customers that you have for life. No one can take that away from you.

    Social media platforms, such as Facebook, however, are constantly changing their policies and algorithms. Things that could heavily impact your business. On any given day, they could shut down and you’d be out of a large portion of your business’ traffic or income.

    Even SEO and your highly coveted search engine rankings can be affected by factors beyond your control.

    If you have an email list, that’s never going to happen.

    Follow the steps below to get started on building your list today.

    Sign up for an Email Marketing Service

    The first thing you need to build a list is a tool to manage it.

    There are a number of different email service providers out there that do this for you. Each have their own pricing models, so you need to be smart about which one you go with.

    If your list size is small and you’re just starting, there’s typically no better option than Mailchimp. It’s free for people with list sizes below a certain threshold.

    If you’re no longer a beginner and have a larger audience, Mailchimp can still be a decent choice, though something like Aweber or other options may prove to be better.

    Create an Incentive to Join Your List

    After you’ve got a service provider set up, now you need to attract customers to your list.

    There are many ways to do this, but one of the most effective is by offering something of value for free in exchange for someone’s email.

    Usually people won’t just openly hand over their email address. Email accounts are private and nobody wants to hand them out for free. They expect something in return.

    When creating an incentive for people to join your list, think value first. What can you offer these people that they will truly covet as having significant value?

    Add Opt-in Forms on Your Site

    Just about any email provider you choose will give you tools to create an opt-in form on your website.

    With your incentive created and ready for show-time, now you’ll want to start giving people a way to join your list.

    When adding opt-ins to your site, make sure to put them in places people will actually see. Side bars, pop-ups, and in-line boxes tend to perform very well. The opt-in forms themselves should be enticing and simple to use.

    No one wants to offer their social security number in exchange for a piece of content on your site. Stick to the basics of asking for an email address and first name to be able to personalize your messages. Any more than that and people will be turned off by the amount of information they need to provide.

    Create and Publish Content for Your Target Market

    Last but not least, you need a way to drive traffic to your site. Content marketing is still the king of driving free, heavily targeted traffic to an online business.

    The first thing you’ll want to do is create content that your target market is interested in. Research other competitors in your niche and find ways to put a unique spin on their best performing content.

    Once you have something irresistible, then you have to put it in front of as many people in your target market as possible.

    The best way to do this is by guest posting, which is essentially writing articles for higher-traffic websites in order to send some of that traffic to your site.

    When you publish an article on one of these larger sites, you can rapidly grow your email list in a short amount of time. You’ll be well on your way to a list you can count on for many years to come.

    Conclusion

    Building an email list is something every online business needs to do. If you haven’t yet, then today is the perfect time to start.

    Use the tips above to begin your list building journey and good luck out there.

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    Your Used Coordinate Measuring Machine Buying Guide

    Your quality assurance department depends on competitive metrology equipment and at the centerpiece is the coordinate measuring machine. While automotive and aerospace industries have led the way demanding more accurate quality control measures from their suppliers, many sectors are following suit and shops that have previously done their measuring with gages are moving toward coordinate measuring machines. If you have yet to enter the market for these instruments, buying a used tool is a great way to introduce the technology on a budget, and as you see your ability to meet tighter deadlines increase and your errors go down, you may even start considering investing in additional metrology instruments like laser scanners and portable arms.

    Buying a used coordinate measuring machine can deliver a significant ROI, because while it should cost about half to two-thirds the sticker price of a new model, it should operate mechanically the same. However, there is a caveat to this: only buy used coordinate measuring machines from respected dealers who will thoroughly inspect used coordinate measuring machines and repair or refurbish any performance issues before resale. When you buy from an auction or directly from the shop unloading it, you have no such guarantees about its performance, which could seriously delay your production schedule when you have to call an expert for repairs.

    Before you go shopping for a used CMM, follow this 4-point checklist of things you should expect from a dealer before you make your purchase.

    1. Videos

    If you are not in a position to visit the site and see the machine in action personally, make sure you at least request a video of it performing a parts routine to see that it’s mechanically sound. You should expect to see these videos when you request a quote, as any reputable dealer will make sure that their equipment is ready for action before selling it.

    2. Guarantee

    Warranties can be difficult to find when you’re buying used instruments, but the dealer should provide a guarantee that the equipment will be operational when it arrives in your shop. Dealers that belong to the MDNA (Machinery Dealers National Association) like Canadian Measurement Metrology Inc. (CMM) adhere to a strict code of ethics which means providing reliable used machinery.

    3. Delivery

    Transporting any metrology instrument is a process that should be done by professionals, since any major collision or damage to an axis can seriously compromise the accuracy of the tool – and accuracy is the reason these instruments exist in the first place. Delivery is one more reason to buy from a dealer as auction houses will leave you high and dry when it comes time to remove the equipment, and unless it’s properly secured, you can do some real damage to it.

    4. Retrofits

    Even shops buying new equipment frequently come with a number of requests for customized retrofits and upgrades to fit their needs, so don’t be surprised if you do as well, whether that means new probing systems, particular software like PC-DMIS, or vision systems for malleable parts. Dealers and retrofitters should be able to match your requests so that when you get it on your floor, it’s right for the job. It’s time to get into metrology if you want your shop to keep up with your customers’ demands; get a used coordinate measuring machine now.