Start with a clear plan when making a new product to sell. If you’ve never created a physical product before, it can feel overwhelming at first, but don’t worry. You might not know where to begin, which is why it’s important to break your idea into steps and set a roadmap. The first time you … Read more
When Henry Ford introduced the assembly line to his automobile plant in 1913, he reduced the time it took to make a Model T from 12 hours to about an hour and 30 minutes. These innovations ushered in a new era of mass production and a way to make inexpensive products for a growing number … Read more
Creating a product can be one of the most rewarding experiences for any entrepreneur or business. It is challenging, usually involves working with smart, creative people, and can be financially rewarding when done right. We’re surrounded by successful products, so there must be some formula that works. But what does it take to be one … Read more
As COVID-19 caused people to hole up inside and simultaneously take up new hobbies over the last few years, the sporting goods industry saw major growth. Peloton sales skyrocketed as people looked for a way to stay fit from home. Sports like pickleball found a new audience as friends sought a socially distanced group activity … Read more
There are tons of moving parts in the process of creating and selling a product. At every step, information is created that needs to be captured and shared — a lot of information. The industry developed product lifecycle management (PLM) to provide a way of managing the information generated over the lifespan of a product. … Read more
It’s an age-old question — How can your product company increase sales in an ever-changing and competitive market? For a while, you could just ride the wave created by new e-commerce platforms or the growing adoption of Amazon. Great marketing strategies and white-labeling popular products were proven ways to grow revenue and make your company … Read more
When you sit down with your team to plan how to manufacture your new product, you probably start with a debate over manufacturing your product in Asia, Mexico, or here in the U.S. Maybe your company already has products on the market and a proven manufacturing partner, but you’re ready to consider alternatives. As you … Read more
When it comes to selling physical products, it’s hard to ignore Amazon as one of your channels, and maybe even the primary channel. Whether you’re selling to businesses or consumers, the pandemic changed the way everyone shopped and added to expectations for fast delivery. This shift was so significant that in August, 2021, Amazon surpassed … Read more
Listen Now> Listen to Zack Leonard, COO and Founder of Gembah as he joined Paul Miller on his podcast, Amazing Exits. In this session, the two experts discuss the different aspects of building a successful brand. Zack talks about how Gembah, the 1st Global Marketplace for Product Development, can help sellers connect with the right … Read more
The way customers purchase products has changed. In 2021, people spent $768 billion buying online, and experts predict it will grow to $1.3 trillion by 2025. The pandemic accelerated the existing trend towards more online shopping. So, if you’re bringing a new product to market, you need to develop a set of successful e-commerce strategies. … Read more
In August of 2021, Amazon became the largest retailer outside of China, generating $610 billion over the previous 12 months, while Walmart took in $566 billion. The switch by consumers to more online shopping during the COVID-19 pandemic ended Walmart’s 30-year reign as the top retailer. So, if you want to sell your own product … Read more
No one likes to talk about taxes, and tariffs on imports are no exception. It’s a topic that many entrepreneurs avoid when planning out the design and manufacturing of their products — and that’s a mistake. Tariffs can be a considerable portion of your total cost of goods. Not only do you spend money to … Read more
