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10. Building & Selling
Physical Products
Building
a
product
can
be
an
expensive
endeavor,
but
many
products
won’t
get
investment
or
manufacturing
deals
without
a
prototype.
Here
I
explore
how
to
get
a
prototype
off
the
ground,
or
leverage
Slideware
if
you
ini?ally
can’t
afford
to
build
your
product.
Learn
how
to
use
pre-‐
sales
contracts
to
get
upfront
payouts
before
your
product
has
been
made.
I
will
also
dive
into
selling
and
distribu?ng
your
product,
and
the
best
way
to
get
customer
feedback
on
your
product
before
you
produce
the
next
round.
Leverage Slideware & Prototypes
Developing
a
physical
product
can
be
a
significant
investment,
but
most
investors
and
distributors
will
require
a
prototype
before
inves?ng
in
produc?on.
These
are
several
op?ons
for
developing
prototypes
on
a
budget.
Sourcing
Sites
&
Prototype
Construc?on
Chapter 10: Physical Products
If
you
want
to
get
started
selling
products,
these
are
a
few
services
that
allow
you
to
get
Quick Tip
your
physical
product
sourced
and
built
for
a
reasonable
price:
If you’re looking to
develop a unique
product, check out
• Alibaba
this article called
• TradeKey “Nine Ways to
Make a New
• Global
Sources Product.” It offers
• DhGate great suggestions
for services that
• Made
In
China will create your
physical prototype.
• MFG
Slideware
Depending
on
the
complexity
or
cost
of
materials,
the
op?on
of
building
an
actual
product
may
be
out
of
your
price
range.
In
this
circumstance
you
can
use
Slideware,
which
is
essen?ally
a
PowerPoint
deck
with
a
visual
Chapter 10: Physical Products
representa:on
of
your
product.
Once
it’s
created,
you
leverage
the
Slideware
prototype
design
to
secure
your
first
set
of
sales.
Read
more
on
how
to
secure
pre-‐sales
contracts
in
the
following
sec?on.
You
may
not
be
able
to
spend
hundreds
of
thousands
to
build
out
mul?ple
versions
of
your
product,
but
you
can
probably
afford
a
few
thousand
dollars
to
get
a
detailed
mockup
or
basic
prototype
built
out.
Pre-Sales Contracts
Once
you
have
a
prototype,
you
want
to
leverage
pre-‐sales
contracts
to
pay
for
your
inventory.
Show
your
product
to
prospec?ve
buyer
and
ask
them,
“Do
you
want
to
buy
100
of
these
products?
Or
1,000?
10,000?”
Your
goal
is
to
lock
them
down
in
a
contract.
Once
you
have
one
in
place,
try
to
get
a
Quick Tip
Chapter 10: Physical Products
posi?ve
return
on
the
amount
you’re
paid
out. When leveraging
pre-sales contracts,
be sure to get a
You
might
get
half
of
your
solid attorney to
payment
upfront,
and
then
draft and/or review
half
upon
delivery
of
the
your contract and
product.
You
can
then
use
submit your patents.
the
first
half
to
pay
for
the
For more product-
first
set
of
orders
on
the
related legal
assump?on
that
they’re
documents see this
going
to
sell,
and
then
use
collection.
the
second
half
to
pay
off
any
expenses,
then
re-‐invest
in
building
more
products.
People
use
this
tac?c
start
building
and
selling
a
products
before
they
can
afford
to
have
the
product
manufactured
on
a
larger
scale.
Selling Your Products Online
You
can
always
sell
your
products
online
through
sites
I
men?oned
earlier,
such
as
Amazon,
eBay,
Magento,
or
using
payment
services
like
Google
Checkout
and
PayPal.
Be
sure
that
the
product
packaging
and
photography
are
a[rac?ve
and
will
catch
the
customer’s
eye.
Just
as
important
as
pu]ng
your
product
up
for
sale,
however,
is
ge]ng
feedback
from
100
poten:al
customers.
Before
you
invest
in
building
out
another
set
of
products,
you
want
to
be
assured
that
the
product
resonates
with
its
target
market.
Chapter 10: Physical Products
If
over
75%
of
those
poten:al
customers
say
they
want
this
product,
you’re
onto
something.
You
can
also
use
surveys
Feedback Tools to
measure
pricing.
You
can
either
ask
prospec?ve
If you’re looking to get feedback customers
how
much
and conduct research for your they
would
pay,
or
ask
product online, consider using ranges:
“Would
you
pay
one of these tools: $5-‐10?”
or
“Would
you
pay
$20-‐50?”
• GetSatisfaction
• Ask Your Target Market For
more
?ps
on
tes?ng
your
product
in
the
• SurveyMonkey marketplace,
check
out
this
video.
Resources Recap
• Build,
Sell
&
Promote
a
Physical
Product
(course)(package)
• Manufacturing
•
Manufacturing
websites:
Alibaba,
TradeKey,
Global
Sources,
DhGate,
Made
In
China,
MFG
•
Prototypes
•
Nine
Ways
to
Make
a
New
Product
(online
ar?cle)
Chapter 10: Physical Products
•
Market
research
tools
• GetSa?sfac?on
• Ask
Your
Target
Market
• SurveyMonkey
•
Selling
Online:
•
Tips
for
selling
your
products
online
(video)
•
e-‐Commerce
sites:
Amazon,
eBay,
Magento
•
Payment
services:
Google
Checkout
,
PayPal
•
Product
photography
(video)
•
Product
packaging
(video)
•
Tes?ng
your
product
in
the
marketplace
(video)
