Your comprehensive, step-by-step, friendly guide to launching and growing your dream brand or startup
Step 1: Embrace the Right Mindset for Scaling Your Small Business
Hello there, future entrepreneur! We are so excited to be part of your journey. You're about to embark on a thrilling adventure in the world of startups and personal brands, and we're here to offer guidance every step of the way.
Before we dive into the practical steps, let's talk mindset.
The way you approach your business can make all the difference between a hobby and a successful enterprise. You might be wondering why mindset matters so much. Here's the secret: building a brand or a startup isn't just about doing what you love; it's about nurturing a larger vision and embracing the identity of an entrepreneur.
There's a brilliant book by Michael Gerber called "The E-Myth" (short for The Entrepreneur Myth) that perfectly illustrates this point. In the book, Gerber talks about the importance of shifting from a technician's mindset to an entrepreneur's mindset. Many entrepreneurs start their businesses because they're skilled at a certain craft or service – but being a successful entrepreneur requires more than just technical expertise.
In "The E-Myth," Gerber explains that many small businesses fail because their owners are too caught up in the technician's role – they're working in the business instead of on the business. When you start your own venture, it's crucial that you prepare to take on three roles: the technician (who builds the product or provides the service), the manager (who oversees the operations), and the entrepreneur (who steers the company towards its vision).
Take your time to soak in this wisdom. Make a commitment to not just create a job for yourself, but to build a sustainable, scalable business. Changing your mindset is the first, and arguably the most critical, step on this journey. So, embrace the entrepreneur within you – your future business depends on it.
Step 2: Developing a Clear Business Model & Vision
Now that you've started thinking like an entrepreneur, let's get down to business, literally. Our second step revolves around creating a clear vision for your business model.
Think about it this way, if your startup or brand was a puzzle, then your business model is the picture on the box that guides you. It gives you a holistic view of the business you're creating. Your business model needs to outline who your customers are, what value you're offering them, how you'll deliver it, and how you'll generate revenue. Remember, a dynamic business model that can adapt to market changes is a resilient one.
To guide you through this process, consider tools like the "Lean Canvas" by Ash Maurya and "The Value Proposition Canvas" by Alex Osterwalder. They're like your roadmap to a well-defined business model, helping you lay out all the necessary elements concisely and effectively.
The Lean Canvas, inspired by the Lean Startup methodology, helps streamline your business model on a single page. It fosters an iterative approach to product development while keeping your focus on the customer's needs. On the other hand, the Value Proposition Canvas aids you in defining your product or service's unique selling proposition. It assists you in pinpointing your customers' pain points, needs, and the unique ways you can address them.
These tools will empower you to answer crucial questions, such as:
Take your time to complete this step. A well-crafted business model and a compelling vision are priceless assets in the world of startups and personal branding. They're the compass that will keep you on the right path even amidst uncertainty and change. So buckle up and prepare to dive deep into defining your brand's soul.
Step 3: Building Your Growth Engine - The Importance of a Die-Hard Fan Base
This is where things start to get exciting! Now that you've established your business model and vision, it's time to build momentum and start growing. The heart of your growth engine? A loyal, enthusiastic fan base who love what you're doing and are eager to support you every step of the way.
Here's a secret: In the early days, small but mighty is your best approach. Let's break down a few powerful ways to kickstart your growth engine and cultivate a community of die-hard fans.
Firstly, consider diving into the Local Maker's Market. It's a perfect setting to debut your physical products, get hands-on feedback, and connect directly with customers. As you interact with customers, pay attention to their responses to your product. From these insights, you can create customer personas that reflect their values, goals, pain points, and dreams. This step is about more than just selling your products - it's about understanding your audience and refining your approach.
Next, let's talk about community-building. Developing a loyal fan base is invaluable, whether they are family, friends, or individuals who stumbled upon your brand and fell in love with it. By actively nurturing this community - keeping them engaged, sharing your journey, and fostering interaction - you can transform casual customers into die-hard fans. There are numerous platforms and tools to facilitate this, from email lists and social media groups to chat groups and meet-up events. Choose the platform that resonates most with your target audience and watch your community grow.
Finally, as your fan base expands, consider establishing an online shop. In the digital age, having an online presence is a game-changer. It not only extends your reach but also enhances the shopping experience for your customers. Setting up an online shop helps you implement the business system you designed in Step 1. While it might take time and effort, the benefits - in terms of inventory management, logistics, and customer service - are definitely worth it.
By the end of this step, your goal should be to step back from the nitty-gritty of the business and focus on the big picture. The work you've put in up until this point prepares you for the exciting phase of scaling up. Remember, your most important task is to develop a business that can thrive without being completely reliant on you. It's the key to growing a resilient, successful brand or startup.
Step 4: Igniting the Growth Engine for Your Business
Are you ready for the next phase? Once you've built a robust growth engine, it's time to pour on the fuel and accelerate. With a trusted product development and manufacturing partner like PWI on your side, you can focus on scaling up your operations and reaching more customers worldwide. Let's explore some ways to do this:
Starting with crowdfunding, this tool is a fantastic way to connect with early adopters and gain global exposure for your brand or products. Successful crowdfunding campaigns require careful planning and execution, so consider seeking expert assistance if you need it. Remember, your dedicated fan base is your secret weapon here - they can help your campaign hit its target and make a big splash in your industry.
As your brand gains recognition, you might start receiving inquiries about wholesale and distribution opportunities. While these should be evaluated carefully - keeping factors like customer experience and resource management in mind - they can turbocharge your business growth. If handled correctly, wholesale and distribution can massively expand your reach and boost your revenue.
Additionally, forging partnerships with physical retail chains and online marketplaces can further broaden your audience and increase accessibility to your products. Being available in multiple channels can only make it easier for your customers to find you.
At this stage, your business will have grown significantly. Your role should have shifted from working in your business to working on your business, focusing on optimizing your systems and processes.
But don't stop exploring new opportunities. Consider business alliances with other brands that cater to your target audience. This strategic partnership can strengthen your brand positioning and extend your customer reach.
Moreover, licensing and loyalty programs can create a symbiotic relationship with other businesses, either by extending your brand to different product categories or vice versa. While this presents both opportunities and risks, it's an option worth considering for further business growth.
By the end of this step, you should have a well-oiled business machine that runs without your constant involvement and a roadmap to scale your operations.
Remember, starting your brand or startup is a journey, and while it might be challenging, it's incredibly rewarding. At PWI, we understand the passion and dedication it takes to bring your vision to life, and we're here to support you. Whether it's product development, manufacturing, or scaling up your operations, we offer the expertise and resources to make the process smoother. You don't have to navigate this exciting journey alone - think of us as your trusted partner, cheering you on every step of the way!
Hello, Influencers! ?
The digital realm has given rise to a new breed of celebrities - you, the influencers! With your creativity, personality, and authenticity, you've built communities around your passions and interests. But, as your influence grows, have you ever thought about deepening the bond with your followers through your own merchandise line?
Creating a merchandise line offers a unique opportunity to transform your personal brand into a tangible experience for your followers. Not only can it serve as a physical representation of your community, but it can also become a sustainable source of income.
However, diving into the world of merchandise can be a bit daunting. To make this journey easier, we've compiled a comprehensive guide highlighting the top five strategies for creating your own merchandise line.
1. Print-on-Demand Services
First up are print-on-demand services. These platforms, like Printful, Teespring, or Zazzle, can kickstart your merchandise journey with ease. You simply supply your design, and they handle the production, shipping, and customer service.
Pros: This approach offers a low-risk entry into merchandise. You only pay for what you sell, and there's no need to worry about managing stock or shipping logistics.
Cons: On the downside, your creative freedom is limited by the products the company offers, and the profit margins may not be as high as other options.
2. Buying Wholesale, Customizing, and Selling
The next approach involves buying generic products in bulk, customizing them with your branding, and then selling them to your followers. This method typically involves working with a wholesale supplier like Alibaba or a custom product creator like CustomInk.
Pros: This strategy lets you sell physical products without needing to delve into manufacturing, and the profit margins can be higher than print-on-demand.
Cons: However, you'll be responsible for inventory management, order fulfillment, and customer service, which can be time-consuming.
3. Collaborating with an Existing Brand
Collaborating with an established brand is another effective strategy. This approach works well when the brand aligns with your values, style, and audience. They get access to your audience, and you offer your followers unique, co-branded products.
Pros: The benefits of this approach are that you can leverage the brand's manufacturing capabilities and reputation, and there's typically no need for an upfront investment.
Cons: The challenge is finding the right brand partner and negotiating a fair deal.
Dropshipping is another business model that's become popular. It involves selling products directly from suppliers without holding any inventory yourself. Companies like Oberlo and Shopify make it easy to integrate dropshipping into your business.
Pros: Dropshipping offers a low-risk entry into selling products, as you don't need to worry about unsold inventory.
Cons: However, you have little control over product quality and shipping times can be long, which may affect customer satisfaction.
5. Creating Unique, Innovative Products
The most ambitious approach is creating your own unique, innovative products. This option provides the greatest creative freedom and the opportunity to offer your followers something truly unique.
Pros: Creating your own product allows you to control every aspect of the product, from design to quality.
Cons: It's the most challenging path, requiring a substantial upfront investment and the navigation of complex processes like product development, manufacturing, and logistics.
Each of these approaches has its strengths and weaknesses, and the right one for you will depend on your brand, resources, and what your audience would value. Remember, your merchandise is an extension of your brand, and it's essential to create something that resonates with your audience and stays true to your values and identity.
Whichever approach you choose, remember the core principle of merchandising for influencers: it's all about adding value for your audience. Whether it's a cool t-shirt they can wear proudly, a custom-made gadget that enhances their lifestyle, or a unique piece of jewelry that symbolizes their belonging to your community, your merchandise should always enrich your audience's connection with you.
It's also essential to be transparent and authentic in your merchandising efforts. Let your audience be part of your creative journey. Share the process of product selection, design, and even the challenges you face along the way. This openness not only builds trust but also makes your followers feel they're part of something special.
Now, let's talk about the elephant in the room - how will this affect your role as an influencer? Adding a merchandising element to your brand will undoubtedly require more of your time, energy, and resources. But remember, you don't have to do it alone. Companies like PWI specialize in helping influencers like you navigate the complexities of product development, manufacturing, and logistics. If you're interested, feel free to reach out!
Keep in mind that merchandising is an ongoing process. You may start with print-on-demand and eventually move to create your own unique products. Or you might find that collaborating with an existing brand works best for your audience. There's no one-size-fits-all strategy. It's all about finding what works best for you and your community.
Lastly, don't forget to celebrate your wins along the way! Launching your merchandise line is a significant achievement and a testament to your hard work and influence. Celebrate these moments with your community - after all, they're the reason you've come this far.
In conclusion, creating a personal merchandise line can be a rewarding way to deepen your connection with your audience and diversify your income. Whether you choose print-on-demand, wholesale, collaboration, dropshipping, or creating your unique products, each approach offers its unique advantages and challenges. Consider your brand, resources, and what your audience values to choose the best strategy for you.
Good luck with your merchandising journey, influencers! Remember, it's not just about selling products; it's about enriching your community and transforming your digital influence into tangible experiences. ?
The Influencers' Advantage
In the digital age, creators and social media influencers are becoming cultural powerhouses. They command the attention of vast audiences, influencing their behaviors, preferences, and purchasing decisions. With the rise of Artificial Intelligence (AI) and advanced algorithms, their reach has only amplified, providing them with a unique advantage when introducing their own brands.
As AI and machine learning continue to revolutionize the supply chain industry, the process of creating and launching new products is becoming increasingly streamlined. Influencers, with their vast follower bases, are in a prime position to capitalize on this trend. Like a crowdfunding project with a large number of email signups, these influencers have a ready audience to target, ensuring a successful product launch. According to an article by Inc., influencers can play a significant role in a new product's crowdfunding campaigns.
Solidifying Fan Loyalty with Unique Merchandise
In an increasingly crowded digital landscape, converting casual followers into loyal fans is the key to long-term success for influencers. One of the most potent ways to achieve this is by extending the influencer's personal brand into physical products. Creating unique merchandise not only provides followers with something tangible to connect with, but it also enhances the bond between influencer and audience.
This marketing strategy is not new. Brands have long understood the need to continuously imprint their image into consumers' minds to secure a spot in their 'consideration set.' A Harvard Business Review article entitled "Brands in the Age of Social Media" discusses the concept of "crowdcultures" and how influencers can leverage their unique position to create a personal brand that deeply resonates with their audience.
The Spectrum of Personal Merchandise: Basic to Unique
The creation of a personal merchandise line can range from the simple to the complex.
While creating your own branded merchandise is an exciting venture, it comes with its own set of challenges. These include:
Transforming Influence into a Physical Brand
Creating a unique merchandise line is a powerful way for influencers to transform their digital influence into a physical brand. It provides an avenue for influencers to connect with their audience on a deeper level and convert followers into loyal fans.
While there are challenges in the journey, the rewards far outweigh the hurdles. And as the supply chain industry continues to evolve with AI technology, the process is becoming even more accessible.
With the right partners and a clear vision, influencers are well-positioned to create a personal brand that resonates with their audience and stands the test of time.
For more insights into creating your unique merchandise line, feel free to reach out to us. We are always here to help you navigate the exciting world of product creation.
As a small or medium-sized enterprise (SME), product development and prototyping can be a challenging process filled with obstacles and unexpected issues. Common problems that SMEs face during this stage include insufficient resources, lack of expertise, ineffective communication, cost overruns, and time delays. These challenges can lead to inadequate product testing and validation, resulting in subpar products that fail to meet customer expectations or industry standards.
What Are the Practices SMEs Can Do?
To tackle these challenges, SMEs can adopt several best practices in your product development and prototyping stage. These include:
Addressing the aforementioned problems is crucial for SMEs to ensure the success of their products. Failure to effectively test and validate a product can result in a range of undesirable consequences, including:
Simple Yet Powerful Tool: Product Testing and Validation Checklist
To help SMEs overcome these challenges, we've developed a free, simple, and powerful tool called the "Product Testing and Validation Checklist." This easy-to-follow checklist provides guidelines for testing and validating your product during the development and prototyping stage. By following this checklist, you can ensure your product meets customer needs, complies with industry standards, and is optimized for manufacturing and assembly.
Our team at PWI has extensive experience in helping SMEs navigate the complex world of product development, and we understand the value of having a structured and organized approach to testing and validation. This tool is designed to provide a comprehensive roadmap for SMEs to follow, helping them avoid common pitfalls and achieve success in their product development journey.
How to Use This Tool?
After downloading the "Product Testing and Validation Checklist" file, you'll find a straightforward checklist with six main sections, each representing a critical stage in the product development process. To use this tool effectively:
Remember, our team at PWI is always here to help you with your product development challenges. If you need additional support or guidance, don't hesitate to reach out to us. We offer a range of services tailored to the needs of SMEs, including product development consulting, supply chain management, and more. Let us help you turn your product ideas into reality and achieve success in the competitive world of product development.
In conclusion, addressing the common challenges faced by SMEs during the product development and prototyping stage is crucial for ensuring the success of your products. By using this free "Product Testing and Validation Checklist" and following the best practices outlined in this post, you can effectively navigate the complexities of product development, optimize your resources, and create products that meet customer needs and industry standards.
Download the checklist today and start your journey toward a successful product launch.
Starting a new venture is exciting, but it can also be challenging, especially for Small and Medium-sized Enterprises (SMEs). One of the key challenges faced by SMEs is prioritizing and evaluating product ideas effectively. A systematic and organized approach to idea evaluation can significantly impact your business success. To help you streamline this process, we've created a free Idea Prioritization and Evaluation Matrix.
Common challenges faced by SMEs during the idea evaluation process
SMEs often struggle with the following problems during the idea evaluation process:
The importance of effective idea prioritization and evaluation
Effectively prioritizing and evaluating ideas can lead to numerous benefits, such as:
Introducing the Idea Prioritization and Evaluation Matrix
Our Idea Prioritization and Evaluation Matrix is a simple, easy-to-use Google Sheets template that helps SMEs evaluate product ideas based on factors like market demand, competition, feasibility, and potential profitability. With this tool, you can systematically compare and prioritize your ideas, ensuring that you allocate resources effectively.
Tips for Maximizing the Benefits of the Idea Prioritization and Evaluation Matrix
To ensure you get the most out of our Idea Prioritization and Evaluation Matrix, keep these tips in mind:
Download the free Idea Prioritization and Evaluation Matrix
Ready to streamline your idea evaluation process? Simply download the Idea Prioritization and Evaluation Matrix file below. Once you've downloaded the template, follow the instructions provided within the file, and start evaluating your ideas right away!
The Idea Prioritization and Evaluation Matrix is a powerful tool to help SMEs overcome the challenges of idea evaluation and achieve success. By using this free template, you can make better-informed decisions and focus on the most promising ideas.
Share your experiences and successes with us – we'd love to hear how our template has helped your business grow.
We're thrilled to announce that our free AI-generated new product ideas service is now live on ProductHunt! For those who are not familiar, ProductHunt is a popular website and community where makers and enthusiasts can discover, share, and discuss new products and ideas.
Launching our service on ProductHunt was not just about promoting our new offering, but also about experimenting with a platform that is known for its supportive and engaged community. We wanted to see how our service would be received by the ProductHunt audience, as well as gain valuable feedback and insights from early adopters.
At the heart of our new service is the use of AI to generate fresh and innovative product ideas, combined with the human intelligence of our team of experts who tailor the ideas to each individual business. We believe that this combination can provide hardware startups and scaleups with the competitive edge they need to stay ahead in the market.
Our launch on ProductHunt is just the beginning of our journey, and we're excited to continue exploring new ways to help makers bring their product ideas to life. We're also looking forward to hearing from the ProductHunt community and incorporating their feedback into our service.
If you're a hardware startup or scaleup looking for new product ideas, or simply interested in the latest innovative products, head over to ProductHunt and check out our free AI-generated new product ideas service. We can't wait to see what you think!
A Complete Practical How-to Guide to Learn How to Find a Supplier to Manufacture Your Own Product.
Manufacturing your own product is a dream that sets every maker in the world to start their journey of being a maker. Hand-craft your product at home is one thing but get it produced by a supplier can be a daunting task for small maker's businesses owners.
The truth is, yes, it is. BUT, with a proper understanding of what it is about and the overall knowledge, it can make the journey a bit less terrifying and more enjoyable. With the right planning and resources, you can successfully bring your product to market and scale your business.
In this blog post, we'll try walk you through the process of manufacturing your own product with practical practices and advice, from designing and prototyping to finding the right manufacturer and launching your product. Whether you're new maker or a maker ready to scale up your business, this guide will provide valuable insights and actionable steps to help you succeed.
So let's get started!
Step 1. Conduct Market Research - Make Sure Your Product is Wanted!
Before diving into manufacturing your own product, it is essential to conduct market research to ensure that there is a demand for it. A demand means people are interested in your product and are willing to pay for it. The popular startup saying, "Build something people want," holds true in your situation too.
Conducting market research can help you identify potential customers, understand their needs and preferences, and evaluate your potential direct and indirect competition. Here are some key steps you can take when conducting market research:
Step 2. Develop a Prototype
Once you have a clear idea of your product, have conducted market research and finish your product design, the next step is to create a prototype. A prototype is a preliminary version of your product that allows you to test its functionality, design, and features. It is an essential step in the product development process as it helps to identify any potential issues and allows you to make necessary changes before moving forward.
Step 3. Branding and Packaging
As your product prototype stage comes to an end, you need to start thinking about finalizing your packaging and branding designs. Packaging is not just a means of protecting your product; it is also an important marketing tool that can help you stand out from your competitors. On the other hand, branding is a big topic, but for now, we'll focus on creating a unique name and image for your product in the minds of consumers.
For branding, the most basic elements you will need are the logo, name, and a unique color scheme. Your branding should reflect the values of your business and your target market. You may also want to register the trademark of your branding to protect it from being copied by competitors.
When it comes to packaging, you need to consider the size, shape, and materials used for your product's packaging. Do they need to be stackable? Will they be displayed on store shelves? Do they need to be designed to accommodate consumers before return? What are the storage environmental conditions?
You should also think about the environmental impact of your packaging, as consumers are becoming more conscious of the impact that their purchases have on the environment. Using eco-friendly packaging can be a great selling point for your product.
Step 4. Selling Your Product
Yes, you read that right. It's possible to sell your product before it's even manufactured and you should do this. It's a good idea to sell with a few early samples of your product to gauge market interest. If you can't collect enough orders, you might want to consider rethinking your product idea.
There are many different avenues you can take when it comes to pre-selling your product, and the one you choose depends on your target market and business goals. Here are some popular options:
1. Crowdfunding Websites
Crowdfunding websites are one of the best channels for pre-selling your products. While launching your product successfully on a crowdfunding website takes a lot of work, the results can be very rewarding. Crowdfunding provides the money you need to invest in mass production, market feedback to confirm whether your product is something people want, and more.
2. Social Media
Social media is another popular way to sell your products, especially if you've already built a fan base. Platforms like Facebook, Instagram, and Pinterest provide the opportunity to showcase your products to your loyal fans and a broader audience. You can create posts or ads showcasing your product or even collaborate with social media influencers to promote your product to their followers.
3. Trade Shows
Trade shows are a great way to pre-sell your products, especially if you're selling in a specific niche market. Trade shows provide the opportunity to showcase your products to people who are already interested in your industry, making it easier to generate sales and collect pre-orders. You may also have the opportunity to meet with potential buyers or retailers interested in carrying your product.
Step 5. Find the Right Supplier
Once you have developed a prototype, the next step is to find a supplier to manufacture your product at scale. This can be a daunting task, but it's important to get it right in order to ensure that your final product meets your quality standards and is cost-effective.
1. Identify Reliable Suppliers
The essence of this complex process is finding suppliers that are reliable, affordable, and able to provide you with the quality product you desire. You can find suppliers through online directories, trade shows, and referrals from other businesses in your industry. However, finding the right one will mean giving your attention to tiny details during your early communication with potential suppliers. Don't settle for the first supplier you find, or the one with the lowest prices. Instead, take the time to research their reputation, quality standards, and customer service.
2. Request Samples
Before committing to a supplier, it's important to request samples. This will allow you to evaluate the quality of their materials, craftsmanship, and ensure that they meet your standards. You may also want to understand more about their quality assurance system and how they deal with defects and product warranty.
3. Discuss Prices and Terms of Cooperation
Once you have found a supplier that meets your needs, it's time to discuss prices and the terms of cooperation. Keep in mind that the cheapest supplier may not always be the best choice. Price and quality often go in opposite directions, so finding the optimal balance for your business is crucial. In addition to price and quality, suppliers may offer extra services or favorable terms such as extended warranty or extra spare units/parts. Take a whole view when you discuss these points, and aim to reach a mutually beneficial agreement with your supplier.
4. Build Strong Relationships with Your Suppliers
Finally, it's important to develop strong relationships with your suppliers. This will help ensure that you have a reliable source of supply, and that you are able to work together to address any issues that may arise. Be sure to communicate clearly with your suppliers, pay your bills on time, and treat them with respect. Remember that your suppliers are key partners in your business success, and investing in good relationships with them is well worth it in the long run.
Step 6. Manufacturing the Product
Once you have identified the right supplier, it's time to start manufacturing your product. This is where the rubber meets the road and your product idea is turned into a physical product. While your supplier will be responsible for the production, there are several steps you'll need to pay attention to during this stage:
By following these steps, you can ensure that your product is manufactured to your specifications and meets your quality standards. It's important to maintain open communication with your supplier throughout the manufacturing process to ensure that any issues are addressed in a timely manner.
Congratulations! Once you have completed the process, you will have successfully manufactured your own product. It was a long and challenging process, but the end result is worth it. You have created something from scratch that people want to buy, and that is a great feeling.
Remember that the key to success in manufacturing your own product is to be patient, thorough, and persistent. Don't give up when you encounter obstacles or setbacks. Instead, use them as opportunities to learn and grow.
By the way, if you haven't checked out Makers Scale Up Roadmap, you must give it a read.
Introduction to Crowdfunding and Popular Platforms
Crowdfunding is a method of fundraising in which an entrepreneur or a business owner raises funds for a project or a product by soliciting small investments from a large number of people, typically via the internet. Some of the popular crowdfunding platforms for makers include Kickstarter, Indiegogo, GoFundMe, and Patreon.
Why Crowdfunding is a Powerful Marketing Channel for Makers
Launching a product on a crowdfunding platform provides a maker with several benefits.
How to Successfully Launch a Product on a Crowdfunding Site
To successfully launch a product on a crowdfunding site, makers need to create a compelling and informative campaign page that includes a detailed description of the product, high-quality images and videos, and clear information about the project's goals and timeline. Makers also need to set an achievable funding goal and offer incentives or rewards to backers to encourage them to invest in the project.
Considerations for Makers When Launching a Product on a Crowdfunding Site
When launching a product on a crowdfunding site, makers need to bear in mind the following considerations:
Crowdfunding provides makers with a powerful marketing channel to launch their products and build a fan base before it even hits the market. With careful planning and execution, makers can successfully launch their product on a crowdfunding site and take their business to the next level.
Disclaimer: The images used in this post have been found on the internet and are used for informational or illustrative purposes only. The brand and trademarks depicted in these images belong to their respective trademark owners. We do not claim any ownership or rights over these images or the brands they represent.
Learn From the Makers - Lego
Lego is a world-renowned maker brand that has captured the hearts of people of all ages. Lego was founded in 1932 in Denmark by Ole Kirk Christiansen, who was a carpenter by trade. In the early days of the company, Lego produced wooden toys, but soon after, they began producing plastic toys, which eventually led to the creation of the famous Lego bricks. Lego is a maker's brand because it has always been focused on creating products that inspire creativity and imagination.
Lego's history is one of innovation and resilience. One of the critical moments in the company's history came in 1947 when the company began producing plastic toys. This marked a shift in the company's focus and set the stage for the creation of the iconic Lego brick in 1958. The Lego brick was a huge success, and the company quickly became known for its high-quality toys that encouraged creativity and imagination.
Over the years, Lego has continued to innovate and grow, expanding its product line to include licensed products, video games, and theme parks. However, in the late 1990s, the company experienced a decline in sales, and it was on the brink of bankruptcy. But instead of giving up, Lego decided to refocus on its core values and products, leading to a revival in the company's fortunes. Today, Lego is a hugely successful company, with a strong presence in the toy industry and a devoted fan base.
What Can We Learn From Lego
Lego's success can be attributed to its maker's scale up strategy, mindset, and approach.
Disclaimer: The images used on this webpage have been found on the internet and are used for informational or illustrative purposes only. The brand and trademarks depicted in these images belong to their respective trademark owners. We do not claim any ownership or rights over these images or the brands they represent.
Learn From the Makers - Nike
Nike's Early Days
Nike is one of the most popular brands in the world, known for its athletic shoes, apparel, and accessories. The company was founded in 1964 by Bill Bowerman and Phil Knight and originally named Blue Ribbon Sports. At its early days, Nike was a small company that operated as a distributor for Japanese shoe company Onitsuka Tiger. Bowerman, a track and field coach, and Knight, an athlete, had a vision of creating shoes that were lightweight and comfortable, yet durable and high-performing. They believed that a focus on the needs of the athlete could differentiate their products and that they could make a real difference in the industry.
History of Nike
Nike's early success came from the development of the waffle sole shoe, which Bowerman created by pouring rubber into a waffle iron. The design provided better traction and grip, and the company started selling shoes under its own brand name in 1971. The company's innovative products, combined with clever marketing and sponsorships of famous athletes such as Michael Jordan and Tiger Woods, resulted in a meteoric rise in popularity and market share. Nike went public in 1980, and by the mid-1980s, the company had become a household name.
Throughout the years, Nike has experienced its ups and downs. The company has faced controversies around labor practices and working conditions in its factories, as well as criticism for some of its advertising campaigns. However, Nike's success has largely been due to its focus on innovation and a dedication to meeting the needs of athletes.
Lessons Learned from Nike's Maker Mindset
In conclusion, Nike is a great example of a maker's brand that has achieved incredible success by putting the customer first, innovating, and focusing on building a strong brand. Makers can learn a lot from Nike's history and approach to business, and apply those lessons to their own endeavors.
Disclaimer: The images used on this webpage have been found on the internet and are used for informational or illustrative purposes only. The brand and trademarks depicted in these images belong to their respective trademark owners. We do not claim any ownership or rights over these images or the brands they represent.