How To Launch A Business Without Losing Your Goddamn Mind: Pt 4: Production

Recap:

Production

  • What is it going to take to actually produce a consistent and quality product?

  • Product concepts and testing

  • Knowing what it costs to produce your product; does the cost decrease if you order more units? What is that breakpoint?

    1. Wholesale markups

    2. Retail markups

  • Where is the inventory being stored and how are you going to track it?

    • Options for tracking: Asana, Excel, Google Sheets, Shopify, Quickbooks

  • What tools come with your e-commerce platform?

  • If you are selling on multiple platforms, splitting inventory

  • How much time does it take to produce more to restock your inventory?

  • Understand how much lead time you need for production

  • Save money to pay for restocking inventory

  • It’s a psychological phenomenon, people will pay more for a product and free shipping than they will for a lower priced product with high shipping rates. Even if you don’t want to put the full shipping cost into your price you can at least include a chunk.

Our brains can justify paying more for product, but the shipping cost is just “cashed burned.”

Strategy + Distribution

  • PR strategy for pre-launch

  • Time to build that email list! What can you offer before launch to incentivize people to give you their email so you have an audience to market to?

    1. How can you build your social following?

    2. The point is to build buzz and anticipation

Resources:

Samantha Welker