I joined this forum a few weeks ago. I have spent many hours reading the interesting posts on this here - some stretching back years - to be a better informed poster before I started asking questions. All good stuff!
I have developed a new product as an accessory for consumer electronics, specifically for laptop and tablet computers. I don't want to divulge the product yet because I am going through the patent process at the moment. For the sake of the discussion let's just say it's a new kind of computer case.
I've spent a lot of time thinking about the product design, materials, potential producers, packaging, sales and distribution processes, who to market to, etc. I've talked to the local University business outreach center and their standard response for start-up support is to send me a B-Plan template and tell me to complete it and when finished come back to see them. I think this is fine if I were starting a restaurant or convenience store, but I don't see it as being helpful for a company that is developing, producing and marketing its own products.
I've worked in the corporate world and the military for a number of years, and one of my pet peeves is to generate paperwork just for the sake of generating paperwork. I don't intent to go to a bank or to investors to get a loan for this business for now so I don't see any value in completing some of the standard sections of a traditional B-plan.
So my plan is to create a different plan, but one that serves my priorities for the business. I will be starting the business from a spare bedroom for now so I won't have B&M overhead or HR issues to contend with. The focus of my plan will be on the steps and timeline I will need to follow to develop and market my product. In this plan I will flesh out:
1. Proposed marketing channels, such as retail stores, internet, Amazon, Ebay, Wholesalers/Distributors, Tradeshows, etc. and how to reach them
2. Identifying contract manufactures
3. Protecting the product (patent)
4. Packaging, Trademarks, Logo, Branding
5. Website development
6. Sales fulfillment and distribution
7. Acquiring business support systems, such as QuickBooks and/or inventory tracking software.
These are the high-level topics. Is this a sound approach? Am I missing anything? What else should I be considering when introducing a new product.
Thanks,
Pita
I have developed a new product as an accessory for consumer electronics, specifically for laptop and tablet computers. I don't want to divulge the product yet because I am going through the patent process at the moment. For the sake of the discussion let's just say it's a new kind of computer case.
I've spent a lot of time thinking about the product design, materials, potential producers, packaging, sales and distribution processes, who to market to, etc. I've talked to the local University business outreach center and their standard response for start-up support is to send me a B-Plan template and tell me to complete it and when finished come back to see them. I think this is fine if I were starting a restaurant or convenience store, but I don't see it as being helpful for a company that is developing, producing and marketing its own products.
I've worked in the corporate world and the military for a number of years, and one of my pet peeves is to generate paperwork just for the sake of generating paperwork. I don't intent to go to a bank or to investors to get a loan for this business for now so I don't see any value in completing some of the standard sections of a traditional B-plan.
So my plan is to create a different plan, but one that serves my priorities for the business. I will be starting the business from a spare bedroom for now so I won't have B&M overhead or HR issues to contend with. The focus of my plan will be on the steps and timeline I will need to follow to develop and market my product. In this plan I will flesh out:
1. Proposed marketing channels, such as retail stores, internet, Amazon, Ebay, Wholesalers/Distributors, Tradeshows, etc. and how to reach them
2. Identifying contract manufactures
3. Protecting the product (patent)
4. Packaging, Trademarks, Logo, Branding
5. Website development
6. Sales fulfillment and distribution
7. Acquiring business support systems, such as QuickBooks and/or inventory tracking software.
These are the high-level topics. Is this a sound approach? Am I missing anything? What else should I be considering when introducing a new product.
Thanks,
Pita
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