BUILD A BRAND FIRST
Just read a success story about a new venture. The founders had an idea for a new product. While working full time at their current jobs, they spent two years in the research and validation process. They decided that there was a market and it was financially feasible.
With only an idea, and not much money they came up with a brand name. Using Instagram as their main outlet, they shared the benefits of their new product and at the same time they worked on the production of their new product.
Before they started selling their product they had over 7,000 followers on Instagram. In my opinion, this allowed them to have a possible clientele when they were ready to go to market.
The product, which was only an idea in 2013, was the creation of natural toothpaste which had no chemicals of any kind and would not hurt anyone if it was swallowed. Even more amazing was that their first batch of toothpaste was made with material they bought on Amazon.
As a start up, they had a hard time getting suppliers and manufactures to work with them but perseverance finally payed off and they were able to go to market.
By 2017 the products were sold nationwide including places such as Target and Urban Outfitters. The name of their toothpaste is Dr. Brite. Recently they pitched their concept to the Troy Burch Foundation and won. The funds they received allowed them to rent a 10,000 sq. ft. work space and to hire a lab assistant and employ a manufacturing team.
Their advice to others is short and simple:
- Abandon your safety net.
- Build your brand first.
- Choose quality over quantity
- Grow with intention.
Each of us can achieve our vision if we don’t give up, have a vision plan, work hard, have perseverance and most important believe in what you are doing.
Tips & Advice by Nick Petra, CFP – Founder of Strategic Duck and BizQuack
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