When you're a small business owner, you're a one-person show. In addition to delivering a product or service, you're responsible for less-thrilling business operations like accounting.
Caesar Chu got the idea for his business, The Original Whiskey Ball Co., while visiting a bar in Asia. The bar served drinks with giant ice balls shaped using an expensive machine, and Chu wondered how he could achieve the same result with "a low-cost product for the masses."
Pricing your products seems straightforward: calculate manufacturing costs and then add a certain percentage on top of that. Profit! If only it were that simple. You have competitors to consider, overhead beyond just manufacturing, and likely possess a human body that requires food in order to continue existing. How can you balance all that?
Most small business owners and entrepreneurs are interested in building out their product idea, not fussing with a 3D printer. The promise of “press the print button" and, voila, your product prototype is ready within minutes — is a myth. The best way to prototype is to use one of the many 3D Printing Service Bureaus.
You've developed an idea for a new product and want to make a prototype. Where do you find the right prototype maker, and how do you protect your design?
Every entrepreneur wants to dream up great, salable products. Bringing that big idea to life is another matter entirely. From idea to prototype to production, winning products can take years of expensive trial and error, especially if you try to do all the manufacturing yourself.
You've created an awesome product and you're confident people will buy it in droves. Here's the problem: How do you determine just how much of that product you should order for your first run? You don't want to run out-of-stock (though there are worse things in the world seeing as Apple, Nintendo, and other popular brands do so all the time), but you also don't want to see stock piling up in storage because you manufactured too much.
We'd all love to believe we're born inventors, but more often it's good research and development that leads to market-making products. But how do you perform good product R&D as a solopreneur or the leader of a small team? It's actually easier than you may think.
When creating physical products, one of the most important predictors of success is to price them properly. Part art and part science, finding the right pricing strategy for your products can be difficult.
Life doesn't end at 60. Or 70. Or 80. Or any set time. There's certainly no requirement that you sit by and wait for the end just because you've passed a certain age.
Start Your Something
At Weebly, we believe that everyone deserves a chance to build something new and do what they love. The Inspiration Center features experts sharing what they've learned about starting and growing these types of big ideas.