Product Startup

Raising money for building a prototype vs raising money for the full production run. An early crowdfunding failure - getting the positioning wrong, and how Khierstyn corrected this to have a $600k funding success.

Jill Bong is an entrepreneur, homesteader, and inventor of Chicken Armor - a different chicken saddle. She is also the author of over a dozen books on homesteading and self-reliant living. In this episode, we learn about * Why Jill and her husband created their product despite established competition in the space * Differentiating the product from competitors * The design drivers - few components, washable, easy to manufacture, and low cost * The process of working with material suppliers * Keeping startup costs low - "We almost had no choice, we had to work with a shoestring budget, or almost no budget in this case" * Why it's rare to come up with your final product on your first try and the iterative part of product design process * Taking a year (multiple seasons) to test the product * Jill's experience getting laughed out of a gardening forum - and landing her first user who was also a business owner with a similar experience * Selling Chicken Armor on eBay to validate the market * Handling customer objections and their perception of quality through money back guarantees and up-front education * Why Jill and her husband abandoned pursuit of a patent * Why they haven't scaled up to large scale manufacturing and distribution or branched out into other designs and target markets * When sales actually picked up and Jill's solution to marketing and outreach (especially for unique products) * The product sales as a result of mentions in large broad publications versus small targeted outlets * Their most successful marketing tactic - pitching to the editors of publications and appealing to their audience worked better than influential bloggers and magazine ads * Some of the other passive income streams that Jill has started * How to know when you should continue validating your market, and when to quit Links and resources mentioned in this episode * Website * chickenarmor.com * byjillb.com * Social Media * Twitter: @chickenarmor * Facebook: facebook.com/chickenarmor * Instagram: * Pinterest: pinterest.com/chickenarmor * Google Plus: +Chickenarmorsaddles

The business case behind starting the company with an existing product instead of a new design. We also get into the process of purchasing a one-way valve from a medical company in the USA and incorporating it into new drinkware.

We explore how Josh started the business with infinite possibilities (near infinite scents) and broke down other brand's successes. His early challenge: educating customers on unisex scents

Having a focused impact on smaller problems - you don't need to find a cure for cancer or end world hunger. Changing a cultural behavior to address to root of a problem. Common characteristics of social entrepreneurs - courage, persistence,

How Lisa tested her products against competitors and stayed objective to improve her product's performance. We also cover Lisa's approach to protecting her ideas, patenting and trademarking what she can and publicly disclosing ingredients to put her cu...

How Brandon focused on the crowdfunding aspect after his own product launch to help others grow their business. We cover the three main mistakes most people make on crowdfunding campaigns and what makes a really good video that captivates your audience.

Why creating a multi-height shoe was a design and engineering problem (it took 2-1/2 years of research and development to solve) and how Tonya used feedback and testing to improve on the designs, early in the development process.

Why Robson turned down a large licensing deal after 1-1/2 years of negotiations to manufacture, market and sell the product himself and how the company chose its product line by identifying markets that were doing well in the 2008 downturn.

Terry got into social entrepreneurship by volunteering at an animal rescue. We learn how he started through Instagram account and Kickstarter. We also get into finding manufacturers and getting better pricing on smaller orders.

How Tamar tested the market and developed a personalized product to help everyone feel better. We also talk about how Tamar creates a genuine, personable experience for customers.

Creating an ecommerce strategy for your product-based small business, including making the most of social media, emails, and customer feedback.

How Megan developed the prototypes for WINK based on publically-available research and started her small business for under $2000. Megan talks about testing the proof of concept with a small group of users and finding a contract manufacturer and fulfil...

Why Matt and his wife decided to buy Joan's Caramels and how they are working with local wineries to infuse caramels with their wine. We also get into increasing sales for both businesses by creating a unique product and selling to companies direct vi...

How Susana and Caroline saw a niche in the market and formed a partnership - as cosmetologist and client. How they developed and tested products for almost a year, and created multiple products for the main concerns - and narrowed down a list of produc...

Why Jennifer and her partner thought they could improve on the design and sell it for more than the existing models. User-centered design and how they worked with over 300 users to refine the product - including going to grocery stores with them and in...

Damien is ex-Australian Special Forces, a former City headhunter, a single dad of two and stage 4 cancer survivor. Learn how he landed a contract with the world's largest catering company, Compass Group, to get into universities in the UK,

How Luke and Chrissy got started without any experience in the food industry for under $2,000. We talk about selling wholesale to cafes and restaurants and how they tested recipes and found their target market and validated their ideas by talking to th...

How The Party People partnered with 3M on new products (their best selling item). About issues in releasing a new product - false starts and customer "teething" and the emerging personalization / customization trend.

We learn to focus on our secret sauce, "Take what you know, listen to customers, and spot trends....build a product that doesn't re-create the wheel"

How Kelly got her "Lightbulb Moment", launched, and sold her first product in five months with under $5,000 in funding and why Puppy Cake manufactures product in-house.

Hear the different ways each founder validated their ideas and confirmed (as best they could!) that there was a market. Also hear their best tip for bringing a product to market.

The importance of testing your idea, and how Tony did it on a minimal budget. Why you can't worry about people stealing your idea and Tony's battle to get on Shark Tank (and how the publicity from appearing on the show didn't live up to expectations).

A solo episode on validating product ideas, the true value of an idea and creating prototypes on any budget.

We also cover advertising - implied endorsements vs. fair-use, trade secrets, patents, trademarks, and copyrights.

How Doug got the $80k in financing he needed to start his business before Shark Tank. We get into applying for Shark Tank, legal stipulations for appearing on the show, and preparation and coaching guests get before they appear in front of the Sharks.

How Fabienne orchestrated a $100k+ Kickstarter campaign on her own (and why she doesn’t recommend it to everyone). The three pieces of advice from successful Kickstarter mentors that helped her be successful

How Kelsey found a deeper problem that needed solving and created a product to solve it - "it's OK to be indecisive." The path a swimsuit takes from idea to prototype to market and how she was able to recruit collaborators and designers to work with he...

This episode shares how Mat formed his idea, brought it to life, and started selling miniature cinder blocks, as well as how his team 3D printed, prototyped, and tested ideas for under $500. Learn about their strategy for quickly growing revenue and how they decide which products to develop.

Brad Summey created Savage Jerky Co., an all-natural, craft jerky brand, to fill the void for spicy jerky in the marketplace without any food industry experience.

Heidi Pungartnik is a designer turned entrepreneur. She writes and speaks about the importance of graphic design in business.

This episode delves into how David came up with the idea for his men's shirt accessory and tested it himself, the design tradeoffs he had to consider, and how testing helped him with those decisions. He also explains why he chose to manufacture it abroad, for now, and how he interviewed patent lawyers to ensure the selection of the right one...

Why is now the best time for DIY Product Development? In short - access to consumer data, access to rapid Prototyping equipment, simplified computer design tools, popularity of crowdfunding, simplified e-commerce growth of online brokers.