| We've all done it - have a few beers with the mates | | | | the appropriate certification. Secondly, you need a ... |
| from the office and suddenly there on the napkin is the | | | | pay attention... a PURCHASE ORDER. |
| best thing-a-ma-jig you've ever seen. Everyone | | | | A purchase order is your whole goal. Not a promise, |
| screams, "We're gonna make a million!" You start | | | | not a handshake, not a hunch - you want a piece of |
| some basic research and then throw caution to the | | | | paper with a price, a quantity and a delivery date. If |
| wind and whip out the credit card..."I've got to make this | | | | you don't have that -STOP! Do not collect $200 and |
| now! Christmas is only a month away, how hard can it | | | | do not pass go. |
| be..." | | | | With a purchase order all things are possible. It may |
| Well, it doesn't have to be hard but there are lots of | | | | sound like the chicken before the egg, and you should |
| people out there who will "help" you make it "easy" | | | | have a really good idea of who you want to |
| and lead you right into...bankruptcy. | | | | manufacture your product, but without a P.O. you're |
| Before you have to sell plasma to pay your creditors | | | | wasting everyone's time. |
| you might want to start with the basics of product | | | | Now, you have a red hot P.O. so you need to be |
| design. | | | | prepared. You must have a manufacturer you trust, |
| Do your homework! You're confident that you can | | | | who has provided a workable price and a realistic time |
| either be the first in a category or make a substantial | | | | for delivery. Pay them a visit in person and inspect |
| improvement to an existing product. Now, the big | | | | both the facility and the people that are doing the |
| question is always - how to get it manufactured? Here | | | | work. Remember Kathie Lee? |
| are some possibilities: | | | | What else have they done? Are they located near |
| Do it yourself -if you are capable, equipped and willing | | | | you or do you have to fly to check progress, quality, |
| it's not a bad idea, especially if you're not sure of the | | | | etc. Remember, proximity equals power - the farther |
| sales potential. It's best to plan for worst-case scenario, | | | | they are from you, unless you hire a rep you trust - |
| i.e. truly a best case, where you are overwhelmed with | | | | the less control you have over if and when the |
| orders. Who can you pull in to help, outsource to, and fill | | | | product is produced and delivered when you need it. |
| the order? | | | | We had such a scenario where we had a product |
| We have a buddy in the Detroit area who owns a | | | | that was both unique and well received by the buyers. |
| small tool and die shop with his brother and they are | | | | Although we didn't have stock, we took the gamble of |
| doing just that. They have a patented product that the | | | | ordering product and implementing a marketing initiative |
| auto companies (yes, they're still doing business despite | | | | that was costly but we were assured by the sales |
| reports to the contrary) love and are capable of | | | | rep that it would be more than worth it. |
| producing the product themselves with the help of a | | | | Two things happened, we did not communicate our |
| few other shops when times get busy. They're making | | | | product well enough to the reader (that's another |
| good money and having a good time. | | | | story) and secondly we couldn't deliver product to the |
| Have it made for you - to order. There are plenty of | | | | ones we did sell. The manufacturer was overseas and |
| websites that tout just such an ability from cards and | | | | we were at the mercy of e-mail updates. Week after |
| t-shirts to tables and shoes. You send them the order | | | | week orders dropped. |
| and they crank out the product. No inventory, no worry | | | | We pulled it out in the end, selling over a million dollars |
| about overstock but depending on the product, not the | | | | of product, but you'll save yourself a lifetime of grief by |
| quickest way to fill orders. | | | | doing it right the first time. |
| If you're looking to produce more than t-shirts and | | | | With some good research, some footwork and by |
| calendars online you'll need to find a manufacturer to | | | | following some fundamental rules you can be on your |
| produce orders. Here is where it can get tricky. | | | | way to producing the next big...well, that's for you to |
| You want to have two things before you reach this | | | | decide! |
| point: One, a prototype that has been approved by the | | | | ©2009 Jeffrey Abraham All Rights Reserved. |
| buyer and any relevant testing/standards lab with all of | | | | |