Bringing a Product to Market

1. Think Like an Entrepreneur
Gary Bronga

2. General Course Objectives
Upon the completion of this course the student will be able to:
• Assess potential to become an entrepreneur;
• Be aware of ways to generate ideas and how a fertile human mind can
be an idea machine;
• Identify changes and trends as a source of new business ideas
• Discover career paths to develop entrepreneurial skills
• Identify personal goals, background, hobbies, interests, experience,
abilities and financial resources that impact the choice of business
• Acquire knowledge about legal issues and ethical business choices.

3. Creative Thinking
•Brian Levin’s Jerk Test
•Brainstorming
•Life Observations
•Mechanisms to Generate Ideas

4. Self-Employment Pros/Cons
•Job Security Issues
•Rising Capital
•Time management
•Starting a Business while still
employed

5. Developing Entrepreneurial Skills
•Career paths that can help develop
entrepreneurial skills.
•Study and read successful stories
•Learn from life around you
•The lifestyle entrepreneur
•Web and social marketing

6. Teen Entrepreneurs
•Expenses are low
•Lack of skills
•Capital
•Experience
•Our society has not told
them they can not do it
•They have the time and
energy

7. Protecting Your Idea
•Patents
•Trademarks
•Copyrights
•Non-Discloser Statements
•Web domain and DBA
•Sell the most the fasted for market share

8. Patents
•Do you need a Patent?
•Types of Patents; Utility and Design
•Provisional Patents
•Patent it yourself
•Patent Pending
•New Laws

10. Running a Business
•Limiting personal liability-the business
structure
•Fanatical software and your customer
list and funding
•Business phases and cycles-start with
the end in mind
•Public Relations over advertising

11. PROTOTYPES
•Locally
•SBDC
•Dun and Bradstreet Directory
•Search engine
•Local Inventor clubs

12. Finding a Manufacturer for Your
Product
•USA or Asia
•More than one manufacturer
•Non-disclosure forms
•Ask for references and check them

13. Will my Product sell?
•Trial period
•Test prices
•Colors and durability
•Test for retail sales
•Test for wholesale sales
•Test, test and test some more

14. Early Marketing and PR
•Friends and family
•Niche marketing
•Trade shows
•Catalog buyers
•Online sales and blogs

15. PR- The Benefits of Press Releases
•Sales
•Community awareness
•Shipping rates
•Banking benefits
•Many advantages over advertising

16. Financing a New Business
•Begin Small
•Keep your day job
•Avoid debt
•Use your time and effort instead of
money

17. Starting a Business in a Down
Economy
•The 1930’s
•Less venture capital
•Buyers have more time
•Mail volume decreases
•Everyone is open to negotiation

18. Negotiating
•Everything is negotiable
•Price negotiations
•Quantity price maneuver
•You got to do better than that
•Everyone is open to negotiation
•Win-win vs. win-lose

19. Persistence, Commitment and
Integrity
•Merchandise buyers
•Dealing with mistakes
•Customer service

20. How to Bring a New Product to
Market in Three words
•Read
•My
•Book