What are three common pitfalls when starting to manufacture your own product?
Oh hindsight, it’s a thing, am I right? I can’t say that mine is 20/20, but it’s pretty close, lol.
When I look back over the past 8 years (gasp!) of creating, manufacturing and selling product I have a few mistakes that I made that stand out. I wish I could go back, but they also added so much value to where I am now, I wouldn’t call them pitfalls, more of a big DANG IT!!!!
1. Not ordering samples. If you have been reading these posts for a while now, you know I am a big fan of getting a sample. It is not always possible that you get a sample with your artwork on it, however, it is usually possible to get a sample of material. For example, you may not get a printed sample of your design on a greeting card, but you can get a paper sample pack and check the quality.
I made this mistake with my very first order of washi tape. I didn’t order any samples. Big woops! I received 300 rolls of washi tape that didn’t stick. It was waxy, not smooth, it was just awful. Lesson learned, and stuck (ha ha ha)... order samples or a sample pack.
2. Going all in. Yes, we are excited, we found the perfect product, we are so sure of it, we feel it in our bones! I still get this feeling when I am excited about something. And we order a ton of products with no real plans on how to sell it. Yikes.
Remember the time I ordered 500 sets of gift boxes? Last year? LAST YEAR! I still do this you guys! I don’t want to discount your ideas or your ability to sell, but I thought these would be flying off the shelf and I am still giving them a go (obviously with 400 in stock)… but man, it has been a slow start. Here are a couple of things I could have done differently: negotiated or found a different vendor where I could have ordered less AND surveyed my wholesale list. It’s important to sit back and evaluate why it is not working.
3. It’s a numbers game. Most artists love the process of creation, it’s our zone. It's where we get to be unapologetically ourselves… How wonderful! Numbers? I happen to love numbers, but I understand when some people don’t. It’s hard to not get excited about a product and think it will magically sell and we will make a living and send our kids to college, right? Well… we have to look at the numbers.
We are creating products with our artwork to make money. If you aren’t, that’s fantastic, send me a postcard from Tahiti… for the rest of us, I am with you. Look at the cost and calculate all the pieces by 4. (cost x 4 = retail). Will you be competitive in the market? Are you overpricing your product? Did you include shipping and packaging? Gather all the numbers and do the math. Triple check it. Have your brainy friend look at it. Sometimes we are so close to these numbers that we overlook a huge piece. Don’t have a brainy friend, send me your numbers. I will do some quick math for you! Really!
Ordering and selling product can be one of the most rewarding things to do. I am cheering you on! We all mistakes, it’s how we move forward after making that will make us stronger and more business savvy!