Entrepreneur Magazine: Bringing Your Product to Market

By Don Debelak

Book Overview

Build an empire step by step Don't risk a small fortune trying to make a big one. Let acclaimed consultant Don Debelak show you how to get your exciting new product off the drawing board and into the marketplace--without losing your shirt In this book, you'll learn what every inventor and entrepreneur needs to know about manufacturing techniques, product design, distribution channels, patents, licensing, and cash flow. You'll also discover how to handle some very tricky issues that are crucial to your success, including * Knowing when your product is market ready * Creating a step-by-step product-to-market strategy * Adjusting your strategy to changing market conditions * Finding financial help from investors, manufacturers, and distributors * Having manufacturers pay development costs prior to licensing Also available from the Entrepreneur Magazine library: * The Entrepreneur Magazine Small Business Advisor * The Entrepreneur Magazine Small Business Answer Book * Guide to Integrated Marketing * Human Resources for Small Businesses * Making Money with Your Personal Computer * Small Business Legal Guide * Starting a Home-Based Business * Starting an Import/Export Business * Successful Advertising for Small Businesses SPECIAL OFFERS FREE issue of Entrepreneur Magazine * 50% discount on Entrepreneur Magazine subscription * 1/2 price admission to any Entrepreneur Magazine Small Business Expo * Discount on American Entrepreneurs Association membership See details and coupons in back of book.

• Format: Paperback
• Language: English
• ISBN: 0471157503
• ISBN13: 9780471157502
• Release Date: February 1997
• Publisher: Wiley
• Length: 384 Pages
• Weight: 1.10 lbs.
• Dimensions: 1.0" x 6.1" x 9.2"

Customer Reviews

You Can Do It -- Often At Low Cost

This book's author, Don Debelak, is a strong believer in inventors marketing their ideas. However, he also covers the licensing approach. He realizes that raising money is the number one problem and he covers the whole spectrum -- from doing it with zero dollars to how to raise a million dollars. His advice is based on ten years as a new product marketing consultant. Throughout the book, he gives examples of the right and wrong moves people have made. My quick count (examples are in italics) indicated 106 examples. Don estimates that in any given year, in the USA, about 200,000 individuals are working on product ideas but, at most, 500 will succeed in introducing their idea. In other words, one in 400 will succeed! He stresses that in addition to the money problem, inventors should recognize the importance of three things -- that many revisions will be needed, that you can do it, and that you will need help from people experienced in your specific market area. The author emphasizes entrepreneurs believe many myths about money. One common myth is that you should not borrow money until you have spent all of yours. Actually, in startup situations, banks expect you to have cash on hand equal to the loan requested. He emphasizes getting investors early in the process. If more money is then needed, investors will generally seek to protect their investment by investing more money. Inventors often have no idea as to what the ratio of the selling price is to the cost of manufacturing. Quite often the selling price must be four to five times the cost of manufacturing the item. Few inventors seem to be aware of what sales, marketing and administration costs will be. Many inventors fail to do even elementary market research. Can you communicate your product's benefits in 5 to 10 seconds? Is it significantly better? Have you consulted an impartial panel or are you still in the dream world of kind words from friends and relatives? The author gives several suggestions for doing low-cost market research. You know your invention inside and out -- but do you know your buyers "hot buttons"? That is their motivations for buying products like yours. Don describes four basic reasons why people buy products. Unless you understand these, your sales pitches and your ads may fail miserably. He points out that everyone loves a winning product. Therefore, it is vital to give your product the appearance of gaining momentum. Don't crank out a mountain of product and hope it will sell -- get a mountain of orders and work around the clock to fill the orders. Don't assume a big blast of advertising is the answer. Many of the big advertisers succeed because they have established their brand names by years of advertising. Ads are expensive. Advertise, but analyze your results. He lists eight factors to be considered when analyzing the results of your ads. While Don feels making your own product is better than the licensing approach, he does list 12 key steps to

Why didn't I find this book before?

This is the book that I have been looking for! Finally, a book that walks me through step by step market analysis and determining if a product will sell.From inception of the idea, through the "Why does the world need my idea" to testing the idea, to actually setting up how to ask the consumer the RIGHT questions in deciding if the product is sales worthy, this book leads one through all of the steps.Items like price vrs cost of production was detailed. Will I be able to make a profit? Now I can tell!I found the "How to approach prospective clients" section extremely helpful with details on a presentation package to a list of the right questions to ask the prospective distributer. As an idea person, I needed to learn the marketing and the market reasearch part of the business. This book has done it.This invaluable book is worth every cent! Thanks!

The best product development book for individual inventors

I've searched for books on product development throughout over twenty years experience in engineering and inventing. This book offers very sensible guidance. It provides practical examples along with ballpark costs for every approach.The lessons you can get from studying this book are consistent with the lessons I had to learn from years of practice. I recommend it to all of my clients.

A no-nonsense detailed guide to product development

Over the years I have often perused the business sections of book stores in search of a detail-oriented book on developing product ideas and bringing them to market. There have always been dozens of books promising sure-fire riches that are about as informative as your average "Make Millions in Your Basement Selling Pocket Lint" infomercial. So, imagine my surprise when I came across this little gem of a book. Finally a book with details, tons of them. Finally an author who isn't afraid to let the reader know the intimidating chances of success, and equips them with all the information they could possibly hope for without actually getting their hands dirty.The author makes the distinction of ideas developed by individual inventors and those of major corporations. Because of our lack of capital and connections, we (the individual inventors) are at a disadvantage and must compensate with product ideas that meet higher standards. These standards relate to ease of distribution, product uniqueness, simplicity, obviousness of product benefits, and the cost of manufacturing relative to perceived retail value.With these "tenets" in mind, the author lays out assorted plans to help the individual develop their product and bring it to market as cost- and time-efficiently as possible. All along the way are details, check lists, do's and dont's, and helpful anecdotes.I was particularly impressed with the level of detail the author provides for almost every step of the development process. As an example, not only does the author mention the range of materials that can be used to build prototypes, but actually recommends plastic tooling materials (among others) by name.It is with this eye for detail that the author covers all the subjects in this book. The one understandable exception is the patent process itself which is beyond the scope of the book. However, the author does explain the role of the patent in the development process. Additionally, product licensing is covered in-depth.One other thing I thought was very helpful was the author's identification of key "go/no go" decisions. That is, identifying if your product is ready for the next step, and if it isn't, either making changes to make it ready, or abandoning it altogether and cutting your losses.Needless to say, I can't say enough good things about this book. It really shames all the other books I have read on the subject, and has given me a tremendous amount of confidence by answering so many questions, many of which I hadn't thought to ask.