You have heard Vanessa and I preach about being a good retailer partner. Getting on the retail shelf is one accomplishment; staying there is another. Past tips have included the importance of customer service, inventory management, and quality product. http://tinyurl.com/qeyf2ta and http://tinyurl.com/qjvsfax In Vanessa’s most recent blog post, “Target Pitch: 3 Ways This Little Brand Turned… Continue reading From the Entrepreneur’s Perspective: Tips for Being a Good Retail Partner So Your Product Stays On Shelf
Congrats. You got your product on the retail store shelf of a regional or national chain. But, wait, some things are amiss. Your product is not merchandised correctly. It’s not forward-facing because the store shelving doesn’t allow enough room. The POP (point of purchase) display tray that you supplied to the retailer with your product… Continue reading From the Entrepreneur’s Perspective: In-Store Execution – what you have control over, and what you don’t.
Let’s play out this scenario: You receive word that your product will be launching at Retailer XYZ. You are told by your buyer that you will be going into 1000 stores. Awesome/congrats. And, by the way, your PO has not been officially issued. It won’t be issued until approx. 1 month before you must deliver… Continue reading From the Entrepreneur’s Perspective: What to consider when retailers increase/decrease inventory quantities after placing an order
Can’t blame a buyer for asking for an exclusive. Whether you give it to them is a different story. Ask yourself the following questions to determine if this is the right opportunity for you. Is this the only option for landing the deal? Probably not. Explore other options first. When you offer an exclusive, you… Continue reading From the Entrepreneur’s Perspective: Exclusivity – How to Respond When Retailers Ask for It
Four tips for continuing your dialogue with a buyer after a meeting. In the day or two following your meeting, send a thank you email or hand-written note card to the buyer thanking them for their time and interest. It shows your appreciation, indicates that you have continued interest in doing business with them, highlights… Continue reading From the Entrepreneur’s Perspective: How to continue the momentum AFTER your meeting with a buyer.
You already know it’s critically important to actively network. But how you network is of even greater importance because you don’t want to put people off. Following are some tips for developing mutually respectful relationships and reciprocity. Know what you want and be specific in your request. When you ask for someone’s help, be specific… Continue reading From the Entrepreneur’s Perspective: Product Entrepreneur’s Guide for how to network & ask for help without putting people off
Retailers lining up at your door. What a great problem to have, right? Maybe. If you are prepared. Let’s start with prioritization and then conclude with some preparation considerations. You can help to prioritize who you do business with by examining a number of key factors. Know your target audience. If you know who you… Continue reading From the Entrepreneur’s Perspective: I have all these retailers who want my product line. How do I prioritize?
If you are going to hire a sales rep, following are some questions to ask: 1. Which companies and products do they currently represent? Why: because you want to make sure they are representing credible companies/product lines. Ask for references, and call those references and find out how long they have been working together. You… Continue reading From the Entrepreneur’s Perspective: Questions to ask when interviewing a sales rep
First things first. Yes, that is me. As entrepreneurs we are all selling something, a product or a service or both. Don’t you wish you could bottle up a good belly laugh and sell it? You’d get top dollar because a good guffaw makes everyone feel…well, AWESOME. As entrepreneurs we are often entrenched in the… Continue reading From the Entrepreneur’s Perspective: Does it pay to have a belly laugh? What does it have to do with running a business, you ask?!
Yes. But you need to be able to vet out credible retailers and/or distributors who are aligned with your sales channels. And this takes time – and it helps to understand how to vet. Following are some tips for vetting, other considerations for your negotiations, and why you may want to sell globally. Let’s start… Continue reading From the Entrepreneur’s Perspective: Does it pay to go global?