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Successful Start- Ups A Contract M a nufacturer’s View. Mike Peters - March 13th 2013. Overview. Agree objectives Have a clear strategy Know your customer Know your market Your business plan Your organisation & people Your manufacturer. Agree Objectives.

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Successful Start-Ups

A Contract Manufacturer’s View

Mike Peters - March 13th 2013


Overview

  • Agree objectives

  • Have a clear strategy

  • Know your customer

  • Know your market

  • Your business plan

  • Your organisation & people

  • Your manufacturer


Agree Objectives

  • Be clear on why you want to launch a brand or product?

  • What do you want to achieve?

  • Why does the retailer / consumer need YOUR product?


Your Product

  • What is it?

  • What does it do?

  • Pricing strategy

  • Promotional strategy

    • Be prepared to provide promotional support

  • Sales and distribution

    • Is it better?

    • What difference does it offer

      • The consumer

      • The retailer


Your Customer

  • Be clear on YOUR consumer

  • Who is going to buy it?

  • Why are they going to buy it

  • Will they repeat buy?

  • Has it got longevity?


Your Market

  • Competition is fierce

  • - Monitor your main competitors – knowledge is power

  • Why can your product make an impact

  • How can you compete in a crowded market

  • Be realistic

    • Enthusiasm is required

    • Don’t let it blind you to the realities

  • Rewards can be great

  • Risks are equally great


Your Business Plan

  • Write a thorough business plan

  • All aspects of your market

  • Competition

  • Financials

    • Beware of cash flow

    • Critical for start ups

  • Be prepared to share it

    • Others will see your plan

    • They may be able to help

    • Important to have the trust of stakeholders

    • B

Always have a Plan B


Organisation & People

  • Don’t get overstretched

  • -Think BIG but start realistically

  • Employ the right people

  • Employ or Partner with the best


The Brief

  • NPD should begin with a detailed brief

  • Be clear on product benefits

  • Be clear where it will sit

  • Give a good indication of the target cost of goods

  • Research your market, ingredients, packaging etc


Your Manufacturer

  • Choose carefully

    • Depending on your brand and vision different manufacturers will be more suitable

  • Share

    • Your vision

    • Your plan

  • Develop a relationship

  • Brief well

  • Be prepared to show you have financial viability

  • Trust the manufacturer’s expertise, while being clear on what you want

  • Help your manufacturer(s) to help you get the right product, at the right price for you, your market and your consumer.


Summary

  • A new brand/product needs

    • A reason

    • A purpose

    • A difference

  • Always have a plan

  • Always have a plan B

  • Share your plans with those you want to partner with


  • If you have any questions, or you would like to discuss how UPL can help you to launch your brand please come and see me -

  • UPL are on stand 230


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