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"Retail" Product Confirmation Advice?

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Bulgano

Contributor
Read Fastlane!
Read Unscripted!
Sep 12, 2017
64
89
Australia
Recently I've read through a number of; articles, books, and posts. A lot of people seem to suggest that the "best" way to verify if your product is a good idea is to verify it before you even start buying stock.
What I mean by this, is they suggest things like; Put some advertisements on Facebook and promote a product that doesn't exist yet, and gauge the feedback and use that to determine if your product will sell.

This obviously has various upsides as well as down, but I think the main problem with using this method is time. It takes an ungodly amount of time to do something like this.

So I'm curious to hear what do you think are the best ways to verify a product idea and see if it's viable?
Primarily speaking, this applies to physical goods, but feel free to share any thoughts you have in general.
 
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arcola

Bronze Contributor
Speedway Pass
Feb 17, 2013
291
205
Los Angeles
Recently I've read through a number of; articles, books, and posts. A lot of people seem to suggest that the "best" way to verify if your product is a good idea is to verify it before you even start buying stock.
What I mean by this, is they suggest things like; Put some advertisements on Facebook and promote a product that doesn't exist yet, and gauge the feedback and use that to determine if your product will sell.

This obviously has various upsides as well as down, but I think the main problem with using this method is time. It takes an ungodly amount of time to do something like this.

So I'm curious to hear what do you think are the best ways to verify a product idea and see if it's viable?
Primarily speaking, this applies to physical goods, but feel free to share any thoughts you have in general.

Who cares if it takes a lot of time. And it really doesn’t

I started a business on 11/9/2017. I made digital mock ups of products and it took me about a month to do that.

I sent it to a buyer at a major retailer I knew and he just gave me an order for $70k. Now I am actually making the product because I got enough lead time to do so.

Verify it first the feedback loop is so much shorter
 

Bulgano

Contributor
Read Fastlane!
Read Unscripted!
Sep 12, 2017
64
89
Australia
Who cares if it takes a lot of time. And it really doesn’t

I started a business on 11/9/2017. I made digital mock ups of products and it took me about a month to do that.

I sent it to a buyer at a major retailer I knew and he just gave me an order for $70k. Now I am actually making the product because I got enough lead time to do so.

Verify it first the feedback loop is so much shorter

So what you're saying is a good way to verify is to do some mockups, and distribute them to relevant stores and see what the feedback is?
 

arcola

Bronze Contributor
Speedway Pass
Feb 17, 2013
291
205
Los Angeles
So what you're saying is a good way to verify is to do some mockups, and distribute them to relevant stores and see what the feedback is?


If you are trying to go to retail
Yes
there is a little more finesse to it than that.
If you are marketing amazon or etsy or whatever make a sale page and when people try to buy say you are out of stock
Its so much smarter than big bets
 
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