Don’t Forget About Production and Distribution Complexities

Don’t Forget About Production and Distribution Complexities

Global Sources Direct is a new initiative from Global Sources that aims to work with startups to help facilitate their growth and aid with scaling through marketing, pricing, and distribution. In other words? Ben is like a Fairy Godmother for hardware companies looking to get their lucky break.

The Takeaways

1) The Challenges of Modern Hardware Companies

Ben talks eloquently on the challenges that face modern hardware companies. While getting funding through various crowdfunding platforms is easier than ever, there remain considerable challenges specifically when it comes to scaling. It’s easy for a startup to get so bogged down with pitch decks and prototypes, that they overlook the process of scaling while keeping costs down.

2) Work Backwards

Ben recommends that companies ‘work backwards’. Think about the end goal and then work out the steps necessary to get there. Not only will this help you to keep your eye on the prize, it will also help you to ensure that you identify any potential obstacles and pitfalls along the way so that they don’t come as unwelcome surprises!

3) Avoid the Valley of Death!

Another particularly interesting part of the talk focusses on the ‘lifecycle of a venture’ and pinpoints a particularly worrying sounding ‘valley of death’. Watch the video to make sure that you know what the valley represents and how to avoid it!

There are tons of tips throughout the video. For instance, think about your distribution and remember that retailers are always trying to maximize the sales per square meter in their stores. So offer incentives by showing how you can help them to sell more!

 

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