Manufacturing seems like it should be the easiest part of making a new product. You scour Alibaba for a suitable partner, ship your plans overseas, and await delivery of the finished product, right? Don’t be fooled. It’s not only more complicated than that but you may have to sell someone in China on the value of producing your widget at all.
Best-selling author and Build-A-Business competition mentor Tim Ferriss has some advice on how to move your idea from a prototype and into manufacturing, without spending a fortune. Doing this step the right way can be the difference between success and failure for a company that is in the process of scaling up.
This mentor lesson is part of Shopify’s Build-A-Business competition, which encourages anyone with an idea to start an online business. Winners will each get a $50,000 investment from mentors like Tim, Daymond John, Tina Roth Eisenberg, and Eric Ries.
Check out the previous mentor lessons:
Tim Ferriss On How To Start Your Million Dollar Side Business
Tina Roth Eisenberg’s 8 Mantras For Success
FUBU Founder Daymond John’s Advice For Launching Multi-Million-Dollar Businesses
Entrepreneurs Are Everywhere. Eric Ries Knows What They Have In Common