For every inventor, artist and entrepreneur who dream up the new perfect products that meet consumers’ yet undiscovered needs and end up making a fortune, there are probably ten times as many people who never get their latest and greatest ideas off the ground. And even when a prototype of your invention is developed, what next? How do you determine where and how to patent the idea, manufacture the product, etc.?
Stan Coben, president of Global Link Partners Ltd., a firm offering sourcing and consultation with specialized product design and development, merchandising and related concerns, shares some of the points that need to be considered and dealt with as you develop your perfect solutions to meet consumers’ needs.
1. The New Product Idea Or Innovation
Comments Coben, “You may have just invented the world’s best nutcracker. If it’s really any good, you’ll want to patent it and get it produced. But if you can’t trust anyone with your idea, what are you supposed to do? Sit on it like a mother hen?”
If your ideas fall into the wrong hands, someone else can and will end up profiting! How do you know your intellectual property will be protected? Global Link clients sign a non-disclosure agreement with the firm that promises that the ideas and related information, materials and prototypes, if they exist, are kept confidential. If the competition finds out about a new product before it’s on the market, the results can be devastating. Be sure to contract with a firm that offers this written promise of confidentiality to you.
2. Service Expectations
Business changes and evolves quickly in our country and internationally, particularly in Asia. Manufacturers change hands and locations, and new companies spring up constantly. Communication can often be difficult and frustrating. That’s why it is important to partner with a firm whose representatives travel to Asia on a regular basis, talking to the manufacturers personally.
Ongoing communication and a regular presence in Asia assure you that your interests are being monitored in both hemispheres and that the best sourcing solutions for your product will be found. It’s also important to find a firm such as Global Link that offers an array of services tailored and customized to meet your individual needs.
3. Elimination Of Exportation and Importation Issues
Navigating the stringent and ever-changing rules of US Customs can be difficult to impossible for any businessperson who doesn’t have a solid understanding of and substantial experience in importing and exporting. Mistakes can be incredibly costly.
Make sure that you either develop the expertise or find the necessary expertise to ensure that your product, when it is manufactured and packaged overseas, will be export-ready, saving you time, legwork, and headaches as you plan for its importation into the United States. Global Link Partners offers this consultation service.
4. Product Development
If you are an inventor, an artist, or anyone new to product development, the value of having an experienced associate assisting you through every stage of product development, from concept to marketing becomes immeasurable.
“There are always so many details and complications that must be addressed to get a new product produced, as well as an understanding of retail pricing and marketing that an inventor generally doesn’t have,” explains Coben. “It’s important to have a guide to this the practical world.”
Contracting with a firm such as Global Link Partners can provide you with an extensive network of artists, engineers, manufacturers or marketing experts — with specialties in the area with which your product requires assistance.
5. Marketing and Merchandising Experience
Coben and others in his field of expertise, offer a comprehensive understanding of the many niche markets that have developed through the years with both depth and breadth of experience that can directly benefit you and your product. Even the most brilliant new products will languish if they aren’t successfully marketed.
“You may have a wonderful product, but you can’t just throw it on the counter of a chain store and make it sell,” says Coben. “You have to have a solid plan for marketing and promotion. People need somebody with a practical eye who has been in the marketplace, and who will understand that it’s a great idea, but that it requires marketing and management to make it successful. They need a devil’s advocate who can say ‘this is a good start, but it needs some tweaking.”
With a firm like Global Link Partners at your side as you develop a new product; your chances of success dramatically increase. Global Link provides the sourcing service to find products or arrange for certain products to be produced in other countries where the appropriate manufacturing facilities and workers with the necessary skills are located. The firm also provides the necessary knowledge regarding importing regulations and tariffs as well as pricing expertise for all levels of the procurement process. Global Link Partners acts as a conduit to introduce and facilitate business relationships between foreign and domestic manufacturers, artists, product specialists, shipping companies and US business owners to make the best use of each business entity’s strengths, developing the optimal final product for purchase.
Global Link Partners provides the expertise to enable every organization in the production and sales process to make a profit and to keep American consumers satisfied. For more information about Global Link Partners, call (216) 650-0804.