Geoff Ficke

A Managing Consultant should be able to take a project from idea or concept stage, to market launch. The capacity to manage product development, prototype and product design work, source manufacturing, and organize logistics, create customized Marketing Strategies, handle Public Relations, produce creative elements, packaging design, develop funding possibilities, and Sales Models are only a few of the work product elements that successful Managing Consultants should be able to provide.

Short run, hobby business-like volumes represent a distortion of the Sales Model. Unless the entrepreneur wishes to operate a low volume artisanal business it is vitally important to find the best sources of supply and manufacturing and to develop the accurate cost of mass production in hand with the chosen supplier.

Brand Extension is a technique that we have practiced on our products and for client Consumer Product brands for many years. It is a wonderful way to grow a mature business. But remember, the Brand Extension must make sense to your most important asset, your customers and clients. Do no harm!

The process of starting a business or launching a Consumer Product is arduous. There is a reason for this. If it was easy everyone would be doing it and they are most certainly not. The difficulties inherent in getting a product off the ground act to cull the marketplace and serves as a type of Merchandising Darwinism. Merchants, distributors, investors, venture capital, strategic alliances and partners all seek out projects that survive the development process.

I am often asked by media interviewers, prospective entrepreneurs and college students I mentor to identify the most important qualities that are present in successful small business start-up owners and innovators. Obviously there are many personality traits that contribute to success in every sort of endeavor. Honesty, hard work, creativity and a positive mental attitude are only a few. However, I think that there are five traits that are essential keys to achieving entrepreneurial success.

Launching Consumer Products with an Exclusivity distribution Marketing Strategy and Sales Model is a course we often we choose for client projects. Once a market has been penetrated, and consumer demand is stimulated for a product it is always an option to replicate the item in a lower price point presentation. You can always come down in price.

We see many entrepreneurs confuse the importance of being first (and it is important) with the more crucial goal of being first and executing on strategy. One without the other is like a beautiful sports car without access to fuel. Neither goes very far.

My Consumer Product Development and Marketing Consulting firm is approached almost daily by entrepreneurs seeking to launch a new enterprise. For many of these aspiring business owners their primary concern is the funding requirements they believe will be required to enable execution of a proper launch. Many assume they need to raise funding from angel investors, venture capital or banking sources. Very few will succeed by taking this path.

Bootstrapping a business is not glamorous, but it is the most useful, and practical method to grow a new business or product that is available to any driven entrepreneur. This is the technique I utilized to start my first business many years ago. If the strategy is successfully executed it can quickly lead to doors opening to investors and funding options.

This week I was forwarded a Business Plan from a Venture Capital principal for whom I perform consulting services. This gentleman had read the elevator pitch for the product and had initial interest in the proposition. He requested that I review the document in detail and mark up the key points that would be of much, or of no interest to his firm and make a recommendation as to the viability of the project.