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Live from China Magic, in this episode we have Kian Golzari giving us pointers on growing your business online and offline, valuable insights into supplying retailers and physical stores, and why you have to explore this facet of your business.
Live from China Magic
- Grow your business online and offline – supply retail stores so that you can increase the value of your business
- This is perfect for those who plan to grow, build and sell their business.
Risks
- There are necessary risks like holding on to stock, giving 90-180 days of credit.
- Do you feel like you are ready to supply a retailer?
- It is just the buyer that you need convince.
- You have to be unique in your product and your offer
- Do your research and appeal to you buyer.
Tell A Story
- Tell your buyers who you are, why you are successful and why you will be successful with that particular retailer.
- Keep it very simple. Keep it short.
- If you can make a quick decision for them and show them that stocking your product will increase their margins.
- Each retailer has a different strategy.
- It is your job to FIT for the retailer, not the other way around.
- Do the buyers job for them, know what they are selling, what features are selling, give them an analysis and then give them why they should choose you.
- Photos: show them a photo of how your product will look like on the shelf, show them how it will look like on their store as well.
Make It Easy
- Do their job for them.
- Have a very good relationship with the decision maker because they rotate buyers all the time.
- Remove as much friction as possible from their decision making process.
- Push only what is right for them – something that will sell in their store. Don’t push on the wrong store, it will reflect badly for you.
Do Your Homework
- Some stores, when they find a product not selling, they will take your product, send it to a QC and tell the QC to find fault.
- When they do, they will send back all your stocks.
- Reverse engineer: Do your homework and get your product quality checked so that they do not find excuses to send back your product.
- Cover your basics.
- Prepare and be very focused.
- Make sure you have your costings right.
- Get a good license, get you products licensed.
- It gets you into meetings that only licensed suppliers get access to.
- Getting licensed gives you the fan base that goes along with it.
- It is a very big responsibility – your standard has to be aligned with the license.
- Create distribution and get insurance.
- You are liable for any issues that arise.
- Make sure your margin covers the cost of license.
- Know your finances, how much is the license percentage.
- Align with the best license that will give you enough margin – don;t apply for everything.
- Offer your licensors that will add profit to them – something unique, not another coffee mug product.
- NOTE: Licensing opens up new doors!
Product Usage
- Use your own product and test it yourself.
- Does it crack? How does it feel?
- Does it fit properly?
- You are your best critic, the highest standard.
- Develop better products.
Product Development Process
- Start with your passion – what are you interested in?
- Compare yourself with your competitors and what they are doing good and what are their opportunities that you can work on?
- What products make you happy?
- Are you solving a problem? Fix a problem.
- Identify your market leaders and make it better than them.
- Take the best of all worlds – and compare them with your product.
- TEST not only your product BUT their product – some products only look good and sound good but not that good.
- DO NOT OVER DEVELOP: don;t take too much time! Get it launched and sold. You can always improve your product on later versions.
- Find the best suppliers on China Magic!
- Marketing – leverage your best attribute.
- You need your 5-day product to give your 300-day product credibility.
Branding
- 90% sell and 10% brand – Gary V.
- Branding is long term and it is the future.
- Branding is what happens when you are not in the room – Jeff Bezos
- People can not copy the emotions your buyers get when unpacking your product.
- Branding creates community.
- Branding equals repeat buyers.
Connect with Kian Golzari:
Connect with Kian on Facebook | China Magic Trip
Connect with Danny: https://sellersessions.com/agency/
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- Facebook: https://www.facebook.com/richard.ren.50
- WeChat: richardzren
Connect with Danny: https://sellersessions.com/agency/
?SellerPoll is the annual awards for the Amazon seller community.
There are 9 categories to choose from. Including; Facebook Group, Outstanding Contribution, Software, Service Provider, Podcast, YouTube Channel, Events and more.
?SellerPoll is brought to you by PingPong. The no 1 for cross border payments…Vote now at https://sellersessions.com/sellerpoll/
?Want great cross border rates? Then visit our wonderful sponsors at
https://pingpongpayments.com/
