Considerations When Mapping Out Your Guru Product Blueprints ...

Mapping out your own guru product blueprint has its rewards but also has its risks. There is always a possibility things might not work out well. In the same way running a business also has its rewards and risks, especially with the current instability of our economy. Any new business has a good chance of either making a million or floundering during the first month. Are you prepared for the possibilities when you embark on a new business selling your product?

The good news is that you dont have to venture into new territory unprepared. Here are a few things to consider before you create your own guru product blueprints.

1. Do you have the resources to mass produce your product?
Mass production often calls for a large injection of capital. Check your cash before you start the mass production. You might not have enough for the other parts of the business, like marketing and operations. If you find yourself short on the necessary cash, you can take out a loan from the bank or you can hold your production for a few months until you earn enough money to inject into the business. Another remedy would be to look for cheaper materials or downgrade the features of your product so you can save on some costs.

2. Where and how will you sell it?
This is the pertinent question to ask after making your own product. The most common answer is of course your own store, whether online or brick-and-mortar. Online stores are gaining a steady stream of customers due to its ease of access. But others can use consignment, which is basically having a third-party store carry your products as part of their merchandise. One can also sell at home while operating on an order basis so there is no need for mass production.

You must also look into payment options and methods. Are you willing to accept credit cards as payments, or would you opt for a cash-only basis? This part needs special consideration if you are selling online, whether through your own store or on social networking sites.

3. What possible concerns might customers have regarding your product?
Customer service is an integral part of running a business. Addressing customer concerns and taking care of their demands is one way of ensuring that they carry home with them a good impression of your business. So it would be prudent to prepare for possible customer concerns early on. Are there particular features in your product that might cause confusion? Are there parts of the product that are difficult to operate or use? Answering these questions beforehand would make you less likely to panic when a customer calls.

Product creation and business can prove rewarding in the long run. You get to be the boss and call the shots. You earn from doing what you love. Plus you get to share your created product with the rest of the world. Remember though that the rewards are coupled with risks, so know what you are getting into before you jump in. Go for it, but be careful.

Source: http://www.scorechapter275.org/?p=293

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