Latest / Pitch to Product / Why "Easy" Product Launches Can Cost You $300,000+ In Mistakes
Transcript
- Peter: I get a lot of flack. From people who I will actually use the word arrogant. I think that there's a lot of arrogance that comes into this play where they think they have it all done. And maybe I'm too respectful to say that you really don't. Your baby's ugly. I think you're gonna go down the wrong path. And again, this is my rant. So if you don't like it, switch to the channel, go somewhere else. But if you want to listen, I'm gonna teach you the most important thing. Hey, I'm Peter Draklich. As always, you guys are fantastic. This is another episode of Pitch to Product Podcast. some people have now called this Peter's rant. Pretty good. I'd say this is a business conversation that I promised you I would have. Look at every business owner, which is what you're about to become. If you have a product idea, you're not an inventor, you're not an entrepreneur, you're about to start a business. the easiest one is the e-commerce business. There's plenty of people that are running little side hustles out of their garage or out of their basement and they're selling a lot of product online. It's it's open to everybody. The challenges that you have is that you know, those people are buying something that someone already has made or manufactured, and that's really not our forte. Our forte is the original design of a product. That's what we manufacture. And I get a lot of flack. From people who I will actually use the word arrogant. I think that there's a lot of arrogance that comes into this play where they think they have it all done. And maybe I'm too respectful to say that you really don't. Your baby's ugly. I think you're gonna go down the wrong path. And again, this is my rant. So if you don't like it, switch to the channel, go somewhere else. But if you want to listen, I'm gonna teach you the most important thing. Have an open mind because I am not charging anybody as the term I was told this week an obscene amount of money, do something. That they don't agree with or don't find valuable. And I wouldn't, I would tell you automatically, don't do it then. But why don't you ask the questions why I think that that is wrong? That's a free conversation that I'm still willing to have with you, where your off basis is going to be this. If this was a simple one, two, three process, you are going to get a one, two, three result. And when it's wrong, you've got to go back and start step five, six, and seven. When you do that wrong several times, you're probably Over the $200,000, $300,000 mark in mistakes. And that is an obscene amount of money. When you take an organized approach, and to do that, the very first question you have is, Will this sell? And can we make it? And is there margin to turn this into a business? There's your three questions. Then the question is: what is the smallest amount of money that I can spend in the entire process to succeed? That is not obscene. That is not an invalid question. That is the question you should be asking because that is a business mentality. If you think there's a shortcut, I will tell you the optimism of a business owner of starting a business or starting a a a quick venture. you know, in the same breath, you can ask them, is there anything that you've done that got rich quick? No. Is there anything that you did not earn the hardest way possible? The answer is yes. Why would you think that there's an easy way to start a product? Like it's not. If anything was a one, two, three process step, then I wouldn't be here. We I'd be owning every product I can imagine tomorrow because one, two, three sounds easy to me. when it's too easy or too good to be true, what does that mean? It means it's not. I can be accused of saying we sound too good to be true, but only after you failed at other places. So my conversations with everybody is at the level of I have seen. 30 to 40,000 people's ideas in the last 15 years. My numbers all work backwards. Most of those people that I've talked to are in a position where they've spent too much money and failed in other places. And I know where they failed. I know why they can't go forward. I know where there's good ideas that went to die because of bad processes, over optimism, wrong wrong people that were hired, an inconsistent team. Again, to do this well, you need everybody on one seat. Growing the oars in the same direction with a coach telling them to go faster, slower, turn left, turn right, and a team of people that can deliver the end result. And if that sounds easy, and if it sounds one, two, three, come into my office. The the chaos to do that with 60 people, 65 people on my team with 10 years of knowledge, 30 years of manufacturing, the network of manufacturers, the design teams that have built products. The 750 products that we've launched. if any of that sounds easy to you, I encourage you, go and do it. I will tell you that when you fail at it, I'll still be here for you. And I'm trying, really trying hard to prevent you from making mistakes because I am not trying to sell you a product. If I was, I would tell you, let's just talk about the manufacturing. If I was, I would tell you, hey, just hire me for branding. If I was just trying to sell you a service, I would tell you the little parts that everyone else is telling you. What I am telling you is that I fill in all the gaps where those mistakes happen by doing things in an individually unorganized manner. And more so, I am adding mentorship, I'm adding leadership, I'm adding experience, and I'm not even charging you for that because really what my motivation is is to help you launch a successful brand and product. And we have a minimum quantity order of roughly about $1,000. The business conversation should be you should probably make five to 10,000 of these units. And when you get to that part, where do we both make money? I want to be your manufacturer. Do you think I'm waking up in the morning for, you know, three dollars on my part that's saving you 50% of any other manufacturer and adding a three dollar margin to it so that I can make a living and be your assistant? You don't have to hire employees, you don't have to do that. But three dollars times a thousand, you tell me who wakes up for that kind of money at 5,000 units. Do you think I'm waking up for that kind of money? No. Where we're making money together and where we're symbiontic is we need to get to 10, 50, 100,000. That is when we are scaling your business. You're making the line share. And I get to be your symbiont non-contractual partner to deliver the services that you need every day to be successful in your product business venture. So that is a very long-winded rant, but it is actually exactly what we do. It's the motivation of what we do every day. But we're not aligned to sell you anything. I'm aligned to be a partner with you to help you make your money so that I can be your manufacturer. And if that doesn't fit for you, hey, look at it. I can give you a list. In fact, we're probably gonna put it on our website, a list of companies that you can go and fail at so I can help you out when that's done. Appreciate your time trying to prevent you from making mistakes. Talk to us, it's free. Hiring us, it's a very tight scope of work so we can succeed at your product but bin business venture.