Are you weighed down by the time and stress of making a product? In this episode, Henrik Johanson, the CEO of Gembah, shares what has changed in product development and what elements people should take into account to get it to markets properly. He provides great advice for people who are trying to develop a new product and points out why it's important to have a clear vision and work with factories that can create the product according to their vision. Henrik and Meny disclose some of the trends they are seeing in the marketplace, the current state of product innovation, the shift towards manufacturing overseas, and much more. Listen and enjoy!

Henrik not only co-founded and leads Gembah, but he is a former CEO and co-founder of several venture startups, most recently Boundless, a $100M promotional products company and platform. When he isn't focusing on building Gembah, you can find him trail running or eating Mexican food.

Key Highlights:

[00:01 - 05:56] Democratizing Product Innovation

• Henrik shares his background and work

• How he came up with the idea of creating Gembah, a company that democratizes product innovation

• What has changed about product development

• How entrepreneurs can create products that have a real impact on the world

[05:57 - 17:13] Bring the Right Product to Market

• Why Amazon sellers need to be aware of the changing product development landscape

• Meny's experience learning more about the country's supply chain and factory systems

• The reason why so many products fail in their journey from conception to sale

• How Gembah helps you find the right designer for your product

• How to validate an idea for a business before starting it

[17:14 - 28:50] When It's Time to Sell Your Amazon E-Commerce Business

• The key to success in the Amazon and e-commerce aggregated space

• Developing a defensible product line that can be sold to the same customer over time

• Henrik's outlook on developing new products vs tweaking existing ones

• Where is the level of creativity of entrepreneurs?

• The current state of product innovation, and why it takes more money to innovate on Amazon now

[28:51 - 34:08] Wrapping Up!

• People are trying to innovate in smaller ways, rather than developing new products altogether

• Henrik on the rapid four questions

Connect with Henrik:

Gembah (Website)

Henrik Johansson (LinkedIn)

Key Quotes:

"People recognize they have to create something different, but you don't start with something unproven that you don't know how big of a market there is." - Henrik Johansson

"Creating a brand new product is definitely higher risk, but higher reward. If you succeed, then you have a bigger greenfield opportunity." - Henrik Johansson

Visit Let's Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

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