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Product Development — How To Find And Scale A Winning Product
In the Megaphone studio with Max and Evan, this episode dives into the processes and priorities we should consider when thinking about product development, whether it's your first or fifth product to market.
After witnessing hundreds of Megaphone clients source new products (the good and the bad), and then developing his own 7-figure e-com brand with Silvi, Max is teeming with wisdom in this space. Today, he shares this wisdom and experience, shedding light on how to not only find a winning product but how to scale it too...
With plenty of gold to unpack, here's what to expect:
* Product validation: How can you tell that your idea is a good one WITHOUT committing to thousands of dollars worth of inventory?
* Finding areas of excitement, demand, and trending topics
* How to cleverly source and manufacture products
* Consideration of COGS (Cost of Goods Sold)
* Capitalising on community: using VIP FB groups and forums as focus groups
* The balance between vision alignment VS adapting to unforeseen customer demand
* Brand Vs performance — what's more important?
Mentioned tools, software and resources:
- Import Yeti (reverse-searches manufactures based on product)
- Headless Shopify
- Books: "Billion Dollar Brand Club" - Lawrence Ingrassia; Six Pillars of Self Esteem - Nathaniel Branden; Fountainhead - Ayn Rand
- Podcasts: Noah Kagan, Masters of Scale, Finding Founders, Ecommerce Playbook, 2X E-commerce Podcast, Sugatan, Built To Scale
We hope you enjoy the conversation! Want to join the discussion? Join our Facebook Community: MegaMinds (E-commerce growth community). We'd love to chat with you! You can also message Max and Evan on LinkedIn!
Thinking about getting some advice on how to scale your business? Get in touch with Megaphone for a free strategy session.
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By Evan Bryce Riddle
5
33 ratings
In the Megaphone studio with Max and Evan, this episode dives into the processes and priorities we should consider when thinking about product development, whether it's your first or fifth product to market.
After witnessing hundreds of Megaphone clients source new products (the good and the bad), and then developing his own 7-figure e-com brand with Silvi, Max is teeming with wisdom in this space. Today, he shares this wisdom and experience, shedding light on how to not only find a winning product but how to scale it too...
With plenty of gold to unpack, here's what to expect:
* Product validation: How can you tell that your idea is a good one WITHOUT committing to thousands of dollars worth of inventory?
* Finding areas of excitement, demand, and trending topics
* How to cleverly source and manufacture products
* Consideration of COGS (Cost of Goods Sold)
* Capitalising on community: using VIP FB groups and forums as focus groups
* The balance between vision alignment VS adapting to unforeseen customer demand
* Brand Vs performance — what's more important?
Mentioned tools, software and resources:
- Import Yeti (reverse-searches manufactures based on product)
- Headless Shopify
- Books: "Billion Dollar Brand Club" - Lawrence Ingrassia; Six Pillars of Self Esteem - Nathaniel Branden; Fountainhead - Ayn Rand
- Podcasts: Noah Kagan, Masters of Scale, Finding Founders, Ecommerce Playbook, 2X E-commerce Podcast, Sugatan, Built To Scale
We hope you enjoy the conversation! Want to join the discussion? Join our Facebook Community: MegaMinds (E-commerce growth community). We'd love to chat with you! You can also message Max and Evan on LinkedIn!
Thinking about getting some advice on how to scale your business? Get in touch with Megaphone for a free strategy session.