{"id":11608,"date":"2021-08-10T07:00:48","date_gmt":"2021-08-10T12:00:48","guid":{"rendered":"https:\/\/henekawatkisporter.com\/?p=11608"},"modified":"2024-08-17T07:10:52","modified_gmt":"2024-08-17T12:10:52","slug":"launching-a-product-in-a-competitive-market-with-no-prior-experience","status":"publish","type":"post","link":"https:\/\/henekawatkisporter.com\/launching-a-product-in-a-competitive-market-with-no-prior-experience\/","title":{"rendered":"Launching A Product In  A Competitive Market With No Prior Experience"},"content":{"rendered":"\n<iframe frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm\/?e=MPNL5678841354\" width=\"100%\"><\/iframe>\n\n\n\n\n<p><span style=\"font-weight: 400;\">Today&#8217;s episode is with Lucas Walker, a serial entrepreneur who has started three successful businesses in the software, e-commerce, and media spaces, working on bootstrapped and venture-funded companies. He has reviewed more than 10,000 eCommerce stores as a part of his work over the past couple of years and, today we will discuss &#8216;Launching a Product in a Competitive Market with No Prior Experience.&#8217;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><b>Here are three reasons why you should listen to the full episode:&nbsp;<\/b><\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li><span style=\"font-weight: 400;\">Learn about the key things to consider when launching a new product.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Learn about some of the costs to consider when starting or launching a business.\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Learn about a checklist of things needed to successfully launch a business in the &#8216;new normal.&#8217;\u00a0<\/span><\/li>\n<\/ol>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><b>Episode Highlights<\/b><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><b>What is the difference between a product and a service launch?&nbsp;<\/b><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400;\">When launching a service, business owners must focus on grabbing the attention of their potential clients. When launching a product, business owners must focus on making sales and tap into other markets.\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">It is also vital that <a href=\"https:\/\/henekawatkisporter.com\/how-do-you-know-you-are-an-entrepreneur-10-definite-traits-to-have\/\">when a business is launching<\/a> a service it accounts for the cost to offer the service and ask questions such as &#8216;who will it cater to?\u2019 &#8216;How will it make your profit?\u2019 As for a product, it&#8217;s key to knowing how much needs to be produced and how much time it will take.\u00a0<\/span><\/li>\n<\/ul>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><b>Costs to Consider when Starting up:<\/b><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400;\">The Software<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">A Legal team for potential Lawsuits or other Law related matters<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Taxes<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Revenue and its turnover time\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Contingencies\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Customer care\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Time &#8211; How much of my time will it cost me to carry out a given task.\u00a0<\/span><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><b>What is the Sales Process like?&nbsp;&nbsp;<\/b><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400;\">It is essential to build a relationship with potential buyers\/distributors for at least 6-8 months before they begin to sell your products.<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Work with your buyers and do not be afraid to ask for help so they can give you advice about the marketplace and what would ensure that you have a successful launch.\u00a0<\/span><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><b>The Entrepreneurial Checklist for Launching a Product in the \u201cNew Normal\u201d&nbsp;<\/b><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400;\">Audience Collection &#8211; Start thinking about your potential clients or customers and reaching out via email or SMS;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Create a low-cost (not free) Landing page or website &#8211; Use this platform to build customer engagement and collect relevant data and feedback from your customers.\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Find the appropriate channel for business &#8211; Find a supplier for your product that has existing dominance in that industry space.\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Post Launch &#8211; Find out what your customers like or didn&#8217;t like and be very upfront about what you are working on and the changes you plan to make.\u00a0<\/span><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><b>Who do you need on your team?&nbsp;<\/b><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400;\">When launching a new product or service a few team members are vital to ensure all goes well, these include;&nbsp;<\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400;\">Strong Writer &#8211; A business requires a lot of communication. It is good to have someone with excellent communication skills both for internal and external matters.\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Sales Representative\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400;\">Marketing Personnel\u00a0<\/span><\/li>\n<\/ul>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Other positions can be filled with Freelancers from platforms such as Upwork or Fiverr&nbsp;<\/span><\/p>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><b>3 Powerful Quotes from This Episode<\/b><\/h2>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">\u201cDon&#8217;t be impatient.\u201d<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">\u201cBe ready to move quickly.\u201d<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">\u201cDon&#8217;t be afraid to go out and ask for help from people who have done it.&#8221;<\/span><\/p>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><b>About Lucas Walker&nbsp;<\/b><\/h2>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Lucas Walker is a serial entrepreneur. He has started three successful businesses in the software, e-commerce, and media spaces. He has worked on bootstrapped and venture-funded companies. Some of his accomplishments include launching the first Canadian University Twitter account for the Acadia Athletics department in 2009. He Co-founded Venngage in 2012, which was recognized as the leading infographic maker, and named Top 25 Startups in Canada by LinkedIn in 2019. In 2014 he Launched TreatsHappen.com, a website selling natural dog treats sold into TJX, Amazon, independent, and Big Box retail. In 2017 he began advising on marketing and e-commerce, launching the number 1 B2B sales podcast. He Joined Gorgias, the number one helpdesk for eCommerce in 2019, and brought on the largest client before shifting to the marketing team. Lucas has been featured in The Globe and Mail, Mashable, Financial Post, Shopify Masters, Brand Creators (#1 Amazon Seller podcast), Hubspot among many others.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Have specific questions? You can reach out and follow&nbsp; Lucas on <\/span><a href=\"https:\/\/www.linkedin.com\/in\/walkerlucas\/\"><span style=\"font-weight: 400;\">LinkedIn<\/span><\/a><span style=\"font-weight: 400;\">, and <\/span><a href=\"https:\/\/twitter.com\/WalkerLucas\"><span style=\"font-weight: 400;\">Twitter.<\/span><\/a><span style=\"font-weight: 400;\">&nbsp;<\/span><\/p>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><b>Enjoy this Podcast?<\/b><\/h2>\n\n\n\n<p><span style=\"font-weight: 400;\">If you enjoyed today&#8217;s episode of The Entrepreneurial You, hit subscribe and share it with your friends!<\/span><\/p>\n\n\n\n<p><b>Post a review and share it!<\/b><span style=\"font-weight: 400;\"> Also if you enjoyed tuning into this podcast, then do not hesitate to write a review. You can also share this with your family and friends, and colleagues, so they can feel empowered and encouraged to pursue their business.<\/span><\/p>\n\n\n\n<p><b>Have any questions?<\/b><span style=\"font-weight: 400;\"> You can contact me through email (<\/span><span style=\"font-weight: 400;\">henekawatkisporter@gmail.com<\/span><span style=\"font-weight: 400;\">) or find me on<\/span> <a href=\"https:\/\/www.facebook.com\/henekawatkisporter\/\"><span style=\"font-weight: 400;\">Facebook<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/twitter.com\/TheEntrepYou\"><span style=\"font-weight: 400;\">Twitter<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.instagram.com\/heneka_watkis_porter\/\"><span style=\"font-weight: 400;\">Instagram<\/span><\/a><span style=\"font-weight: 400;\">, and <\/span><a href=\"https:\/\/www.linkedin.com\/in\/henekawatkisporter\/\"><span style=\"font-weight: 400;\">LinkedIn<\/span><\/a><span style=\"font-weight: 400;\">. Thanks for listening!<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">For more updates and episodes, visit my<\/span> <a href=\"https:\/\/henekawatkisporter.com\/\"><span style=\"font-weight: 400;\">website<\/span><\/a><span style=\"font-weight: 400;\">. You may also tune in on<\/span> <a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/the-entrepreneurial-you\/id1219606421\"><span style=\"font-weight: 400;\">Apple Podcasts<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/podcasts.google.com\/feed\/aHR0cHM6Ly9oZW5la2F3YXRraXNwb3J0ZXIuY29tL2luZGV4LnBocC9mZWVkL3BvZGNhc3QvP2xhbmc9aHk?sa=X&amp;ved=0CAMQ4aUDahcKEwjA8JXI8tbtAhUAAAAAHQAAAAAQAg\"><span style=\"font-weight: 400;\">Google Podcasts<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.stitcher.com\/show\/the-entrepreneurial-you\"><span style=\"font-weight: 400;\">Stitcher<\/span><\/a><span style=\"font-weight: 400;\">, and <\/span><a href=\"https:\/\/open.spotify.com\/show\/49cGqY7I7hxhjrJo7ui636\"><span style=\"font-weight: 400;\">Spotify<\/span><\/a><span style=\"font-weight: 400;\">.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Grab your FREE Guide: <\/span><a href=\"https:\/\/teygiveaways.s3.amazonaws.com\/AP_EASE_TheEntrepreneurialYou_Ebook.pdf\"><span style=\"font-weight: 400;\">How to use &#8211; and benefit from &#8211; Ease Magnesium, the super supplement for everyone.<\/span><\/a><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Stay inspired,<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">Heneka<\/span><\/p>\n\n\n\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today&#8217;s episode is with Lucas Walker, a serial entrepreneur who has started three successful businesses in the software, e-commerce, and media spaces, working on bootstrapped and venture-funded companies. He has reviewed more than 10,000 eCommerce stores as a part of his work over the past couple of years and, today we will discuss &#8216;Launching a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11590,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[734,248,737],"class_list":["post-11608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-podcast","tag-business-launch","tag-product-launch","tag-service-launch"],"_links":{"self":[{"href":"https:\/\/henekawatkisporter.com\/wp-json\/wp\/v2\/posts\/11608","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/henekawatkisporter.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/henekawatkisporter.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/henekawatkisporter.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/henekawatkisporter.com\/wp-json\/wp\/v2\/comments?post=11608"}],"version-history":[{"count":0,"href":"https:\/\/henekawatkisporter.com\/wp-json\/wp\/v2\/posts\/11608\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/henekawatkisporter.com\/wp-json\/wp\/v2\/media\/11590"}],"wp:attachment":[{"href":"https:\/\/henekawatkisporter.com\/wp-json\/wp\/v2\/media?parent=11608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/henekawatkisporter.com\/wp-json\/wp\/v2\/categories?post=11608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/henekawatkisporter.com\/wp-json\/wp\/v2\/tags?post=11608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}