People are interesting. They don’t always do what they say they will do, and thus understanding the mind of a consumer is difficult.
Based on feedback so far of the pet barrier, I do believe that I could sell quite a few of the product. My challenge is that they don’t want to pre-order the product through the crowd-funding campaign. Instead, they want to buy it now – not wait for it or invest in it.
Of course my challenge is the ability to pay for the moulds so that they can be made in the first place. Could I sell 1000 units to break-even if I invested the money up front? I think yes if I did home shows and expos, but really I need to get it into a major retailer to make any real money off of them. And to fulfill that order, I would once again need more cash.
So, I’m pushing forward on the digging product which requires less capital. I spoke to my manufacturer last week, and he’s only capable of injection moulding which is what my original design was based upon.
However, I’m considering the fact that many people have larger yards and probably don’t want to put down one 25cm of the “no dig” product at a time to cover their fence line or yard in general. For them, a different type of product design would be more suitable.
So, I have a chat scheduled with a different kind of manufacturer next week that does more garden product type manufacturing. The good thing about this product is that it can definitely be made with 100% recycled plastics including possibly soft-plastic rubbish too.
I’m trying to line up some focus group conversations now for the digging product. Understanding the mind of a consumer is critical so that I don’t lose a ton of money by making the wrong product. Gee, this would be so much easier if I could just read their minds and of course, have a bank account full of cash.