Soar to Success May 2022

Most people have enough materials at their home, or at a nearby craft store to quickly put together a prototype, while not investing a ton of money in the beginning.” Personal Life Jamie likes to spend time with her husband and their three grown children. Two of which help her create business videos used in her marketing. She enjoys exercising and likes to hike. She is a lifelong learner and, an avid theater goer and attends live productions. “My work is my hobby. I really enjoy what I do. It’s never really been work for me. It’s really my passion. Between kids, outdoor activities, and inventing, I’ve got a pretty full life.” my product. We only had 48 hours to come up with a new plan. For nearly two years, we moved all packaging and shipping to my house.” A second issue resulting from the pandemic is the rapidly rising cost of materials. A few suppliers were able to resist raising prices the first year, but with continued rising costs, especially in corrugated materials, Jamie’s suppliers were forced to increase their pricing. “The rising cost of materials and raising our pricing is a double-edged sword. It’s not easy for small manufacturers to pass on price increases. Higher pricing to the consumer could result in less sales. Every entrepreneur must find the equilibrium to maximize sales, while keeping profit margins where they need to be.” Jamie found a new shipping source and just recently began shipments from an outsourced warehouse once again. Advice to Inventors “People constantly come up with new ideas. Just because you think it’s a great idea, doesn’t mean the consumer will agree.” Jamie has found that market research is a must. Even searching Google for similar products can be a very enlightening exercise. She also has found that budding entrepreneurs want to rush to create a prototype. “A manufacturer will charge several thousand dollars to create the prototype.

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