Product for Profit: How To Sell Your Product - Book Review
For anyone interested in getting their products to major retailers, an easy to read, short book may be just what you need.
Product for Profit: How to Sell Your Product, Invention or Craft to Major Retailers ... No Sales Experience or Existing Buyer Relationships Required! is a step by step guide on how to get your invention onto the shelves of major retailers.
Karen Waksman, the author of Product for Profit, is also a manufacturer's representative, a speaker, a teacher and a consultant. She has more than a decade of experience in selling a range of products to major retailers. Waksman wrote this book because she has been so successful in getting her products (and her client's products) on the shelves of major retailers that she wanted to share her strategies with people interested in accomplishing the same goal.
After years of trial and error of trying to get retailers to buy her products, Waksman extrapolated a formula of the factors that consistently lead to a positive result. Product for Profit sets forth a five step formula to getting your product onto the shelves of retailers. Fortunately, the book states that you don't need prior sales experience or an existing relationship with a buyer at a retailer in order to get your product onto the retailer's shelves. Furthermore, the formula remains the same regardless of what the product is that you are selling. So, whether you are selling fashion accessories, toys or electronics, the steps are the same.
Product for Profit provides answers to questions that you can normally get only from years of experience. It gives you an unique insight into the buyer's world. In addition to the five step formula, Waksman provides a valuable explanation of the key players in the decision making process and how the decision is made. Also, Waksman ends the book with a chapter on what to expect when a retailer places an order for your product, including what to expect with respect to certain terms of the contract and some possible pitfalls to avoid. Each chapter is as valuable as the next.
Even with Waksman step by step guide, the reader needs to keep in mind that getting a product into a retailer is a complicated task. You need to expend a lot of time and energy in completing each step. There are also many decisions you must make on your own that will impact whether or not you are successful. Throughout the book, Waksman tries to facilitate the process by providing resources that can assist you. One of the biggest hurdles inventors face is figuring out how to get your product manufactured. Waksman provides you resources for where you can begin that journey. However, you ultimately are responsible for completing each step.
One final note I would like to make is that Product for Profit will not help everyone who has an idea for a product. The book is geared toward the person who has the finances to develop their own product. Further, it won't be much help to the person who has a good idea but does not want to be actively involved in seeing their product to market (i.e., a person in interested in simply licensing their idea).
Although Product for Profit is not a extensive overview of the the whole invention process, and the book is quite short, it really is a wonderful resource for someone who is ready to try to sell their product to retailers. In summary, Product for Profit provides a five step guide to getting your product into retailers, explains the players and the process in the decision making, informs you as to what to expect when you get the retailers to buy your product, and also gives you resources to assist you in accomplishing each step.
Waksman informed us that the purchase price of her book, Product for Profit, also includes (1) contact information of the top 350 major retailers, (2) access to an interview with manufacturing expert Ashton Udall, (3) five steps set out by packaging expert JoAnn Hines (aka the Packaging Diva) on how to get started packaging your product and (4) a recorded Webinar with additional information and frequently asked questions from Waksman's Product for Profit classes. (The reason why I don't give an opinion on the other information provided is because I haven't reviewed any information other than the book.)
"Product for Profit: How to Sell Your Product, Invention or Craft to Major Retailers ... No Sales Experience or Existing Buyer Relationships Required!" is only available in an e-book and can be purchased online at productforprofit.com.
Although the book is not for everyone, for those trying to sell their products to major retailers, this book will be very helpful.
Note: The writer and/or the site may have received free samples or some other type of remuneration or benefit for trying out, reviewing, recommending or writing about the items covered in this article.