Watch the episode on YouTube here.

Summary:

In this conversation, Scott Putnam interviews Ben Aldridge, who shares his insights on the challenges faced by inventors and entrepreneurs. Ben discusses the importance of community support, recognizing blind spots, and avoiding common pitfalls when launching a product. He emphasizes the significance of financial management, data-driven decision-making, and the need for a solid intellectual property strategy. Ben also provides practical advice on finding manufacturing partners and streamlining the product development process. In this conversation, Scott Putnam and Ben Aldridge explore the intricacies of manufacturing partnerships, fulfillment strategies, personal productivity, and customer service for entrepreneurs. They discuss the importance of vetting manufacturers, the decision-making process for fulfillment options, maximizing personal productivity through effective time management, and establishing customer service policies that enhance customer retention. The dialogue emphasizes the value of consulting and collaboration in navigating the challenges of bringing products to market.

Key Takeaways:

• Don’t go it alone; find your tribe.
• Be aware of your blind spots and seek help.
• Don’t try to reinvent the wheel; learn from others.
• Keep track of your finances and create budgets.
• Make decisions based on data, not emotions.
• Create templates for product development processes.
• Get a minimal viable product out quickly.
• Engage with a good team for IP protection.
• Understand your buying power when negotiating.
• You only get one chance to make a first impression.
• Start conversations with manufacturers to vet them effectively.
• Utilize third-party inspectors to ensure quality and compliance.
• Consider the value of your time when deciding on fulfillment methods.
• 3PLs can help manage capacity during peak demand periods.
• Know your worth and delegate tasks that don’t require your expertise.
• Establish customer service policies before launching products.
• Store credit can be a cost-effective way to handle returns.
• Personal productivity tools can help prioritize tasks effectively.
• Consultants can provide valuable insights and avoid common pitfalls.
• Building relationships with manufacturers is crucial for long-term success.

Learn about our guest, Ben Aldridge:

Ben Aldridge has spent the past 10+ years working with emerging consumer goods brand founders on all things operations. His specialty is in setting up repeatable, streamlined processes and systems to help small businesses run more efficiently, as well as finding opportunities for cost savings. With Renée Rouleau Skincare, he tripled the warehouse team’s pick/pack/ship capacity – without adding headcount. With Dame Products, he saved over 50% on cost of goods – by sourcing and vetting alternate manufacturers in China. Ben is now hanging his shingle as a consultant, working fractionally with founders as they launch their businesses. Sourcing manufacturers and packaging, setting up businesses entities and systems has been a window into the world of entrepreneurship. Ben enjoys working as a #2 to help guide founders on their journey to scaling their business. In his free time, Ben plays saxophone and writes music for the Armadillo Swing Band – he lives in Austin, TX with his partner and their labrador retriever.

Connect with Ben here:

• LinkedIn
• Website

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Get started on your own product ideas today with our free guides:

IE Scorecard: Is Your Idea Ready?

5 Common Mistakes Inventors Make and How to Avoid Them

5 Steps You Can Take Right Now to Help Get Your Product to Market