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Frequently Asked Questions

Product Development CompanyHere are just a few of the most frequently asked questions we receive from clients.

Question: “I have an idea for a terrific product. Do I need a business plan?”
Answer: Absolutely. In the current market for capital, a clear, focused business plan is crucial. Investors will not spend a minute looking at a project until they see if it meets their specific criteria. A well-written business plan will do this.

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Question: “How can I gauge potential market interest in my product?”
Answer: There is no single magic formula. However, a good guide is the Rule of 4.
1. Does your product have a first to market advantage?
2. Is there a strong management in place?
3. What proprietary feature, or benefit, does your product offer?
4. Do the financials portray an exciting Return on Investment?

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Question: “What criteria do you use to rate clients, projects and chances for success?”
Answer: No two projects are the same. We are select in choosing clients. We always prefer to meet personally with a client to be sure we are right for each other. Turning down a client is preferable to accepting a project that has no chance for commercial success. Our income and reputation is enhanced by a successful product placement.

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Question: “I am an engineer by trade and I am uncomfortable in a sales situation. Can you assist in selling my product?”
Answer: “Yes, in several ways. We often make key account presentations for clients. Part of our service is creation of sales and promotional materials. In addition, we always attend the presentations for investment groups, joint ventures and licensing products. Also, we organize sales coverage through independent sales organizations and showrooms. A number of our clients have international sales being generated through distribution agreements we have organized.

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Question: “Why pay for a business plan, they are all over the Internet for $50?”
Answer: Simple answer, we have never seen a project funded off an inter-net business plan template. Bankers see hundreds of plans per year. If the plan is not exciting, creative, focused, it will not be read. Opening a business plan we can tell immediately if it is thoughtfully, professionally written, or a fill in the blank template. How a plan is constructed and written speaks volumes about an entrepreneur’s commitment.

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Question: “What is the most common error you see entrepreneur’s make?”
Answer: Pursuing capital too soon. The typical entrepreneur is fixated on funding and has minimized the importance of proper market research. Unless there is a rich uncle in the picture, the start-up will need help from outside sources of capital. This investment will only happen if the proper planning, strategy, projections and financials are in place. There are simply no shortcuts. Many great products never succeed, while often inferior products enjoy great success. A solid marketing plan is crucial.

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Question: “Do you have funding sources for my project or company expansion?”
Answer: We are selective, and careful, in analyzing the commercial potential of every client we work with. We only work with projects in which we have confidence of commercial success. Those projects will be presented to a network of sources, investment bankers, blind investment pools, angel and mezzanine firms and individuals with interest in the specific product or service being offered. The project will be professionally presented to serious groups and given the maximum opportunity to be successfully placed.

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Question: “Other than investment funding, what are my best options to expand?”
Answer: Many. In fact, most start-up or small growth companies instinctively seek funding as the best method for advancing their business without considering all options. Franchising, strategic alliance, joint ventures, international distributors, partnering, royalty, licensing are some of the options available for launching or expanding a business.

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Question: “How do I determine the best channel of distribution to sell my product?”
Answer: Competitive analysis, funding realities, supply chain, company infrastructure and product features and pricing are only a few of the factors considered in determining the proper sales channel for a product. The marketing strategy will be directed to maximizing sales and minimizing promotion. We will create a niche strategy specific to the unique features of your product while minimizing any negative features. For example, a product with great shipping weight probably would be of minimal interest to Direct Response Marketers. Our experience and relationships with major retailers, Direct Response Marketers, catalog’s and international distributors insures your product will be presented to the appropriate decision makers in the chosen sales channel.

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Question: "How can your business and marketing experience help launch my startup?".
Answer: We typically save the entrepreneur time and money by avoiding costly mistakes. We have been successful entrepreneurs for 25 years. Starting a business can seem daunting. We walk each step of the way with the client. Proper timelines, budgets and plans are the guideposts created for each project. Government regulations are reviewed, licenses, legal and accounting systems organized if needed. Before a client is introduced to investment sources, coaching and presentations are refined to perfection.

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