Advice from consumer product entrepreneurs on getting products on shelves and creating demand...

Tonight we learned from consumer product entrepreneurs who overcame challenges of getting products on shelves and creating demand online. An excellent event per the Bunker Brews monthly meetups where the Bunker Labs community come together to network with subject matter experts in environment focused on growth and development. The B2C world is tough, but these leaders who run successful product businesses are TOUGHER! We enjoyed some great wisdom from the panelists including: Rob Campbell- best-selling author of "It's Personal, Not Personnel: Leadership Lessons from the Battlefield and the Boardroom.", Philip Freeman- founder of coworking space The Loading Dock Raleigh and Murphy's Naturals, and Jessica Harris- founder of K9 Salute. Here is some advice offered up by the panelists:

• Be part of a community like the Loading Dock and network like Bunker Labs. We all need the energy and intelligence from others to help move forward. Look into communities for good support system and utilize the resources they offer.
• "Embrace the suck" or another way of saying it, "Embrace the pain point". The key is to utilize the pain for creating new pain relieving solutions. Pain leads to new ideas and innovative solutions. Embrace it.
• You must persevere! Stay with it. No one will come knocking on your door. Keep pushing on, be proactive, and be patient. Don't quit. Keep the positive attitude and hopeful outlook going strong.
• Select people who work for you very carefully. Make sure they fit in with the mission and values of your company. Hiring family members can be ok to achieving that "good culture fit" aim so be open to that.
• Find a mentor and coach to support your growth. It is ok to pay for experts to help you in areas you are less experienced in to execute your offering correctly.
• Try to stand out in what you do. Be unique and have a special niche in the marketplace. Have differentiation with a unique value proposition. Then focus, focus, focus. Don't try to be all things to all people. Pick a beachhead and conquer it well.
• Research, research, and research before you spend a lot on development to ensure you build the right thing. Experiment and test to find out what works. Do field studies and utilize family and friends to get great firsthand honest feedback and experience.
• Key points to working with Amazon. Make product prime eligible by allowing Amazon to fulfill. Protect your price point to keep your MSRP solid to have a healthy retail and etail sales channel. Register your brand with Amazon so you can protect your brand and promote it well.
• Start at the top of retail pyramid with high quality partners that have the right quality customers that match your products. Don't try to go to big to soon. For example, if you sell an all natural organic product start with Amazon select, Whole Foods, Wegmans, and then work your way to bigger retailers that may fit your brand and mission like Target.
• Communicate "Minimum Advertised Price" and enforce MAP to ensure no violation of MAP by any partners.
• Attend trade-shows and conferences to get in front of buyers and consumers. Be visible. For example, if you have an all natural product it's worthy to attend the Natural Products East & West conference.
• Be mindful of the "Pot Committed" mentality. You don't have to go "all in" with your bet if you recognize things are not working. Be mindful of your reserves. Have the mentality to fish or cut bait. Ask people and survey to help you discern if you should keep fishing or cut bait. Trust your gut and then if needed, stop your losses. It's ok to change course. Be nimble, keep adjusting, and pivot if needed to change course and better hit the bullseye of your aims.

Special thanks to Bunker Labs for hosting an excellent event per Nick Bradford and Dean Bundschu leadership, Marjorie K. Eastman for moderating and the wonderful panelists who shared great advice: Rob Campbell, Philip Freeman, and Jessica Harris!
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Enjoy this quick "TechandWisdom TV" video interview with CEO Phillip Freeman from Murphey's Naturals sharing great advice.

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