You most likely have some privately labeled products in your home. There are many companies in Canada and the United States who sell “stock” or “standard” formulas of products to many different companies. The only differences between these and dozens of other companies are the product names and labels.
Marketing expert, Dan Kennedy, describes a distribution scenario for a fabulous weed killer. The manufacturer sold thousands of cans of this product to a chemical company that distributed only to restaurants and hotels. The same manufacturer sold many more thousands of the same product to a national hardware chain under a different name. And finally, Dan’s company sold this same product with its own label.
Same product. Three companies. Three different labels.You can have all kinds of products manufactured and sold under your name in surprisingly small quantities.
Every industry has these private label manufacturers and they advertise very extensively in trade journals for their industry, and they attend many of the trade shows. Some of these manufacturers even supply product liability insurance that will cover your tiny home business.
For example, one pet food owner has created a glucosamine supplement for dogs. (In case you’re wondering, as I was, it’s good for joints.) It has been so successful that she is planning to expand with seven new privately labeled products. The grocery and health industries have been doing this for years with their generic products.
No matter which strategy you choose, you need an action plan to make your time most productive and to achieve the results you want. For example, here’s an on-target plan of action…
Day 1 -- go to the library and look at the “Standard Rate and Data.” Make a list of every magazine and trade journal that relates to your category.Day 2 -- write a simple letter/e-mail contacting each source and asking for a copy of its publication.
Day 3 -- while waiting for magazines and journals, create a data chart that you can use to list each interesting product, its source, actions you can take, results and whatever other information that is relevant to your subject.
Day 4 -- create a folder for different kinds of ideas. For example, a folder for interesting products, one for experts you might interview for information product ideas, one for books or other information you might want to send away for to do research, one for names of companies that do private labeling, etc.
Day 5 (and on) -- as your publications arrive, go through and highlight each interesting product, person or merchandise possibility.Day 6 (and on) -- write letters, call or e-mail about all the ideas, companies and people you have identified as worthwhile in the publications reviewed on Day 5.
Repeat Days 5 and 6 tasks until you find lucrative ideas that you can use to sell on the auction sites. By doing this, you will develop successful items that aren’t being sold by 50 other people. Uniqueness is the goal.
Time to move on to a profitable type of auction business where you sell merchandise that you have never even seen and where you don’t have to invest a penny of your own money.
I thought that might tweak some curiosity
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