Getting to Market: A Reality Check

  • 159,000 new products launched worldwide in 2019
    • 29k personal care
    • 12k beauty
    • 80% will not last 2 years
    • Less than 1% will earn $1M
  • Launching a brand will cost at least twice as much as you think.
  • It will also take at least twice as long as you think.
  • Aspirations and emotions often trump functionality and technology.
  • Find/create the USP (Unique selling proposition). Can you clearly communicate this in 25 words or less?
  • Make sure there’s a hero product.
  • Select the distribution channel upfront, before anything else.
  • Surround yourself with a talented, experienced, committed, passionate team.
  • Brand your product maniacally. Be disciplined. Stay on message.
  • Keep the momentum going. There’s no time to waste.
  • Without a positive reason for success, failure is inevitable.
  • Keep your sense of humor. Enjoy the process……

Above all, remember: it’s not design, packaging, service, or even product that sells…. it’s Marketing.