Ok!
Two weeks ago I was inspired by the health supplement business that 1step started, and I started to look into some ideas of my own.
I had been toying around with some ingredients of my own, and came up with a number of solid ideas for a cognitive enhancer that I plan to target creative/productive minded people with - people that want to get ahead, study longer, be more focused etc.
Anyway, long story short, I emailed a few Canadian manufacturers with my ingredients. Turns out, Canadian laws are pretty tough! To sell a product on a store shelf you actually need a Natural Health Number - issued by the gov't after they do clinical trials to make sure it does what you're claiming - can take up to 6 months, and some of my ingredients aren't available over the counter here!
To make matters worse (better for consumers, worse for producers) after December 1st all products need a NHN if they are being sold legally in Canada. If you want to sell a supplement, it needs to be licensed. Doh!
Some manufacturers offered their private label, already licensed concoctions, but everyone didn't have something that was powerful enough to make a good product. So, I kind of gave up on the dream/started looking into other avenues like protein powders/weight loss supplements etc. Until last night I had a flash of brilliance... and a true fastlane approach that should positively affect my commandments of CENTS (re-reading TMF , love it more second time around), still involving health supplements.
I've pre-screened my potential corporate name with Industry Canada, that's a go. I've started to develop a branding/marketing approach, looked into advertising avenues, and contacted a bunch of manufacturers north and south of the border - I have a bunch of great private label options because of that, and I'm pretty confident in a manufacturer in particular.
I have looked into a number of options, and I think I'm on to something. What really pushed me over the edge the last 24 hours were the following:
Reading Bransons quote" Screw it, let's do it" - gotta get going it I want to make something
Great conversation with a US manufacturer and subsequent emails throughout today
New approach I formed last night which led to midnight emails and getting something done.
What is on my To-Do List?
1. Meet with accountant 9AM tomorrow to hash out details/cover some biz basics/taxes etc.,
2. Once that's ok, incorporate biz
3. Decide on fulfilment avenue for orders
4. Complete logo for label
5. Set up landing pages/presell product? - Can be shipped within days so that's good
6. Set up Adwords, Facebook Ads to direct traffic
7. Order first batch, ship to possible fulfilment center
8. Get banking set up, particularly with US account
9. Obtain stock photos
10. Push the name/marketing approach as much as possible
11. Set pricing, money back guarantees
I'm exhausted, but I'm soo ready for this. I'm ready to max out credit cards to make this happen (shouldn't have to go that far, but I realize that I need to spend money to make money). Certainly this is the biggest risk I've ever taken,but I'm 100% committed. This is going to be a GREAT couple of months!
Two weeks ago I was inspired by the health supplement business that 1step started, and I started to look into some ideas of my own.
I had been toying around with some ingredients of my own, and came up with a number of solid ideas for a cognitive enhancer that I plan to target creative/productive minded people with - people that want to get ahead, study longer, be more focused etc.
Anyway, long story short, I emailed a few Canadian manufacturers with my ingredients. Turns out, Canadian laws are pretty tough! To sell a product on a store shelf you actually need a Natural Health Number - issued by the gov't after they do clinical trials to make sure it does what you're claiming - can take up to 6 months, and some of my ingredients aren't available over the counter here!
To make matters worse (better for consumers, worse for producers) after December 1st all products need a NHN if they are being sold legally in Canada. If you want to sell a supplement, it needs to be licensed. Doh!
Some manufacturers offered their private label, already licensed concoctions, but everyone didn't have something that was powerful enough to make a good product. So, I kind of gave up on the dream/started looking into other avenues like protein powders/weight loss supplements etc. Until last night I had a flash of brilliance... and a true fastlane approach that should positively affect my commandments of CENTS (re-reading TMF , love it more second time around), still involving health supplements.
I've pre-screened my potential corporate name with Industry Canada, that's a go. I've started to develop a branding/marketing approach, looked into advertising avenues, and contacted a bunch of manufacturers north and south of the border - I have a bunch of great private label options because of that, and I'm pretty confident in a manufacturer in particular.
I have looked into a number of options, and I think I'm on to something. What really pushed me over the edge the last 24 hours were the following:
Reading Bransons quote" Screw it, let's do it" - gotta get going it I want to make something
Great conversation with a US manufacturer and subsequent emails throughout today
New approach I formed last night which led to midnight emails and getting something done.
What is on my To-Do List?
1. Meet with accountant 9AM tomorrow to hash out details/cover some biz basics/taxes etc.,
2. Once that's ok, incorporate biz
3. Decide on fulfilment avenue for orders
4. Complete logo for label
5. Set up landing pages/presell product? - Can be shipped within days so that's good
6. Set up Adwords, Facebook Ads to direct traffic
7. Order first batch, ship to possible fulfilment center
8. Get banking set up, particularly with US account
9. Obtain stock photos
10. Push the name/marketing approach as much as possible
11. Set pricing, money back guarantees
I'm exhausted, but I'm soo ready for this. I'm ready to max out credit cards to make this happen (shouldn't have to go that far, but I realize that I need to spend money to make money). Certainly this is the biggest risk I've ever taken,but I'm 100% committed. This is going to be a GREAT couple of months!
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