Retailers Forum Magazine July 2020 EMAG

forumworkshop
FORUM WORKSHOP
We live in a world economy to a great extent.
Keep that in
mind when you are
deciding what business
to start. While
Marieʼs Hand-dipped
chocolate is less expensive
than most
imported chocolate,
lots of products and
services can be manufacturers oversees for
less. So if you think you have a wonderful idea
because no one else in your town is doing it,
look again. Maybe lots of others were doing it
and went out of business because of foreign
competition. Or, if they were smart, they did the
“research” you should do (or learn from) and
determined that they could not compete with
foreign-made goods, and never started at all.
How about those one-of-a-kind ideas like the
pet rock, Cabbage Patch dolls, and Frisbees? If
you come up with one of those, youʼll just have
to believe in yourself and the willingness of the
American public to spend money on frivolous,
fun, or unique ideas. Do it first, do it fast,
make your million; and when imports start
to resemble your product, move on to the
next brilliant idea. Of the above, Frisbees are
the only one that has lasted over time. The others
were fads. People can get rich off of fads.
But the person who markets, distributes, and
promotes will make the money – not necessarily
the person who did the inventing. What good
does a pet rock do you if you only sell it to people
in your own town? You have to get it in
every gift shop in the land, all at once, and advertise
it. Just look at the track record.
continued..
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Page 56 JULY 2020 | RETAILERS FORUM MAGAZINE