Fashion School Fashion School Miami Fashion Miami Fashion Course Adopt a Pre-Sell Strategy to Drive Interest in Your Project Before Seeking Investment Funding

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Adopt a Pre-Sell Strategy to Drive Interest in Your Project Before Seeking Investment Funding

Recently, I met a potential customer who introduced me to my consumer products.

A marketing and branding consulting firm outlining his projects, their development status and needs. The opportunity seemed to linger until it reached a central point of discussion where funding was central. I heard him touting the reasons and supporting data for the funding round he felt.

I took the “Devil’s Advocate” approach that any project faces when seeking investment from angels, investors, venture capital or partners. My question was the standard fare I’ve heard professional investment groups raise time and time again. As the cross-examination continued, the passionate and confident entrepreneur began to wither.

Clearly there was no response to the simplest question I asked, and one that has always been of greatest interest to investors: Do you have a purchase order? This very smart presenter never thought about the possibility of getting a positive answer to this question and the business he proposed.

Purchase orders from eligible customers, stores, distributors, and wholesalers demonstrate what we call “proof of product life.” Entrepreneurs are always excited about their products and services. They have a ton of documentation to include in their business plans to try to impress investors with the promises they offer. Orders and successful test markets, no matter how small, are worth much more.

How can an inventor, entrepreneur, or small business generate a sales order before receiving a suitable funding round? A prospect I met for the first time asked exactly this question. He then explained some bootstrapping and pre-selling strategies he hadn’t thought of.

Clients often use bootstrap presale plans. This is done without sacrificing inventory building. We have many vendors who work with us to create production-quality product prototypes, CAD art, release packets, POS displays, sales collateral, websites, attorneys, social media, video productions, and more. To create purchase orders from trade shows, EXPOs, showrooms, and online sales. These vendors know they can build long-term relationships with happy new clients once sales traction is achieved. They handcraft cartons and brochures for their displays and sign units at minimal cost willing to do

I recently attended a major trade fair in Hong Kong with a client to launch a new skin care regimen. We attended with four dozen production quality prototype samples fully decked out in our graphics package.Our display His vendor hand cut three of his POS displays. Booth display visuals, video loops, sales collateral, product folios and distributor agreements were created exclusively for the show. Product performance demonstrations were spectacular and the booth was flooded with interested Asian distributors. We have agreements with 9 companies for exclusive distribution rights for this line. Pre-sale works!

With these contracts and the initial purchase orders they generate, we are organizing international bank letters of credit to fund the initial full inventory build-up and provide working capital. Investors are now keen to scrutinize the opportunity, and the successful achievement of this kind of “proof of product life” has reduced their negotiating leverage.

Successful pre-sell campaigns in the US market may result in securing investments, but may also result in partnering, licensing, receivables or factoring options to fund operations and growth. We have used factoring for many years for our own business and our clients. Sales orders open the door.

Next month, I will be attending a jewelry trade show and a men’s fashion trade show showcasing client products launched using Bootstrap Pre-Sell campaigns. More promising entrepreneurs should take advantage of this strategy. The process for a successful funding round is very difficult for most startups. Meeting investors with a plump purchase order creates an entirely different leveling of the playing field. Take advantage of this cheap and simple strategy to launch your product.

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