Powerful Partners
Why do it yourself when you can have someone else market your invention?
By Don Debelak •
Opinions expressed by Entrepreneur contributors are their own.
When the time comes for inventors to sell new products, theyfrequently head down the same, predictable path: targeting smallmarkets and getting small footholds. Eventually, expanding theirsales network becomes a top priority-and that calls for selling tobig retailers. Small businesses face some marked disadvantageshere: they only have one product, and they aren't big enough toguarantee delivery.
How can inventors get around this problem? By private-labelingtheir products. In this arrangement, inventors market theirproducts under another company's name. Inventors benefitbecause their products are supported by the marketing power of anestablished company. Private-label partners benefit because therelationship broadens their product line, which enhances theircompetitiveness.
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