Hey there!
Welcome back to Seek + Source Summer Camp! I hope you’ve been enjoying Seek + Source Summer Camp so far. This week, we’re going to dive into something that often goes ignored but is incredibly important: the mental hurdles of sourcing and manufacturing. Here’s the thing, rarely do we talk about how hard something is in business. Let’s stop that together. This is the perfect campfire conversation if you ask me! AND I have a special surprise below!!!
Week 6: Addressing the Mental Hurdles of Sourcing
Sourcing a new product can be a thrilling journey, but it also comes with its fair share of mental challenges. Have you ever felt overwhelmed by the idea of spending money on sourcing and manufacturing? Maybe you’re struggling to find reliable suppliers or worried about making costly mistakes? Trust me, I’ve been there.
Here are a few common hurdles we all face and some tips to help you push through:
- Finding Reliable Suppliers: Not sure how to find trustworthy manufacturers? It can be tough, especially when you’re trying to communicate and negotiate terms. My advice? Do thorough research and don’t hesitate to ask for references. Clear, concise communication is key, even if it means using translation tools or asking the question over and over again.
- High Costs and Minimum Order Quantities (MOQs): Does the thought of high MOQs make you cringe? Financial risk is real, and balancing quality with cost-effectiveness is challenging. Remember, investing in your business is necessary for growth. Start with what you can afford and negotiate where possible. I often find factories with low MOQs… this is possible!
- Lack of Guidance and Support: Feeling lost without step-by-step guidance? You’re not alone. Finding reliable resources, mentors, or courses can provide the support you need. It all depends on the camp counselor, am I right?
- Fear of Making Mistakes: Worried about making costly errors? Mistakes are part of the journey. They’re opportunities to learn and grow. Build a support system of fellow product makers who can offer advice and reassurance.
Normalizing these conversations is so important. We all face the same fears when we start something new. Stick with me, stay on the trail, we can conquer these together!