Setting up a manufacturing facility is a major financial commitment and whether you intend to own and manage your manufacturing facility yourself or work with a third party to produce your products there are several things you can do to help make the process a lot less stressful than it needs to be.
In this three-part post we will look at nine tips to help you avoid the pitfalls in the transition from your idea to a product that’s ready for sale.
Whether you are looking for a manufacturer or setting up your own manufacturing unit, you need to do extensive research before you make a decision. Use trade journals and fairs as ways to research and connect with manufacturers.
Putting the right support network in place
When you start out you are so full of enthusiasm that you feel you can single-handedly take on the world. But at some point you are going to come unstuck and that’s when you need a helping hand. Don’t wait until it happens to look for support as you’ll have enough on your plate already.
Take baby steps
Setting up your own manufacturing unit takes a lot of time and money. You cannot afford mistakes. You can avoid risks in the initial stages by leasing or renting space and equipment instead of buying them immediately. Try and depend more on manual labour and low-investment tools in the first few months since the product will undergo several minute changes in that period.
Lookout for part 2 of our post where we look at three more tips to help you get your manufacturing facility off the ground effectively.
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Resource: Entrepreneur.com, Guardian.com