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When it comes to selling physical products, you will gain massive amounts of value through getting your product placed on retailers shelves. In fact, for many small business owners, getting a distribution deal with a massive chain store is a dream.
But that is the problem: The companies know that, which means that their first offer will probably be a terrible deal for you, and could likely even put you out of business!
That is why today we’re talking about the right way to negotiate a deal with a large retailer, to get your product on their shelves without getting screwed in the process.
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Points to Keep In Mind
- When it comes to selling physical products, getting your foot in the door at retailers can be a massive advantage
- After you have your product, you need to get it out to influencers so that they will start talking about it and getting people excited about it
- When you do this well, people will start walking into stores, expecting to see your product, and will start asking about it
- At first, the stores won’t think anything of it, until 2-3 people per day are asking about it, and then they will start to dig into it
- At this point they will reach out to you, but they know that they have all the leverage at this point, so this is not the right time to make a deal with them
- As they come and ask, you need to find ways to say no nicely for about a year while you build online and evangelize your customers until they are raving fans of your product
- The whole point of all of this is to get to the point where you have power and can negotiate a contract that is fair
- You will only be able to negotiate a deal that is fair with retailers after you have had the self control to say no for long enough until they want your product badly enough that they are willing to come to good terms with you
- In negotiating, you need to be the flame not the moth, meaning you need people to chase you, not the other way around
- If you want to meet someone at a networking event, the best impression you can make is if you know someone who knows the person, and can tell them that they “have to meet you” for whatever reason
- For some reason, astrology will go a long way with women
- In marketing, you should always consider that people love themselves the most, so anything that reflects themselves back to them will be well-loved
- When what you say vibes with what people already think, it will be well received