110 OEA Podcast – The One Mistake Most People Are Making When Private Labeling Products

Summary: Whats up Empire, Joshua Woodward here. Many of you listening are developing our own private label products, but there may be one major mistake in your strategy. When developing your private label products are you only looking at the #’s? Have you thought about a long term plan for your new product? Could you explain what problems your product solves for your customers? Are you buying into this product because of an algorithm given to you by amazon or an affiliated app? Many of us overlook one simple thing in developing our products; Does this product fit in with my brand identity. If you are selling online you have an brand identity and you may not even realize it. We talk allot about building something bigger than yourself. A wise man once said, “If you can accomplish your dreams on your own they aren't big enough.” Are you building a brand that can last longer than your lifetime or just a few random products under your amazon seller account? Im not at all opposed to having products that don’t exist within the same niche but my concern is we are building companies that will only last for seasons. Amazon is an amazing business and if you choose to run it as such you can reap some amazing rewards. My question to you is, does your overall brand identity fit this new product? This is the question we should be asking ourselves every time we step into that next product. For those of you just starting the question to you would be, Could you build a brand off of this product? And are you going to be passionate about what this product will do for the consumer? If you build a brand you can build a following. If you build a following you are not held down by the almighty hand of amazon. No shut downs, no restrictions, no limitations. Your brand name and the products under that name are owned by you. That is something people can get excited about. Today we have on the show Daryl Weber. He is a brand consultant whose work has influenced many of the best and biggest brands in the world, including Coca-Cola, Nike, Johnnie Walker, Gatorade, Pampers, and many more. If there is anyone qualified to talk with us about building a brand its this guy. Previously, he was Global Director of Creative Strategy at The Coca-Cola Company, where he oversaw brand and communication strategy for many of the company’s billion-dollar brands. Prior to that, he was a Strategic Director at the boutique brand and innovation consultancy Redscout, where he advised Fortune 500 companies on new product innovation and brand strategy. On top of all he is already doing he is also heading up these projects, Yala: a new kind of all-natural, coconut oil-based, whitening mouthwash called Yala. Look out for it in Spring 2016! BassBrites: He launched and manage a new kind of string cleaner for electric bass players that makes strings last many times longer. Palace Wolves: He is still living the dream, and play bass in the synth rock band the Palace Wolves. (actually pretty good) With his specialties being Brand strategy and positioning, innovation strategy and concept writing, communications planning, qualitative research, consumer insights abd moderating. His goal is to help you build deeper, richer brands through an understanding of the brain and the unconscious. If you would like to know more about Daryl go to, <a href="http://www.daryl-weber.com/about/">http://www.daryl-weber.com/about/</a> If you want to know more about us and all we are doing go to, <a href="http://www.theonlineempireacademy.com">http://www.theonlineempireacademy.com</a> Facebook: <a href="https://www.facebook.com/groups/EIDMastermind/">https://www.facebook.com/groups/EIDMastermind/</a> Youtube: <a href="https://www.youtube.com/channel/UCQJtNGg7PaK-fsdTDHUp5BQ">https://w...</a>

110 OEA Podcast – The One Mistake Most People Are Making When Private Labeling Products

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