We Say Goodbye to 3 Inventor-Entrepreneurs Featured This Year
In January 2009 we launched Spark, a yearlong hand-in-hand journey with three women inventor-entrepreneurs at different stages of their product-development cycles.
What started as an experiment turned into an immersive, voyeuristic learning lesson for all involved – for the three subjects, for those of us at the magazine, and, we trust, for readers.
While their three stories end with us – at least for the time being – we’re grateful and honored they allowed us an extended look behind the scenes.
Over the next three days we’ll feature their parting thoughts. First up:
Julie Austin, developer of the Swiggies wrist water bottle. She learned the hard way that four months is not enough time to place an order with a Chinese factory and expect on-time delivery. She nearly missed a crucial deadline getting Swiggies to Ireland in time for the big Dublin Marathon last year. Here’s what she had to say:
Thanks so much for this opportunity. It has been a great learning experience for me to have to actually put my progress down on paper and be held accountable for it.
Among the things I learned: Always have new products in the pipeline. Always have a back-up factory – you never know what could happen. And create demand for your product before approaching retailers.
The most challenging aspect of launching a business around my product has been having to market it with no money. It is possible, but very challenging. Also I have had to quickly drop things that weren’t working and invest the money in proven markets, like the promotional market.
The most fulfilling aspect has been creating new products, only this time I know what I’m doing, so I am able to do it more efficiently.
As for domestic production, I would love to have my products made in the United States, but I wouldn’t even break even. The cost to manufacture here is almost what I sell the product for at wholesale. Two of my new products are being made here in smaller amounts, but they are different types of products, not for the mass markets.
I knew 2009 would be a rough year, but I didn’t know just how rough it would get for retail. I would have been much more careful about spending money for things like big retail trade shows and advertising instead of spending the money slowly in more creative ways.
It’s hard to say what I would have done differently because I learned so much by just jumping in the trenches and doing it. I learned what worked and didn’t by trial and error. In fact, I turned what I learned into a book that is coming out soon. I only wish it had been around when I started. It would have saved me a world of heartache.
Location: Los Angeles, Calif.
Product: Swiggies – The Wrist Water Bottle
Web site: www.swiggies.com
Professsional Background: TV producer, TV/film distributor, publicist
