Tracy Hazzard is the CEO of Hazz Design and Mentors 2 Inventors. Hazz Design is a company that helps people launch their products to the market by taking them through the step by step process from start to finish. In this episode she takes us through her journey on how she got into inventing and product development, steps on how to take a product to market, and top tips for people who are trying to launch a product or start a business. Tracy gives us great insight on the process that she goes through with her clients and when and why you should get a patent for your idea or product.
- What is your story, how did you get involved with inventing and product development?
- What does the process look like when fringement occurs on a patent?
- What process do you go through with clients to launch their product?
- How do you decide what client to take on? To see if they will succeed or not?
- How do you come up with fair market price?
- How does your factory sourcing process ensure both fair prices and high quality materials?
- Do you get a provisional patent on products/ideas right away?
- What are your thoughts on crowdfunding?
- What are main mistakes people make when trying to launch a product?
- What are your thoughts on selling on Amazon?
- What are your top tips for any young entrepreneur?
- What is a great book to suggest?
Key Topics Discussed:
- Story on Tracy’s career with product development
- How to launch a product
- Step by Step Process
- Company vs. Licence
- Pros and Cons to crowdfunding
- Top Tips for a young entrepreneur
Main Aspects to Consider when a Launching Product:
- Right level of product
- Equals target market
- Design and engineering
- Find and design in category
- Outsource to different countries
- Have someone who is knowledgeable in this area
- CFO (Chief Financial Officer
- Deal with numbers, predictions, and analysis
- Quality assurance
- Watching factory manufacturing
Tracy Hazzard tells each entrepreneur the tip on hiring resources to help you plan, design, and launch your product or idea. You can never be successful without a deliberate team!
Check out Tracy’s Inc. column here – Inc. Column: By Design.
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