I have many contacts in the factory business( I have been collecting and connecting with those people for about 6months/ i worked for a company and i brought those contacts to the company). I am 25 female with background in Engineering and an MBA. What i want to be is to be the middleman between factories so its (B2B) right now I am focusing on two countries and i want to provide full support to both of them in marketing and selling I do have the location and language advantage in most caese. I have started like 2 weeks ago, still testing the water so far i had 6 factory owners contacting to ask for price quote but with no order request so far. ( one of the factories wanted me to give them info for free). I have been trying to start something like this for the past year. My last job was just to increase my experience in the field and get the confidence I need. In just 3 months I brought income to the factory i worked for in the six figures of US dollars. Am I making a foul of myself for jumping or i should just keep my head down and continue and see how it goes? Also I would appreciate it if someone can give some guidance I really need it!
Hey! If your passionate about the problem your looking to solve, why would you discontinue? Focus on improving your value and offer. Start with a simple tool like the Lean Canvas business Model so you can put your ideas on paper. This will allow you to test each segment of your business concept & validate your assumptions before spending a ton of money and time on opinions. Find existing alternatives to your markets problem, ones that work and ones that don’t. Study the top competitors and funnel hack their process. You can learn what Is working from them and personalize it to be unique. Don’t reinvent the wheel - just improve on the wheel.
What type of product you are marketing ?if u explain atleast some information i will help you for marketing and sales to launch in india.
I am on the sourcing agent side and have been for 13+ years. I am US based and find “tier 1” suppliers in China for customers in the US and Canada. This is B2B and generally called “Sourcing agent”. If I understand what you are trying to do, you are trying to find “tier 2”suppliers for those “Tier 1” suppliers? Perhaps raw materials or just any component that they don’t produce in house? That they then turn into finished goods to sell to their customers? This is also B2B, so I just want to make sure I understand what you are trying to do.
If I have that right, this is a very First Principle Thinking way of thinking. If you have ever heard Elon Musk talk about how he got the cost of a rocket so low, that’s how. I can say there is a lot of opportunity there. I myself find Tier 2 suppliers for my tier 1 suppliers all the time. Tier 1 suppliers are flat out bad at finding Tier 2 suppliers. The problem is that they don’t know it, or even strongly believe otherwise.
Luckely because I am also bringing the customer’s business to the Tier 1 supplier, the Tier 1 has no choice but to accept my tier 2 supplier whether I tell them who the tier 2 supplier is or not. And I can technically keep all of the savings for myself if I want. You working strictly between Tier 1 and Tier 2 will find you have to add a markup of some sort, but that competes with your actual value to the Tier 1 supplier. That makes it difficult for you to profit much while still bringing value. But doable.
Personally, my advice is to keep investigating and trying. But do not quite your job until you have proven your assumptions. Especially since you are young and haven’t been doing it long. I see too many people in this industry get in with little experience only to find out their experience was only applicable in their previous employer’s application, or whatever reason, things didn’t work like they thought it did. I hate seeing those people crash and burn.
We would need a little more information. Just saying you want to provide a B2B service between factories does not provide enough conceptual formulation to discern if there is an economic benefit you can provide- and for which you can charge.
I'd be willing to talk with you further, if you desire.
In any event, good luck!
- I live in an Industrial state that produces almost anything so I have that as an advantage plus the language.
- I am trying to supply factories with equipments and materials from other countries. I am trying to support developing countries factories (they are just starting and need raw materials and support)
- the 2 countries that I am trying to connect right now dont speak the same language so I can help the main supplier promote to the developing countries factories in social media and sales knowledge courses.
- I am alone in this so far, and I am still trying to figure out the whole process since I have been connecting with both sides and testing whats working and whats not, actually there is a lot to test since there are many potentials to this wether its for the supplier or the buyer But little time and just one person.
- about the marketplace idea, its kinda going to become like Alibaba but the pros about it is that i might be able to charge a premium maybe. Also it would be a great way to manage the customers once they become many hopefully.
- my problem is making money, I hav not made a single dollar yet and my prices are high since my suppliers are testing the water as well With what I am trying to do.
-the advantage: location, language, a good number of legit Factories that need suppliers, help reaching them quickly.
-the disadvantage: are the factories in need willing to pay me? Or they just want to reach the supplier directly. Also I am trying to start with as minimum money as possible until I see the credibility of it.
Its good to hear from your side, as we are also working on similar model in India.
For initial start, you need to capture your niche segment of industry & develop the contact both from supplier side as well as customer side.
Once your capture your segment, then working on the model will be more easier & the customer would be able to relate with you.
Try solving customer problem's & also imp is to bring in to their notice what benefits they would be getting from your side.
For more guidance you can let me know.
Why not create a marketplace for connecting the factories with businesses. the platform also provides the Inbetween. Samples are delivered. scheduling vendor management. And really just focus bring those factories to the USA.