Entrepreneur

It can be. Being strong in both areas gives you the best chance at success. Being strong in either still gives you hope though with a lesser chance. Years ago I developed a simple product (phone accessory) that I had designed and manufactured overseas. Due to its simplicity, I didn’t seek IP protection on its components. The product I believed at the time was trending in its category and so I shipped several thousand pieces and had a run at organic sales. Eventually I determined that the product was not as strong as I initially anticipated due to continued market entrants. About a year later I saw my product in stores and kiosks, in the same packaging and designs, but under a different name. The manufacturer, who had greater distribution channels, just ran with my products and got a much wider consumer audience. Same product, different result. Strength of your distribution network can sometimes overcome a “meh” product. This is why it can be valuable to test the market with a product and develop distribution contacts, even if you fail. Then if you have the intestinal fortitude to try again, your follow-on products will have a better shot at success.