Duquesa Marketing

www.duquesamarketing.com

Press Release

For Immediate Release

Contact: Geoff Ficke

859-567-1609
gficke@msn.com

Geoff Ficke to Be Interviewed on WEGP 1390 AM Radio It’s Your Life Show on June 11th, at 11:00 AM ET

Duquesa Marketing Founder and Expert to Discuss the Most Useful Technique for Funding a Business Startup is Bootstrapping

Florence, KY  Nancy Ficke, General Manager, announced today that her Branding and Product Development firm Duquesa Marketing has scheduled another in a series of national radio interviews for Company President and Founder Geoff Ficke.

“Geoff Ficke will appear on WEGP 1390 AM radio It’s Your Life Show with Host Tami Kilcollins June 11th at 11:00 AM Eastern time”, said Mrs Ficke. “The discussion will be about the opportunity for entrepreneurs, inventors or small businesses to Bootstrap their new enterprises”.

“We work with hundreds of inventors, small and micro-businesses and entrepreneurs every year”, said Nancy Ficke. For many of these aspiring business owners their primary concern is the funding requirements they believe will be required to enable execution of a proper launch. Many assume they need to raise funding from angel investors, venture capital or banking sources. Very few will succeed by taking this path. There are many options but the simplest, and oldest is the concept of “Bootstrapping”.

Duquesa Marketing has assisted numerous individuals and enterprises start and expand Consumer Product opportunities over the past four decades. The award winning firm has vast experience in all Sales and distribution channels in the United States and internationally.

by: Geoff Ficke

Consider the Menu of Services a Project Will Require Before Interviewing Professional Consultants

Google the word “Consultant” and millions of links immediately pop on to your computer screen. Refine the search term and a smaller, but still massive army of sites will become available for search. Consultants are everywhere and offering every imaginable service.

How does a business or entrepreneur in need of acquiring professional skills go about winnowing down and selecting the right team for their specific need? I am asked this question often while performing my work as a Consumer Product Development and Marketing Consultant. There seem to be two key elements to consider when making this calculation.

The first is to consider what skills you, or your group, possess in the area in which you desire assistance. If you are an excellent writer, and are seeking to build a web-site, preparing the copy and visual layout for the site might be work you could handle by yourself. In that case, the need for a web-master for construction and a site manager to control your PPC and SEO
campaign may be the totality of the help you need.

More detailed projects require different and more comprehensive skill sets. Does your team have the ability to create a Business Model, a Business Plan and execute each work element required to successfully push a product or service into the marketplace? Unless the answer to this question is a hard “yes” you should be interviewing Managing Consultants.

The second important consideration is to assemble a menu of services the project will require. Do the consultants you are interviewing have the capability to manage the whole project, or are they going to specialize in their area of expertise and hand off important work elements to others.

We work internationally, with large multi-national companies, and increasingly with entrepreneurs, inventors and small and micro-businesses. Large clients typically hire our firm for a specific piece of project work. Smaller clients tend to want us to act as Managing Consultants. Many people have successful businesses and careers, family responsibilities and, for
course, mortgages. They often want and need to stay with their chosen work.

A Managing Consultant should be able to take a project from idea or concept stage, to market launch. The capacity to manage product development, prototype and product design work, source manufacturing, organize fulfillment and logistics, create customized Marketing Strategies, handle Public Relations, produce creative elements, packaging design, develop funding possibilities, and Sales Models are only a few of the work product elements that successful Managing Consultants should be able to provide to their clients.

The Managing Consultant’s job is to provide their client with the best options for each item on the work product menu. We typically provide these options and then detail why, if this were our business, we would choose option No. 2 over options No. 1 and 3. We work for the client and all final decisions are made by them.

A good consultant should save clients Time, Money and Mistakes. Experience, professional contacts, a long rolodex and instinct are what separate the really successful consultants from the out of work, down sized corporate manager that has real experience only in structured environments. In the current economy, the market is chock full of this type of consultant. Performing proper due diligence when selecting Consulting help will make or break your projects chance for achieving success.

Duquesa Marketing

www.duquesamarketing.com

Press Release

For Immediate Release

Contact: Geoff Ficke

859-567-1609
gficke@msn.com

Geoff Ficke to Be Interviewed on KSKE 1450 AM The Business For Breakfast Show on May 8 at 8:30 MT

Duquesa Marketing Founder and Expert to Discuss Personality Traits to Success as well as The Best Jobs for Your Future – Creating Your Own

Florence, KY  Nancy Ficke, General Manager, announced today that her Branding and Product Development firm Duquesa Marketing has scheduled another in a series of national radio interviews for Company President and Founder Geoff Ficke in the Buena Vista, CO market.

“Geoff Ficke will appear on The Business For Breakfast Show with Hosts Marc Mandel, Harriet Fox and Roger Cridlebaugh May 8th at 8:30 am MT”, said Mrs Ficke. “The discussion will be about the best jobs for your future – creating your own. There are opportunitities to take hold of your life and career options by exploring Entrepreneurial opportunities that people find around themselves in their hobbies, homes or jobs”.  They will also be discussing certain personality traits within each person that will determine their success.

“We work with hundreds of inventors, small and micro-businesses and entrepreneurs every year”, said Alexis Bruning, V.P. of New Business Development at Duquesa Marketing. “Many of these people carve out successful enterprises by capitalizing on things they experience in their environment. This is a topic that Geoff is passionate about and is always happy to share with an audience”.

Duquesa Marketing has assisted numerous individuals and enterprises start and expand Consumer Product opportunities over the past four decades. The award winning firm has vast experience in all Sales and distribution channels in the United States and internationally.

by: Geoff Ficke

Sourcing and Defining Volume Pricing Is an Absolute Must for Aspiring Consumer Product Entrepreneurs

I have been mentoring a young female entrepreneur for several months. She is not a client of my Consumer Product Branding and Marketing Consulting firm. This earnest lady has a very interesting concept in the Infant and Juvenile product space. Like so many aspiring first time business owners she is confused about how to best organize her enterprise and move from a hobby project to a fully commercial model.

As we discuss her projects status she states that her cost of goods is too high. This is because she is producing in very low volumes and utilizing domestic manufacturing sources. The test marketing and focus groups she has conducted are thus flawed. In order to gain proper due diligence from which to construct an accurate Sales Model, entrepreneurs must be able to ascertain an absolutely tight Cost of Goods.

Short run, hobby business-like volumes represent a distortion of the Sales Model. Unless the entrepreneur wishes to operate a low volume artisanal business it is vitally important to find the best sources of supply and manufacturing and to develop the accurate cost of mass production in hand with the chosen supplier.

We ask our sources of supply for dead-net Cost of Goods pricing for production runs that would approximate mass market distribution models. Dead-net Cost of Goods includes the total amount charged to fully assemble and package an item, plus international freight, customs, duties (if any) and local freight to a Fulfillment center.

The young lady I am mentoring has made the very common mistake of utilizing the much higher Cost of Goods she is currently absorbing based on low volume production and trying to force her Infant travel accessory items to market at a price point that is not viable. Test markets are only useful if the data received is based on solid Marketing fundamentals. Most test markets are not conducted with a goal of making profit. They are laboratories to learn about consumer acceptance, pricing objections, Branding effectiveness, etc. Test marketing saves time, money and mistakes when a product is finally launched after alterations to Marketing Strategies are made.

Take a simple component such as a 12 ounce plastic food bottle. The purchase of a stock Boston Round bottle in quantities of one hundred for testing might be $.25. In purchase volumes of 25,000 the price may drop to $.15 per unit. This type of differential, when applied to every component listed on a Consumer Product’s Bill of Materials will reflect a huge pricing differential. This has a massive effect on the ultimate optimal retail price that consumers will pay for the product.

One of the reasons usually stated for not obtaining a mass production Cost of Goods is a lack of knowledge. The entrepreneur does not know of specific factories or sources of supplies. The internet, social media and business directories today make this work so much easier than when I started my first business 36 years ago. The information and networks exist that actually make this process straightforward today.

Unless pricing for a full channel of distribution is not gleaned none of the assumptions that are used to create a business model will hold up. Sales projections, Business Plan elements, procuring investment from Venture capital sources,  Marketing Strategies and many more enterprise building blocks will crumble. Take the time and expend the energy to diligently uncover the most accurate Cost of Goods for your products.

by: Geoff Ficke

A “Wanna Be” Entrepreneur in Reality Is a “Wantrepreneur” and Will Never Be Successful

Very few of the hundreds of Consumer Product projects that my Branding and Marketing Consulting firm review each year ever go much beyond the talking stage. Talk is cheap. Deamers dream. Successful entrepreneurs are relatively rare. The necessary makeup to compete in the marketplace of ideas and products is in fairly short supply.

The best descriptive I can use to describe the dreamer that will never launch is the portmanteau “wantrepreneur”. This is the word we use to define the eternal grazer. They hope, wish and want to be successful but will not take the absolutely necessary steps required to get into the game. This pseudo-entrepreneur wants a lot of things, variously including…

• Wants a Business Plan
• Wants Design Engineering
• Wants Prototyping
• Wants Branding Development
• Wants Legal Counsel
• Wants Patents and Trademarks
• Wants Marketing Strategy Customized
• Wants Market Research
• Wants Focus Groups
• Wants Licensing Opportunities
• Wants Web-site Design
• Wants Social Media Management
• Wants Sales Representation
• Wants a Public Relations Campaign
• Wants Manufacturing Organized
• Wants Fulfillment Systems Organized
• Wants Investment, Funding
• Want all of this and often much more!

The reality is that the aspiring entrepreneur has two options available to achieve the above work elements that are but a partial list of the items that must be present in order to achieve a Consumer Product or Consumer Service launch.

1.   Hire vendors that can successfully perform in their area of specialization.

2.   Do it yourself.

I started my first business in 1978. I did it myself. I was a self-taught entrepreneur who, once having figured things out, realized that I could repeat the process again and again. I did this for a series of ventures that I launched. It can be done. I and many others are proof that with enough drive, ambition and confidence in themselves and their ideas success is a real option. Option #2 is not a chimera but it is not easy.

Option #1 is the route that most prospective entrepreneurs are forced to take. The skills that must be mastered can seem daunting to a novice. The list is long, much longer than detailed above. Successful entrepreneurs always find the means to raise the monies needed to hire professional help in areas that they do not have mastery of.

“Wantrapreneur’s” always attempt to acquire talent and expertise with promises, futures, equity and histrionics. The approach they take always follows an obvious lineup of talking points. Their Toy or Board Game is the next Monopoly or Bratz Doll. Their Wellness Supplement will revolutionize the Joint Pain market. The Pet Product they have developed to comfort arthritic dogs will sell hundreds of thousands of units. The Juvenile Jewelry line they have conceptualized will be on every little girl’s wish list. The list goes on endlessly.

The “wantrapreneur” always wants vendors to partner. I always ask what a person does for work. When I am told, “Salesman, truck driver, insurance adjuster, bank analyst”, etc., I respond with another simple question: “Do you work for free”? Qualified engineers and graphic artists and consultants are paid for their work, their experience, their Rolodex. Proven professionals actually save entrepreneurs time, money and mistakes.

How an aspiring entrepreneur approached funding sources and professional vendors is crucial. We rarely see this introductory process handled properly by novice entrepreneurs.  Do your due diligence. Do not attempt to sell dreams. My dreams are almost certainly not your dreams.

The process of starting a business or launching a Consumer Product is arduous. There is a reason for this. If it was easy everyone would be doing it and they are most certainly not. The difficulties inherent in getting a product off the ground act to cull the marketplace and serves as a type of Merchandising Darwinism. Merchants, distributors, investors, venture capital, strategic alliances and partners all seek out projects that survive the development process and are representative of the old saw “survival of the fittest”. “Wantrepreneurs” do not need apply.

by: Geoff Ficke

The Most Useful Funding Technique for Funding a Business Startup Is the Oldest: Bootstrapping

My Consumer Product Development and Marketing Consulting firm is approached almost daily by entrepreneurs seeking to launch a new enterprise. For many of these aspiring business owners their primary concern is the funding requirements they believe will be required to enable execution of a proper launch. Many assume they need to raise funding from angel investors, venture capital or banking sources. Very few will succeed by taking this path.

Capital is extremely selective in placing highly prized investments in untried startup businesses, run by anything less than experienced entrepreneurs. It rarely happens. The expectations of professional investment sources is simply too difficult for most novices to be able to satisfy steep requirements for Return on Investment,  Use of Funds, Professional Management Teams or First Mover Advantage.

When we explain to first time seekers of capital the complexities and difficulties that they will face in successfully securing a funding round, we almost always are confronted by resignation. The inevitable query we hear is, “Well, how do you get started”? There are many options but the simplest, and oldest is the concept of “bootstrapping”.

Bootstrapping is simply self-funding. Some of the greatest successes in the history of business were self-funded by Bootstrapping. The most famous is MicroSoft, followed closely by Hewlett Packard. Leslie Wexner launched The Limited in Columbus, OH in the 1960’s by bootstrapping a single dress shop in a strip mall. Estee Lauder created the world’s most successful Cosmetic brand at her kitchen table in the Bronx. King Gillette did much the same in the 1890’s when he launched his eponymous shaving brand. There are hundreds of publicly traded companies around the world that were nurtured to life initially by bootstrapping.

The beauty of not accepting, or seeking an equity investment partner is obvious: There is no partner to share ownership and the necessity to hit performance marks required to obtain funding is eliminated.

True, bootstrapping can hinder the rapidity of growth. But the process of bootstrapping demands discipline and enforces controls on spending that become part of the DNA of the firm as growth occurs. Expenditures are weighed and considered before very dear capital is committed.

The three Magi were bootstrapping incense merchants. Every pioneering farmer or blacksmith was initially a bootstrapping business person. Your insurance agent, realtor, most salesmen, lawyers, shop owners or artisans are bootstrapping for their income. To the extent that capital is required to open a restaurant, coffee shop, day spa, sales agency, franchise a business or set up a landscaping firm the funding required to be able to bootstrap these opportunities comes from friends, family or personal savings.

The Venture Capital community has a well-known phrase to describe the source of seed funding: “Startup monies come from Friends, Family and Fools”. Money flows easily to new, novel business concepts, but only after there is a confirmation of a proof of concept and sales traction is demonstrated.

Bootstrapping is not glamorous. It requires total commitment and focus. Fancy offices, fresh cut flowers in the reception area, expense account lunches and leased luxury automobiles are not line budget expense items for bootstrapping Companies. Credit cards may need to be tapped. Home equity utilized. Aunt Jane approached for a loan. If the entrepreneur is driven, there is nothing that will deny them the opportunity to convert their concept in to a going concern. Bootstrapping is the simplest, oldest, and in most instances, the only strategy available to start a new business.

Duquesa Marketing

www.duquesamarketing.com

Press Release

For Immediate Release

Contact: Geoff Ficke
859-567-1609

gficke@msn.com

Geoff Ficke to Be Interviewed on The Morning Show with Host Jae Nash on May 9th at 11:15 am CT

Duquesa Marketing Founder and Expert to Discuss 5 Personality Traits to Success

Florence, KY  Nancy Ficke, General Manager, announced today that her Branding and Product Development firm Duquesa Marketing has scheduled another in a series of national radio interviews for Company President and Founder Geoff Ficke.

“Geoff Ficke will appear on The Morning Show with Host Jae Nash May 9th at 11:15 am CT”, said Mrs Ficke. “The discussion will be about the 5 Personality Traits to Success. Mr. Ficke will explain if your idea or business is a good one and if you have what it takes to succeed. Do you have a product idea but just aren’t sure where to start? Is your business ready to move to the next level, but you don’t have the connections to make that happen? Geoff Ficke has been helping hundreds of people make their business dreams come true.

Through his 40 years of practical experience Geoff has been mentoring, teaching and consulting with small and micro-businesses, entrepreneurs and inventors to enable them to turn dreams and ideas into products and successful commercial opportunities. Geoff and his team have worked with products from skin care to cupcakes to health supplements and more.

Duquesa Marketing has assisted numerous individuals and enterprises start and expand Consumer Product opportunities over the past four decades. The award winning firm
has vast experience in all Sales and distribution channels in the United States and internationally.

Geoff Ficke Discusses Five Personality Traits to Success!

See if Your Idea makes the cut…

Do you have a product idea but just aren’t sure where to start?  Is your business ready to move to the next level, but you don’t have the connections to make that happen? Geoff Ficke has been helping hundreds of people make their business dreams come true!

Through his 40 years of practical experience Geoff has been  mentoring, teaching and consulting with small and micro-businesses, entrepreneurs and inventors to enable them to turn dreams and ideas into products and successful commercial opportunities. Some of his Consumer Product Clients include some of the world’s most recognized companies.  He’s worked with products from skin care to cupcakes to health supplements and more. And he’ll share his wisdom with your listeners!

Phones will light up about with listeners calling in with their questions on this hot topic!

Let Geoff Ficke answer their questions about how to get their business idea to market

Suggested Show Topics for Geoff Ficke:

• How to get funding for your business idea
• What makes a product or business idea successful
• How to get your product or business idea to market

Questions for Geoff Ficke:

1.   Is now the best time to start a new business?

2.   How do I find funding?

3.   Do I really need a business plan?

4.   Where do I go to get a prototype of my product made?

5.   Can I sell or license my business idea?

6.   Should I go to one of those invention services advertised on television?

7.   Where can I find manufacturers for my product?

8.   Do I have to patent my idea? How much does that cost and what do I do?

9.   What 5 personal traits are essential for achieving entrepreneurial success?

10. Can I bootstrap my way to success?

11. Tell us some of your success stories.

12. I’m ready! How do I get a hold of you to help me make my business idea happen?!

Geoff Ficke and his consulting firm, Duquesa Marketing,  (www.duquesamarketing.com) has assisted businesses large and small, domestic and international, entrepreneurs, inventors,  students in new product development, capital formation, licensing, marketing, sales and business plans and successful implementation of his customized strategies. He is a Senior Fellow at the Page Center for Entrepreneurial Studies, Business School, Miami University, Oxford, Ohio.

Contact Alexis Bruning to schedule an interview with Geoff Ficke at 513-602-9040.

by: Geoff Ficke

Consumer Product Marketing Success Depends Much More on Being First and Executing than Simply Being First

Recently I had the opportunity to review a new beverage concept submitted for consideration by an entrepreneur. This young chap had collected reams of information, concrete data on his drink’s wellness benefits, packaging renderings and marketing trend information on the mass market soft drink category. His due diligence was impressive and seemed indicative of a driven, passionate innovator.

My staff came away from the meeting impressed on every level. We had spent several hours advising on the various options and strategies that could possibly be utilized to fully  commercialize the drink. The beverage was in concept form, so a turn-key product development menu of work elements needed to be detailed. The entrepreneur taped the meeting and took copious notes as we essentially provided him with an oral business model and a rudimentary business plan.

Before the initial meeting we had not seen or been appraised the content of the proposed beverages unique selling proposition. Once unveiled, we immediately searched the internet to discover competitors. We found only one direct competitor.

In a category as wide and deep as drinks, to find but one direct competitor in a space is unusual. The normal rule for seizing and commercializing a Unique Selling Proposition is that we look for an identifiable niche in a broad category. Even though the concept we were reviewing had an existing competitive brand, we could easily customize a strategy to potentially command this niche.

As we reviewed the competitive brand we had discovered, one thing became immediately apparent; the owner of the existing drink had gotten to market first, but had not executed any type of strategy that was leading to sales success. Our Consumer Product Development and Marketing Consulting firm uses a proprietary system to analyze the commercial
viability of concepts and small and micro-brands. When we applied these key measurements to the extant beverage brand we saw error after error in marketing execution working to the detriment of the product.

The information we had gathered convinced us that our prospective client had an excellent opportunity to seize the space if he executed a disciplined, customized Marketing and Branding strategy. Every year new waters, soft drink, energy, teas, coffees, juices and wellness drink brands are launched and find varying levels of success. Though the category would seem to be saturated, the actuality is that there are always new entrants and stores are always seeking the next new and fresh thing. The missing element for those that fail is always
the failure to properly execute.

This applies to every consumer product category in which we work. From Pet Products, to Cosmetics, to Jewelry, to Giftware, to Sporting Goods and many others, the market craves novel products that offer fresh features and benefits. The key to success in Marketing Consumer Products is to get to market as quickly as possible AND execute a strategy that supports the Business and Sales Model.

We see many entrepreneurs confuse the importance of being first (and it is important) with the more crucial goal of being first and executing on strategy. One without the other is like a beautiful sports car without access to fuel. Neither goes very far.

by: Geoff Ficke

10 Bullet Point Options for Bootstrapping Your Small Business or Consumer Product Opportunity

Almost every small or micro-business, entrepreneur or inventor faces a harsh financial reality when starting out. They have little or no access to venture capital, financing or grant money. The funding source that is realistically available to them is family, friends and their own ability to bootstrap their business.

Bootstrapping a business is not glamorous, but it is the most useful, and practical method to grow a new business or product that is available to any driven entrepreneur. This is the technique I utilized to start my first business many years ago. If the strategy is successfully executed it can quickly lead to doors opening to investors and funding options.

In my Consumer Product Development and Marketing Consulting firm I review hundreds of new business and product concepts every year. Only a tiny fraction has full funding out of the gate. The vast majority spend a great deal of time and energy seeking investment tranches which will never develop. I am always amazed that they do not bootstrap their ideas in order to gain early sales traction.

The following are 10 Bullet Point Option tips that can be utilized to Bootstrap a new business or self-employment opportunity. They can be adapted and customized to fit a vast array of circumstances, consumer products and services.

1. Turn your hobby or passion into a business. If you love to bake, or sew, for instance, customize products for local church events, fund raisers, special events (retirements, jubilees, weddings, etc.).

2. Bring the product or service to the client/consumer. People are busy. Offer convenience and a quality product or service delivered to the client’s place of work or home. A man with a pick-up truck, a tool box and a ladder is a potential successful small businessman.

3. Support each successful step forward with free, local Publicity. Use a PR template (there are hundreds of samples on my website www.DuquesaMarketing.com). Circulate the releases to local media, weekly papers, social groups and churches. This is FREE!

4. Use local fairs, home shows, festivals and civic events to sell and showcase your products. A woman we worked with started in this manner selling her line of organic Bath, Body Care and Aromatherapy products. Within 30 months her line was carried by a regional department store.

5. Mall kiosks are an amazing, affordable vehicle to expose and leverage sales of your Consumer Product or Business Service. We have seen clients start by offering a line of Gift items on one cart, expand to more and then jump into traditional retail distribution.

6. Personalize products: In a world of impersonal mass production, people enjoy goods or services that offer intimacy, uniqueness. A past client built a wonderful income by creating personalized Baby and Infant items like bags, blankets, sleepers, etc.

7. Sample, sample, sample! If your product is good, and you believe in the item and yourself, demonstrate and sample relentlessly. A couple we consulted for were passionate about their Gourmet Sauces and Marinades. They built their business by attending every art and foodie event possible and constantly sampling their products while generating sales with value packs and on-site sale coupons.

8. Pre-sell. This is a technique we use every year to launch under-funded clients. Build prototypes or production quality samples, fully packaged and take orders before you build expensive inventory.  Big box retailers have the ability to buy on the local level and love to do so, if you offer a well-conceived prototype for them to review.

9. Make yourself the “authority” on the space you want to enter. Properly managed social media, publicity, small print advertorials and compelling web-sites are only a few tools available to create stronger bona-fides.

10. Network, Network, Network! Every person you know or meet is a potential client for a good or service you might be able to produce. Brand yourself and your product and professionally let others know about your business, and ask about theirs.

We have Bootstrapped businesses in Cosmetics, Fragrance, Toys, Oral Care, Fashion, Jewelry, Juvenile Products, Hardware, Gifts, Foods and Drinks, Sporting Goods, Pet Products and many more categories. A number of these businesses were able to gain sales traction and leverage into traditional retail distribution. Consider this technique as the realistic and
practical way to be the tortoise and win success slowly.