Beginning - A testimonial video is played that showcases Rainmakers achievements and breakthroughs since joining the Rainmaker Challenge.
1:47 - Cassidyy welcomes the challengers to day four: from a product idea to a physical reality! Stephen and Chelsey share their story of how they began their journey in learning the manufacturing process, starting with their very first product, a Kendama accessory. Stephen explains that it is very important to focus on a small niche in which the consumers are really passionate about that particular thing in order to build a great customer base and brand.
7:47 - Chelsey explains their initial negative preconceptions about pit bulls, based on false beliefs and stereotypes, and how meeting a pit bull puppy changed their perception. Stephen then shifts to discuss the manufacturing industry and how there are often false beliefs and negative perceptions about certain manufacturing locations, such as China. He argues that it's important to be open-minded about manufacturing locations and choose the location that can produce the best quality for that particular material.
22:21 - Stephen and Chelsey walk through the Idea to Reality Checklist. The Checklist is what students will use when looking on Alibaba, which is used for finding manufacturers in China. The first step is to search for a product you already qualified using the Product Research Checklist. Once that is completed, search for that product in the Alibaba search bar. Once the results populate, click on “Verified supplier” at the top right of the search results. Also click on “Trade assurance” on the left hand side. The next step is to click on a listing to verify the manufacturer quality. Scroll to the bottom of that page and click on “Company profile.” There you can see how many years they’ve been in business, and if they are a manufacturer or trading company (or both). While certifications such as ISO 900 are a plus, they are not always needed to ensure you’re working with a quality manufacturer.
32:27 - Stephen provides a script for initiating contact with potential manufacturers. The topics that are covered in the script are inquiring about the cost of the unit, minimum order quantity, new customer payment terms, and the price of the sample. He explains that it is important to use the script the way it is because the wording will help to gauge their English comprehension. The manufacturer’s answers will prove to you if it is possible to effectively communicate the innovation requests. After you have received new unit costs, update the numbers in the Power Profit Tool to recheck margins.
36:50 - Stephen shares the name of Rainmaker's exclusive sourcing agent partner, Jing Sourcing. By sourcing through them, they can save you time due to their access to over 2,000 manufacturers. A sourcing agent can negotiate with manufacturers, customize products, handle shipping and handling, provide free product photography, quality inspection, and warehousing, all for a small fee only paid once purchasing your bulk order. Stephen explains that the per unit cost may end up being the same as working directly with a manufacturer due to Jing Sourcing’s great negotiating skills and large network of manufacturers. For the Hustle Momma and Stuck Momma, this could be the perfect solution since it is especially helpful to those with limited time freedom.
41:42 - Rianna & Nicole share their own personal Rainmaker journeys of how they have now been able to leave their jobs and now are becoming self-employed, thanks to their Amazon business.
