When you rely on a supplier to deliver your items, you lose control. Your request may not be fulfilled, resulting in delays, dissatisfied consumers, and lower profitability. As a result, entrepreneurs are looking into self-manufacturing to acquire control over their production and company.
The road to self-manufacturing is not a walk in the park but with mastery, you may reap rewards that are not possible when you are sourcing. Our hosts, David and Ken, discuss the important lessons they’ve learned along the way, from finding the right suppliers, and processing to human resource management.
If you want to see if this is the appropriate road for you, tune in until the end. Let’s get started.
[00:00 – 06:53] Opening Segment
- Self-manufacturing versus sourcing from China
- A retrospect on the self-manufacturing journey
[06:54 – 15:30] Things We Wish We Had Known About Self-Manufacturing
- How to prepare for unexpected machinery breakdowns
- Ready your supplies
- Hire a handyman
- Negotiate with your suppliers but ensure their profitability
- Self-Manufacturing: Pros & Cons
- How to find and work with suppliers
- The importance of finding the right, quality team members
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- Promo code: FTM400
[15:31 – 26:16] Closing Segment
- The intrinsic reward of self-manufacturing
- Final words
“Most people are more than willing to share information with you, so long as you’re not one of their competitors.”
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