Navigating the Challenges and Triumphs of Product Innovation

Lisa Lane is the innovative mind behind Rinseroo, an e-comm shower darling to solve the pain point of washing big dogs in the shower. She joins Reid and Liz to discuss the intricacies of bringing a new product to market, including the importance of building and maintaining brand identity and the need for brand protection in the ever-evolving landscape of #ecommerce.

Key takeaways:
● The significance of understanding the market, manufacturing, distribution, and advertising aspects of product development when bringing a new product to market. the significance of having a viable product that is different from what's already out there, determining the market size and potential customer appeal, understanding profit margins, and making the right decisions about manufacturing and distribution.
● The power of ecommerce platforms and technology, particularly Amazon and TikTok, in reaching a wide audience and scaling a business, which have enabled small businesses to thrive in the ecommerce landscape.
● The importance of building a strong brand identity and obtaining trademarks to protect products from knockoffs, particularly in the ecommerce space, and the role of GS1 barcodes in ensuring legitimacy and brand protection.

[1:52] Lisa Lane’s background and history of Rinseroo
[03:22] The process of brining a net new product to market
[6:51] How Lisa created the brand identity and how it is maintained, especially on Amazon
[9:35] Other challenges Lisa has encountered as a small company with quick growth
[15:05] The multiple channels Lisa is using to sell the products today
[16:07] What’s next for Rinseroo
[18:33] Lisa’s current favorite technology
[19:35] Something that has just blown Lisa’s mind