What does it take for innovative products to succeed in today’s ecommerce marketplace? Is there any hope for entrepreneurs to get their ideas amplified? Ryan DeChance is the Discovery Director at The Grommet, a product discovery platform. In his conversation with Roy, Ryan opens up about The Grommet’s partnership with Ace Hardware, how they evaluate products, what role crowdfunding plays for The Grommet, what they look for when they consider supporting an entrepreneur and much more. Don’t miss a minute of this fascinating episode featuring Ryan and The Grommet!
Expanding the platform.
With the recent merger of Amazon and Whole Foods, conversations have increased about how ecommerce brands can partner with retailers. Playing to their strengths, these type of partnerships make a lot of sense to customers and investors. In 2017, Ace Hardware invested in The Grommet and also became a close retail partner. Together, with The Grommet’s web platform and physical presence in Ace stores, they are identifying, testing and growing new brands to become tomorrow’s household name. Learn more about The Grommet and Ace Hardware’s partnership by listening to this informative episode.
Product evaluation.
What does the process look like for product evaluation at The Grommet? Are there specific criteria that Ryan DeChance and his team search for when they consider an innovator and their product? As they begin the process, Ryan goes to work vetting the individual or team behind a particular product before they move forward. After that point, Ryan pitches the product to his discovery team, and they consider how the product fits on The Grommet platform. If the product passes muster, they proceed to the launch process which takes two to three months to complete.
How The Grommet works.
When you think of product platforms, what comes to mind? Between giants like Amazon, Ebay, and Kickstarter what would it look like for a product platform to stand out? The Grommet is a product discovery platform that amplifies innovative and unique consumer products from makers, inventors and small businesses to a community of 3.5 million supporters and early-adopters. Every weekday they launch at least one new product, and their goal is to improve the way consumer products are launched, discovered, shared and purchased.
Tips for successful crowdfunding.
How can innovators and entrepreneurs set themselves up for success? What is it that investors and partners look for when they consider which products to back? According to Ryan DeChance, more innovators need to be focused on these three areas:
- Build support in your community and social spheres.
- Don’t be discouraged if you don’t find initial success, keep at it!
- Be kind and treat others like you’d like to be treated. Goodwill can go a long way.
To hear Ryan expand on each of these critical areas and provide more insights into how The Grommet works as a product discovery platform, listen to this episode of Art of The Kickstart.
Key Takeaways
- [1:05] Ryan DeChance joins the podcast to talk about The Grommet.
- [3:40] How did The Grommet end up partnering with Ace Hardware?
- [6:00] What is the process of evaluating products for Ryan and his team?
- [10:00] What role will crowdfunding play for The Grommet platform going forward?
- [11:45] Ryan talks about what The Grommet looks for when considering partnerships.
- [13:20] Tips for a successful crowdfunding campaign.
- [15:20] Ryan enters the Launch Round; rapid-fire questions.
- [19:30] Why you should check out The Grommet.
Links
- Elon Musk
- Benjamin Franklin
- Thomas Edison
- The Tattooist of Auschwitz
- Subliminal
- The Everyday Calendar
Connect With The Grommet
Sponsors
Art of the Kickstart is honored to be sponsored by The Gadget Flow, a product discovery platform that helps you discover, save, and buy awesome products. The Gadget Flow is the ultimate buyer’s guide for cool luxury gadgets and creative gifts. Click here to learn more and list your product – use coupon code ATOKK16 for 20% off!
Art of the Kickstart is honored to be sponsored by BackerKit. BackerKit makes software that crowdfunding project creators use to survey backers, organize data, raise additional funds with add-ons and manage orders for fulfillment, saving creators hundreds of hours. To learn more and get started, click here.
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