BY LEE ALLENTUCK
Five Ways Small & Medium Sized Companies Can Compete with the Big Guys:
Welcome to the battleground of innovation, where David meets Goliath in the world of toy and game manufacturing! In an industry dominated by colossal corporations, small and medium-sized manufacturers often find themselves fighting an uphill battle. But fear not, for the sling and stone of today’s marketplace are creativity and collaboration. This article is not just a call to action; it’s a war cry for the underdogs in the toy world!
1. Harness the Power of Freelance Innovation:
The first secret weapon in our arsenal is the untapped potential of freelance designers, inventors, and engineers. Why restrict your creative flow to in-house talent when there’s a sea of innovation out there? Take a cue from companies like Hasbro, Melissa & Doug, SpinMaster, and Blue Marble, which regularly collaborates with talented professional freelance inventors, engineers, and designers for fresh ideas. Platforms such as Mojo-Nation are brimming with creative minds eager to inject new life into your products.
2. Embrace the Collaboration Culture:
Collaboration is the new competition. Small and medium-sized manufacturers have the agility to form dynamic partnerships quickly. Engage with independent inventors and designers from communities like People of Play. Create brand alliances and cross-licensing opportunities with popular brand IPs. Remember, the next big idea in toys and games could come from an unexpected brainstorming session with an outsider who sees things from a different angle.
See Lee’s other three tips here.
About Lee Allentuck
Lee Allentuck, the founder of The Plan A Group, stands at the forefront of the toy and game industry with 20 years of trailblazing experience. He was nominated for the MojoNation 100 Most Influential Figures in Toy & Game Design underscores his impactful presence in the industry. Beyond his professional achievements, Lee is a fervent advocate for STEM education, inspiring future innovators as a FIRST robotics coach and through his influential Raising Nerd parenting blog.
