Hubbe.rs interviewed Jason Lim, a unique expert in the world of creation. He is not only an engineer by education and experience but also a seasoned sales and marketing professional with a strong understanding of how to create and run a successful business from scratch.
Jason is the CEO of Heap Venture providing worldwide brand, product and sales management for start-ups and OEMs. The company offers functional cooperation to clients as an established, integral part of the organization from 1–3 years. In this principal role, Heap Venture takes on the management and execution of tasks from R&D to production, branding, sales and marketing.
1.You emphasize that you are not a consulting company, why?
Simply because I do more than just consulting. Helping people to create a brand most of the time isn’t enough. An engineer, a person with just an idea doesn’t have the overall knowledge of how to take the product to the market. Let alone to sell it successfully on the market. Building the brand, and the product is the first step, just the beginning of the creation process. What comes afterwards makes the brand fail or become a rewarding investment. I not only help to create a product, but also run the whole business in a profit sharing arrangement. Helping doesn’t end at making a plan, but I also support the steps before and after the creation such as funding and finding distributors for the ready product.
2.How do you validate your projects?
“I believe that ideas are easy to find. There are lots of people out there with good and great ideas. My main focus is on foundation and people. People I choose to work with first of all have to have the know-how in their field of expertise. In my case I focus on audio wireless brands. I need to see that my clients are experienced, smart, open to change and flexible to adapt. A strong foundation also means a competent production partner, a factory with proven core of competence. “
3.How do you decide what products you want to work with?
I focus on two main aspects: factories and the product itself. I work with factories with unique capabilities where the core competence is wireless technology and proven track record. In terms of the product, the most important aspect of any potential product is that it has to be useful. I don’t work with entry-level creations, because it is impossible to compete with those on Amazon. I create a better positioning by building a top of the line item that is not a cheap replica of something that exists already on the market.
4.What success stories could you talk about?
In 2014 with backing from the OEM factory, I established a new brand on the market called NuPrime Audio. NuPrime produces a division of high-end sound technology equipments such as amplifiers, home theatres, and headphones, as well as a series of superbly engineered yet affordable components. I am proud to say that in 2015 NuPrime has received four “Product of the Year” awards from two prestigious magazines.
With NuPrime I leverage my international connections of not only with various high-end production facilities, but also with competent and established distributors. I ensure that the product I create has a sales channel ready on the market. The electronics are made in Taiwan with parts sourced from suppliers worldwide, with roughly 30% from the US companies. 60% of gross profits pay US dealers, supports and sales staff. 10% of gross profits go to Taiwanese factory workers and expenses. The remaining 30% goes to engineering, marketing and management staff.
Today NuPrime products with over 20SKUs are successfully sold in 20 different countries in Asia, Europe and North America. From a start-up in 2014 with zero sales, we have been continuously growing at 30% a year, and with annual sales exceeding $1M.
5.What do you consider your challenges?
Working with a team of people with different professional and cultural backgrounds is not always easy. It is a delicate job to coordinate between internal staff, creator and the distributor. I have an established line of distributors in my chosen field, hence when there is a new product ready to launch, my distributors are ready to take on the brand. This is a very valuable aspect of my process because I receive feedback from my distributors and I am also able to collect suggestions on what new products are needed on the market. I work with complementary brands in the same sectors such as D-Stream speakers, Skideev antennas and adapters, and speakers or Celsus Sound Systems. Thanks to this approach I am able to use the same distributors.
6.What is your advice to future creators?
It is important to understand the reality of the market place. Naivety and stubbornness doesn’t have a place here and creators need to line up their entire chain, understand their challenges, weaknesses and strength before starting a project. Having money is not enough. Creators need to acknowledge what they are good at. In fields where creators lack of experience or expertise, it is better to ask for support instead of stumbling through and not wining at the end.
7.How can you help our Hubbe.rs creators?
If you have an idea that is related to electronics, specifically to sound and audio systems, I am able to help you not only to bring your idea to market but also to help you to make your product succeed on the market. My expertise varies from software, to hardware, from sales to marketing. I offer a complete solution to specific ideas.
Jason is an expert in sales, distribution, product marketing.