Where to start in business?

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10K Administrator Level 71
  • 2022-12-04
Where to start in business?

I received a message from Anton. His wife makes soft toys, knitted bags, and leather goods as a hobby. Everything goes on gifts. There are ideas about monetizing this hobby, but it's unclear where to start. We'll fix it now.

Concept

To sell something, you need to create an offer that will be something better than existing offers. You won't be able to compete with big companies in the field of price / quality, so I recommend building a concept around a unique look or function. Starting with a narrow assortment of 2 to 6 positions would be much more optimal. Limit the sales market to the country.

Market analysis

Look at different offers in shopping centers and on the internet. Think about improving existing proposals, and then tell these hypotheses to your friends. The more people who give feedback on your concept, the better.

Aggregation

Your products, customers, and reviews must be collected in one place. The main rule at any beginning is to act quickly. So choose one of the most relevant social media, and make a simple design that shows the products and proves that you are real people — don't hide your face if possible. Post offers. Ask friends who already have your products to leave a review on behalf of customers, preferably with attached photos.

Advertising

Tell all your friends about your launch — this is how you start word of mouth. Regularly post new content on social media to show that you are alive.

Other

Incorporation at the very beginning is optional. Send orders by mail and accept payment by card. And in addition, you can offer pickup from your address with cash payment.

Act on demand. It will be enough if you have material for 2-3 orders at the beginning. Try to reduce the risks and costs of time and money to a minimum.

As a bonus, find out if there are any programs or grants you could use.

Good luck.

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