1. Advertising
    y u no do it?

    Advertising (learn more)

    Advertise virtually anything here, with CPM banner ads, CPM email ads and CPC contextual links. You can target relevant areas of the site and show ads based on geographical location of the user if you wish.

    Starts at just $1 per CPM or $0.10 per CPC.

Getting things off the ground

Discussion in 'General Business' started by Mellys, Feb 2, 2016.

0
  1. #1
    So I am curious to those that are small business owners - when you first started your company (if you sell products for example) - do you think that money should be spent in inventory or only specific demos to see what sells first? I am working on launching a jewelry store online and there is so much to do.
     
    Mellys, Feb 2, 2016 IP
  2. Spoiltdiva

    Spoiltdiva Acclaimed Member

    Messages:
    7,739
    Likes Received:
    2,896
    Best Answers:
    53
    Trophy Points:
    520
    #2
    Don't mortgage the farm, sell the condo or put your house on the market for a dream. You ought to see if anyone is interested in what you're putting on the shelf. Then you need to come up with marketing concepts that will move your product off the shelf.
    I have seen people sell everything, then their idea fails and they are left renting an apartment. Test to see if what you have will sell, THEN find a partner(s) and get inventory, then get a pro to work on your site and someone else to work on distribution and advertising. Don't put the cart before the horse. Slow, easy and methodical is the safe/smart way to go.
    Always have something to fall back on, a safety net. And to those who go on and on about taking risks being the only way to make it....ya, some people will talk big with YOUR money.
     
    Spoiltdiva, Feb 3, 2016 IP
    jrbiz likes this.
  3. sarahk

    sarahk iTamer Staff

    Messages:
    28,500
    Likes Received:
    4,460
    Best Answers:
    123
    Trophy Points:
    665
    #3
    It all depends on what you are selling and the quantity that people are buying and who is actually buying.

    For instance, if you were selling widgets to supermarkets as part of their product range they'd expect your production lines to be going before they signed up.
    Jewelry is a different matter - but it will depend on how long it takes to make them and how much time you have.

    If I order something from Etsy, say, they'll say to allow 3-5 days for processing and 21 days for shipping.
    You could use the 3 - 5 days to actually manufacture what I've bought and I'd be none the wiser
    But if I wanted to use it as a client gift and bought 100 you might find you couldn't produce them in the 3-5 days allowed.
    Most people buy jewelry in singles so you probably don't have to worry about bulk orders (or could a retail chain want to stock your work?) but you have to consider different scenarios, decide which are most likely and ensure you have them covered.
     
    sarahk, Feb 3, 2016 IP
  4. EPol83

    EPol83 Active Member

    Messages:
    162
    Likes Received:
    7
    Best Answers:
    1
    Trophy Points:
    70
    #4
    Fantastic question! Managing our money. First thing I do is take out the necessary taxes. After that if just starting a new digital business I will invest 80% of what I have left back into it to help "launch" it a little better and faster. Key is and something I learned is to always start small. Never spend a lot on something at first. Make sure it works and is a good fit.
     
    EPol83, Feb 3, 2016 IP