I want to address those just thinking about starting their
own business in the new year. For starters congratulations on taking that first
step but now that you’re here what’s next? Let’s start by giving you a few
pointers on how to begin.
Don’t be afraid to
ask a lot of questions– We love when new customers have a lot of questions.
We love answering them too because it’s the customers with the most questions
that turn out to be the most successful. Why? Because they have taken the time
to do their homework they know the questions that they need answered to be
successful and they are not afraid to ask them. Remember your success is our
success so don’t hesitate to ask any questions.
Right now is the best
time to start!- but the holidays are almost over why start now? Because the
holidays are almost over! You want to kick start your business in the offseason
for a few good reasons. For starter’s you are learning the ropes and some small
mistakes are unavoidable when starting a new business. While it may be quite
appealing to open up shop at the end of the year when sales are brisk, are you
prepared to deal with that volume? Have you sorted out your pricing? is it both
competitive and profitable? These are questions you want answered well in
advance of fourth quarter when all you should be concerned with is moving the
items in and out as quickly as possible.
The economy is booming and US is a full employment. Don’t sit on the side lines and watch
others build their dreams.
Start small– I
know you may be gung-ho about getting started and want to have a huge
storefront filed with goods or get thousands of items up right away on your
e-commerce site but take your time and grow gradually. Start small, lean the
ropes and build momentum. This also gives you a greater degree of flexibility
to add on new product categories if you want to down the road. Starting small allows you to experiment with
different merchandise which lets you figure out what works best for you.
Play it safe with your
first purchase– In addition to starting small, play it safe, start with a
shelf pull condition lot. Why do we recommend starting with a shelf pull
condition lot for your first order? Shelf pull lots require very little effort
prepping for resale. Items are tagged and these lots have the lowest defect rate. Customer returns can
be tricky even for the experienced seller so minimize your risks with your
first purchase and start with a shelf pull condition lot.
Don’t be afraid to sell
something out of your comfort zone– what happens with many sellers is that
they learn a category inside and out and then stick to it. That’s great but are
you boxing yourself in? Don’t be afraid to try out new categories of goods you
may find that there are some unforeseen advantages that may be very beneficial
to your business. Say for example you are selling high end designer women’s
clothing, it’s profitable but sales can sometimes be slow why not complement
your offerings with some faster moving essentials like intimates? Keeps the
cash coming in and your making healthy margins on your core products a win-win
situation.
Success is about
setting goals and meeting them- Have some big goals you want to achieve
with your new business? College fund for the kids or a down payment on a home?
Make these big goals possible by setting many small goals and achieving them.
Success does not happen overnight, its many small victories that make those big
goals possible.