This post is part of a new 5 part series I have put together to save you years and years of time while building your business. The 5 areas we will be covering over the next 5 weeks are;
Having the right product for your area, the right people, right pricing, the right venue and location will all determine the outcome of the event you are participating in. When putting together your plan of action you have to equally consider these five things. By following this format you will more then likely develop a solid foundation that you will be able to build a profitable build on.
Right Product. How do you know what the right product is? This all begins with some common sense, and knowing what's trending for your location and client population. You may be objecting to this thought process because you are ready to start your biz? You just want to sell what you make. But I guarantee you that thought up front is going to save many tears and maxed out credit cards later. If you are a knitter and you live in Florida it wouldn't be wise to sell scarfs and gloves at your local farmers market. People will walk by your creations and say" I would have loved that when I lived in-------you fill in the blank. So now you have 2 choices. You can design a knitted project that someone in warm weather would love or chose a different venue, such as an online community because it isn't so climate specific. Maybe you might create shoulder bags or newborn items or wedding garters. I am sure you could come up with several wonderful knitted items that would be appropriate.
When I started out doing shows nearly 20 years ago, I only took very pricey high-end items. Nearly every person coming in my tent would comment about my lovely items. They would often state that they were their “favorite of the show”. But you know what? I can't tell you how many times I left without selling a single thing, while the old couple selling cutout wooden strawberries next to me would sell out. I was furious and so disappointed until I realized that I had to know which products would work and be attractive to the buyers and the price point for the buying audience of each show. Once I figured this little bit of info out, I was able to craft something that my audiences could afford. I came up with something that would work at any show or venue, for any type of customer. I started offering 20-25 dollar items that I could craft quickly and easily with little investment. This actually did several things to move my business forward.
1. It created revenue that covered my expenses. I knew that my low-end pieces would pay for the show. (They always sold out).
2. It put me in the right frame of mind. There's not much worse then doing all that work, creating all those incredible pieces and not selling anything. So selling the small pieces will keep you in a positive abundant mindset. Abundance attracts abundance. Broke mentality attracts just that. There is NOTHING attractive about being a starving artist. (Believe me I tried it)
3. Gives you a platform to show off your best work while attracting the right buyer for your custom premium works.
4. And lastly, it let them leave with a little piece of me. The lower priced items were a constant calling card. Every time they would wear that $25.00 necklace they would think about my creations and me. I like to look at this as being paid to advertise. Because when they wear that piece around their neck, that’s what they are doing, advertising for you.
I hope my years of trial and error; both on the road and in retail locations can save you years of time and thousands of dollars; in figuring out what will make your business most profitable.
Please be sure to check back and subscribe to our email subscription so you can receive the other 4 super business-changing parts of this series.
Paint Your World Pretty, Nancy
PS I am known to include bonuses, gifts and coupons to our fans.
The Right Products
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I am the Founder and Creative Entrepreneur of Poppie's. I am a Wife to Poppie, Mother and Artist. I create masterpieces by turning broken into Beautiful through a process I call ReHeirlooming. " It doesn't matter how broken you are, what really matters is how you put the pieces back together" .