So let's begin again with my accomplishment for 2010. I started a business which in itself is quite an accomplishment. I will try to break all of the components that went into starting this body care product design business and why I am so in love with it.
It really started simply, I didn't have some big revelation or some gigantic problem to solve. It was my chapped lips and five different lip balms (in my purse) that didn't work and an exhaustive search for a product that could fix this problem. When I couldn't find a lip balm that I liked and that worked on my lips, I simply googled "make your own lip balm" and the world of handmade personal care products flew open and jumped into my lap...the rest is history.
I have a 5 year plan for my business which consists of a 5 step process which is completely fluid. Each year will build and extend into the next:
- Learn the basics, formulate recipes, vet vendors, create a supply chain (even if it's only in your kitchen at first), create a social media presence (whether large or small), learn more, reformulate recipes, get on the farmers' flea, fair and expo market circuit to sell products, etc. Build web presence/traffic. Make charitable giving an important part of the business model. Decide on the business philosophy.
- Learn more, aggressively market products to potential retail partners and improve supply chain and introduce vertical dimensions. Sell, Sell, Sell.
- Learn more, move into a bigger production space, hire assistant/production manager.
- Learn more, grow product line if necessary. Hire operations manager, maybe a product broker.
- Learn more and concentrate on PROFITS, PROFITS, PROFITS...I expect to be at least a $2 million company and at most a $10 million company.
Wish me luck.
Be well, Dannette
No comments:
Post a Comment