ashleyvictoria

[ashleyvictoria]

Week 13 - Start Up Venture

This week I had a bit more traffic to my page. Posting in the handmade Christmas Markets helped to draw some more foot traffic. It lead to a couple more sales! I managed to sell 2 more blankets.

I am still finding that it is slow despite posting a few times in the various groups. I'm finding that relying on only one form of social media may not be the best approach. If I keep going with the business, I may consider spreading my wings to use Instagram as another platform as well as Facebook.

It makes me happy when I get a sale and I'm excited to get out to the fabric store to get the fabric. With each sale I get to perfect my skills making the blankets. I have learned to appreciate the amount of time and effort that goes into handmaking items. I have been lucky to get a lot of the fabric on sale lately, so I have felt a bit guilty charging full price for the items, but I have learned that I have to take my time and effort into consideration as well. I need to be paid for making them, not just purchasing the material.

It has definitely been an eye opening experience running this little business. I have learned a lot from it.

[ashleyvictoria]

Week 12 Venture Start Up

This week, my order finally showed up and I was able to finish the blanket for my customer. When she picks up her order I will be able to ask her for a review.

I have been posting on the buy and sell groups as well as Christmas markerts. There have been a couple new views, but no sales. I have had some bites for future sales, so I'm pleased about that.

One more week for a final push. Advertising only on Facebook has not been very successful. I had hoped that using marketplace to sell would have drawn more customers, but it is tough to be the top post that everyone sees.

It isn't easy running a business, but I'm enjoying it a bit. I've enjoyed pushing my boundaries. This has made me want to keep it going after this assignment is done.

[ashleyvictoria]

Week 11 - Start Up Venture

This week has been another slow week for my business.   I finished a blanket for a customer and one for fun, then posted pictures in hopes that it will help to attract more customers, as they can see some different patterns and colours.  From friends and family, my posts are shared, so my blankets are being seen by people, but I find that people are not really visiting my page.  I have branched out and found some online Christmas markets and other local buy and sell groups in hopes that it will attract some attention.  

One big problem I have is that for some designs, I am forced to order online for the material.  Now I am at the mercy of the seller as to when I get the material.  Because I am such a small, new business, I need all the promotion I can get in the beginning.  It is difficult to ask for a review on a product that you haven’t even handed over to the customer yet. I am also at the mercy of the customer for the review.  I can ask for it to be written, but it is up to them as to whether or not they will write one. The task usually ends up on the back burner for people and they tend to forget to do so.  I also do not want to become a burden asking constantly for the review.  

 Sometimes I also feel like I am self sabotaging.  As a single mother, overseeing my son in his JK class, trying to keep up with my own school work, keep the house going, and life in general, I feel like sometimes I step back from it, or I resist posting in various groups, so that I don’t feel as overwhelmed. Then before you know it, the week is over, and you still feel like you are no further ahead.  I want to succeed, but I’m scared of it at the same time.  

No one ever said this was easy, so we keep going and trying our best.   

[ashleyvictoria]

Week 10 Venture Start Up

This week I managed to get my first non family/friend sale! I had posted my business in a post about promoting local businesses, as well as the local buy and sell groups. I noticed before that my page was not getting many views and I started to look into what I felt could be the problem. The more I looked at my write up's in the buy and sell groups, the more I realized they weren't eye catching. I changed how I pitched my business and was pleased I happened to get a sale! Sometimes it helps to reassess what you have done and change it up if it doesn't appear to be working. I made the same post on my own personal page and found that more of my friends responded to it as well. One or two of them said they would be coming to me when they knew what gender their friends were having. The improvement in engagement was a small win in my books.

One struggle I'm finding is that with customizing, it means that I may have to order fabrics online. This puts a delay in turn around time. I was very excited for my sale, but because I'm having to have the fabric shipped to me, it will be much longer before I can get the blanket to the customer and that means much longer before I can ask for another review to help promote. But, at least the customer can say I did what I set out to do.. Find the right material to make it the best blanket for their child.

Running your own business has its up's and downs. The small victories are what keeps you pursuing your goals. With everything going on in the world today, I'm taking my one sale as a win for the week. Next I will be looking to find some local online handmade markets to post in. Hopefully people will want to order for Christmas.

[ashleyvictoria]

Online Showcase for Bundled With Love

https://drive.google.com/file/d/1tf_88GNlgUyvNIykQvcVifaVDxlcvMij/view?usp=sharing

[ashleyvictoria]

Week 9 Start Up Venture

Well... It has not been an easy week for me.  Due to unforeseen circumstances, I had to step away from working on my business and take care of some emergency issues around my home.  It has not been a good week for mental health either.

I was able to get one person to write a review for my business, so I hope that it may help to drive some more traffic and sales.  

I feel a bit like a broken record but I am still finding it a struggle in managing to work out life, school, a 4yr old, and business all on your own. It’s tough being pulled in so many different directions and you don’t know where to turn next.

I’m learning that it is ok to need a mental health day and that it’s ok to fail.  It is from failure that we learn.  We learn that we won’t make the same mistakes again.  Having said that, I am also learning that you need to push yourself and not fall into the pattern of allowing failure to discourage.  It is tough to break away once you feel that way.  

Next week the plan is to continue to promote and push for sales online. You need to ideally be the first post that people see when they open up their social media accounts.  If you aren’t, then the chances of being noticed are slim, and you don’t get the traffic or sales. 

[ashleyvictoria]

Week 8 - Venture Start Up

Well we are at the end of another week. Where does the time go? This week, I managed to secure a couple more customers which was good. They were not acquired through my Facebook page, but through word of mouth about my business. One of them happens to be a returning customer. She liked the blanket I had made for her so much that she wanted one for herself.

While I am getting traffic to my posts, I'm not getting much engagement with them. The struggle with that comes from not having that much to post. Without the sales and finished products, I didn't have much to show. With these new sales, I will have more pictures to take which will hopefully help to increase sales and traffic. I have reached out to a couple people for reviews, but they have yet to be posted. I will have to "push" for those.

Running a business is not a walk in the park. I'm finding that there are just not enough hours in the day to accomplish what I want. Balance between the business and school for myself and my son, as well as taking time out for mental health is a struggle. I never expected it to be easy either, but it is definitely challenging when doing it all on your own.

I am slowly figuring out ways to budget time better to get things accomplished. But I'm finding myself feeling defeated and frustrated. Fingers crossed for a better week.

[ashleyvictoria]

Progress of Start-up Venture - Week 7

This week I spent finalizing my Facebook page and promoting my business on local buy and sell groups.  It seems to be going fairly well, as I have had a fair amount of traffic come through the page.  I have posted up a few different pictures of fabrics and of completed pieces.   Through the Buy and Sell groups as well as friends sharing the page, the page has been visited 88 times in the past week.  From this I can see that people are visiting the page.  However there has been no bites for sales.  I will be reaching out to those who have purchased/received blankets from me in the past to leave a review about the blankets I make. I am hoping that it may help to drive some sales.  I will also be taking new pictures of my product in varying lights and places to showcase them more professionally.  

So far, I feel that the project is coming along well.  I did not anticipate sales within the first week as I still feel that my page could use a bit of work. I am in need of more pictures and some reviews to help encourage people to buy  I am hoping to see an increase in traffic over the next week as well as some more engagement with the pictures and perhaps to inquiries and future sales.  

Running a business is not easy.  It takes a lot of work and dedication.  There is a lot behind the scenes that many do not realize.  Making a profit may not be as easy as one expects once they factor the expenses in.  You need to find creative ways to drive people to visit your website or page.  It would be beneficial to have it be the first thing that a potential customer sees when they jump on their social media platforms.

Making the blankets brings me a sense of comfort, as I feel like I am channeling my mom.  I am learning that it takes a lot of time to run a business and you have to find the balance between family life and business life.  I am finding that to be a bit difficult given the current situation with COVID-19 and online Junior Kindergarten. Time management is a skill that I have to learn to master. I also am learning that I am to hard on myself for “failures”.  What I have to acknowledge is that I am doing it.  I can do whatever I put my mind to.  I am doing well for doing it all on my own. 

[ashleyvictoria]

Financial Resources

If I was going to take this business forward, I would have to look into two things:

1) How much am I going to invest into my company? and 

2) Where will I get the rest of the money from?

As a small company making blankets, I would begin with my own capital and “love money” followed by a small personal bank loan.   I would begin this way as I would want to take my business as far as it could before having to resort to a small bank loan.  I already own all the machinery and tools required for my business and my biggest expenses are materials.  Using the “love money” to purchase inventory would help me to get the business underway.  Once a few sales are under my belt, I would then be able to take my business plan, along with a cash flow statement and my personal Equifax score to the bank to show them that investing in my business would be a sound idea.   

I would not use a venture capitalist or business incubators, because my company is not technology driven. 

Investments from Angels would be something to consider, as they would have a lot of experience and expertise to offer, but I would have to be willing to offer up a lot of control of my business.  

Grants are another option as well, but as I don’t feel that my business is very innovative, I do not think that I would fair very well against the competition.  It can be very tough to get a grant and there is a lot of criteria to meet.  

[ashleyvictoria]

Business Operations Plan

Materials Needed

My business of making customized baby blankets will require the following material:

·       Functional sewing machine

·       Replacement needles

·       Spools of different colour threads

·       Variety of cotton, minky, berber, and chenille fabric

·       Fabric cutting board

·       Fabric cutting blade

·       Computer with internet and MS Office

·       Cards to package with blankets

·       Ribbon to package blankets

Most of my expenses will be purchasing the fabrics and tags to tie on the blankets.  I already own the machinery and tools as well as the computer.

Selling Space

My business will be run from home, so I will be using social media to promote my business.  My main customers will be in my local area.   I plan to make use of the local buy and sell groups, in order to reach these people. Customers will be able to choose from porch pick up/drop off or choose a location that would be suitable to meet for delivery.  

An advantage to working out of my home is there is no rent expense.  This will allow for more funds to be used for materials.  I will also, no have to take into consideration parking as no customers will be entering my home.

Manufacturing, Logistics & Purchasing

As I am just starting out, all manufacturing will be done by me.  Fabric will be purchased from local fabric stores.

Policies, Processes and Procedures

My turn around time for my blankets.  I will aim to have them completed and ready for pick up or drop off within 1 week from the date of purchase.  

There is a no return policy

Payment will be required upon delivery

Business Goals

1)      Have my Facebook page up and running by end of week 6

2)      Have 3 samples for sale completed by end of week 6

3)      Sell 10 blankets in the remaining 7 weeks of the course

Licenses and Permits

I will be required to label my blankets to disclose what they are made from.  Label must be clearly visible.

I will not be applying for a CA Identification Number.  Instead, I will put my company name and address on the label.

[ashleyvictoria]

Creative Advertising Exercise - Not a Safety Pin

[ashleyvictoria]

Customer Persona

About Her

Theresa is a new mom.  She works for Royal Bank of Canada but is currently on maternity leave with her 4-month-old daughter.  She lives in Mississauga, Ontario with her partner.

 Benefits

When you purchase a blanket from Bundled With Love, you will receive:

1.       A unique to your child blanket.  Customized with your choice of fabric

2.       A durable, machine washable blanket that will last many years

3.       Soft on sensitive skin

4.       Will not overheat child

 Use Case

Theresa is currently using a sleep sack on her daughter.  Her daughter is only 4 months, so she is not using a blanket just yet.  She is looking forward to the winter months, when her daughter will be that much older, to use the blanket over the sleep sack. Like most children, Theresa’s daughter is exothermic, so she likes how the blanket has the two different types of material on it.  You can put the cotton side on the chid instead of the chenille side, and vise versa if it is a colder day.

 Previous Solution & Pain Points

Theresa had been given a bunch of blankets as gifts.  Some were quite small, and others were crochet blankets.  Crochet blankets make nice throw blankets, but they would not work as a sleeping blanket. The wool used for crocheting can be a little rough on sensitive skin.

The problem with this is that children outgrow things very quickly.  After a few months, she will need to purchase another size up.

Babies can only use swaddling sleep sacks until they are able to roll over.  Once they learn to roll, you must switch them to one that does not pin the arms.  They range from 0-6, 6-18 months, and 2yr – 4yr.   Prices range from $30 - $140 as the sizes increase.

Buying Trigger

Purchasing baby items gets quite expensive as they grow out of everything very quickly.  Thought that there needs to be a better way that does not cost as much in the long run.

 Buying Process

Theresa had seen a blanket that I had made for my son and she really liked it. She got in touch with me to have another look at the blanket. She analyzed the blanket and asked me questions about how my 4yr old son likes the blanket. Hearing that the blanket was made 2 years ago, that we have travelled with it, and seeing how many washes it has gone through, she was quite impressed. She could see that the blanket was going to be used for many more years.  She then picked out her choice of pattern and colour.

 Choice Factors

There were many factors involved in Theresa’s choice to purchase a blanket from Bundled With Love:

1.       Size

2.       Durability

3.       Weight of blanket

4.       Comfort

5.       Will not overheat child

6.       Ability to customize

[ashleyvictoria]

Local Competition

There are many different competitors in the baby industry.  Some are small business companies that specialize in personalized gifts, while others are big box stores that sell it all.  I decided to take a look at three different businesses, to see what their online presence was like.  I chose to have a look at You Name It Baby, Sammy G’s Personalized Gifts, and The Baby’s Palace.  My google search was for baby blankets near me and homemade baby blankets near me.

You Name It Baby

You Name It Baby is a Canadian company based out of North York, that sells personalized gifts for babies.   The website has 14 google reviews which were mainly good reviews, giving the company a rating of 4.6. The owner has not reached out to thank their customers for their business/review or address concerns.  The website itself was easy to navigate.  It was a simple look and very welcoming.  I had no problem finding what I was looking for, be it the product, or shipping information, or the nice story about how the owners came up with the idea of the store. In the Answers page they have made sure to address COVID 19 and how it affects turnaround time. Their baby blankets vary in price from $30.99 - $135 plus tax depending on the type of blanket and can be personalized for a fee. All blankets are 30″ by 40″. Shipping in Ontario and Quebec is set at $8.99.  The rest of the country is set at $14.99.  Free shipping for any purchases over $200. Shipping to the United States is $24.99 - $34.99.  International shipping is available, but the buyer must call for pricing.  The United States and International do not qualify for the free shipping. You Name It Baby has a good social media presence as they have 3173 followers on Instagram and 4807 followers on Facebook.   

 Sammy G’s Personalized Gifts

Sammy G’s Personalized Gifts is another Canadian company that specializes in personalized gifts for little ones and adults. Google showed 20 reviews and a rating of 4.8. The owner of the company has taken the time to respond to each review and either thank them for their business/review, or address any concerns.  This website was much more difficult to navigate.  The first link clicked on from Google did not take me to the actual website where all the product is shown.  It took a lot of searching to get into it.  However, I found that it only happens when you click on the website button in the google recommendations.  If you search for Sammy G’s Personalized Gifts, then it is the first link that pops up.  It was frustrating at first, but once in, I found that the website was a little hard on my eyes. The pink font was hard to read over some of pictures.  The pictures are great and really show off the product.  Blankets are $69 each and come with one personalized name. It is an extra $15 per name. They are 35” x 28” and are made from velour fleece knit and velour fur.   Shipping is not told to you on the site.  You are required to order your product and then wait for an email to tell you how much shipping will be.  Once you agree to the cost, then your credit card is charged. It could be that they are trying to get you the most cost efficient price for shipping, but it is also a deterrent, as you have to wait for them to get back to you on the cost. The social media presence is low for Sammy G’s Personalized Gifts as they have 82 Instagram followers and 573 followers on Facebook.  

 The Baby’s Palace

The Baby’s Palace is a company that specializes in baby products. They sell everything from blankets to furniture.  The store front is located in Brampton and Erin Mills.  Google shows 95 reviews with a rating of 3.8.  Most reviews were good, with a few about it being a shady company. Most of the bad reviews lie around big ticket items such as cribs and car seats.  The owner has reached out to address those who have had a bad experience, but has not thanked those that had a good experience.  The website itself is very basic and easy to navigate.  They have a long list of products on the side menu, so it took me a minute to find the page for the blankets and quilts.  The costs of the blankets range from $29.99 for muslin blankets to $69.95 for quilts and there is no description of the products.  Customers are not able to see the size of blanket/quilt they are purchasing.  Shipping is calculated based on postal code and added to cost during checkout. The Baby’s Palace has no Instagram account.  They do have an account on Facebook with 133 followers.  Their social media presence is lacking. 

[ashleyvictoria]

Message Map for KLM Royal Dutch Airlines

[ashleyvictoria]

Strengths and Weaknesses

Financial Planning: Responsibility with money

Strength - knowing how to budget and spend.  Every month I keep track of expenses versus income in with my own personal account.  Helps to make sure that all bills are paid properly and on time.  Expenses must be taken care of before luxury spending may occur.  Good skill to possess when running a business as all expenses of the business are responsibility of the owner and will have to come out of pocket if they can not be met. 

Sales and Negotiation: Selling yourself and your product or service

Weakness - Having to sell myself.  I’m not overly confident in myself.  Practicing selling and making sure I’m in the best mind frame when selling will help.  Also, learning not to take the ones who say “NO” to heart is tough.  Learning to let it go and say “OK, on to the next one”.

Strength - Making sure I have full knowledge of the product or service I’m selling, so that I can believe in what I sell.  Not afraid to ask when I am unsure of the answer.  

People Management: How you interact with customers, and the experience they have.

Strength - Taking the time to listen to the customer.  As a former retail associate, I had to practice this every day.  Putting together the right package required listening to them and asking the right lifestyle questions to make sure their needs are met.  This also worked when there was an irritate customer.  They want to be heard.  There were lots of times where the product they purchased did not meet their needs, so I would apologize and start the process of learning about them all over again in order to make sure that what they did end up buying would be right for them.  Sometimes it would also be a case of teaching them how to use it.  But if you take the time with the customers, then you can turn an unpleasant experience into a pleasant one. 

A happy customer will tell one person about their experience.  A dissatisfied customer will tell at least 10 people. The key is to also get them to tell how you fixed the problem and turn the bad experience into a good one.