Very quickly because like i may have mentioned, I am very tired.
The cool new thing I am working on is hiring non-paid interns to do specific project work for me. It does take some time to organize what exactly you are looking for and pitting the add together, but I have already had two resumes turned in and i just posted on the UW college site. Consider the projects you may have that could give a college student some well needed real-life experience and post away on craig's list or at the local college.It could be the best thing to do for your business.
I'll let you know how it goes and when it goes.
Sunday, July 12, 2009
Friday, July 10, 2009
Growth & Trade Show Q&A
Hey. So I received an email from a fellow mom business owner who is just starting out and wanted to ask me some questions about my experience with trade shows and business growth. Again, these answers are based on my views. I know many other companies with different experiences. Here is the Q & A:
1. How long did it take for you to see sales really pick-up?
Rain or Shine Kids has been in business for 3 years (the first year we made our own product, which was a slow going process). The last year I seen an increase in sales in certain catagories. The economy has drastically affected my boutique sales, but large stores have filled the gap and lead to a more promising 2010. Keep in mind that increased sales means increased cost of doing business. You may have this monthly amount in your head that you need to bring in to allow you to quit your job but do keep in mind that there are many fees and manufacturing/marketing costs that go along with success and that monthly sales amount may have to be readjusted.
And, what, in your opinion, were the things that most positively affected your sales growth? Some of the things that affected my sales the most were also the things that raised my monthly cost of doing business. It was a big step for me to use a distribution center to mail all my products. It saves me an amazing amount of time and is necessary for my business now (you can also hire people to pack and ship your products, but I did not want to manage that department) but it is a new expense to occur. When I work with Big Box stores like Target.com (and I am working on a gift set for Costco.com) which dramatically increase sales opportunities, there is always a large set-up fee. Each store uses a company for to accommodate their system for shipping, invoicing and tracking inventory. Target.com uses EDI (and there are numerous companies that provide that service), Costco.com uses Commerce Hub, etc. Each of these companies charge around $1500 for a se up fee an then charge for each transaction. ALthough they are necessary for growth, it costs into that monthly sales figure. Also, Sales Reps (good ones) can dramatically affect sales, and as a mom who works they would be essential for your national growth.
2. I will be attending the Baby Show NYC in October. It's my first tradeshow ever, and I really want to make the most of it. I read a number of your entries on tradeshows, but I'm curious what you found to be the most helpful, and conversely, what you found to be the biggest waste of time? The less complicated the better for your booth. Try to keep it simple and easy for buyers to view your product. It is better to have 1 or 2 excellent quality posters than 3-4 okay ones. I would put your time into preparing professional looking marketing materials (your catalog handouts, posters, and a press kit for the press room - I woul prioritize your other marketing materials first though) and less time on the little details that a busy buyer would overlook. It is very easy to get lost in the little details. Also, consider having a candy dish or some source of sustanence for the buyers is a good thing.
3. I am clearly learning as I go along, but I'd like to bring effective materials to the tradeshow - do you have any suggestions on what I should prepare to bring with me? I covered most of this above. A clear way for the buyers to view your product is most helpful. Also, did you bring any inventory to sell at the shows or did you have anyone place orders with you right there at the tradeshow? I sold samples at the end of the show to people at wholesale. I did not bring along extra product and there were only a few sales. Most orders I get from tradeshow are placed at the shows. Rarely orders sent to me later, but that's my company. How did you handle that? Have order forms on hand with prices, etc. It is also good to offer a trade show specal...10% off or a lower fixed price per piece, something like that. The buyer will sit down with you to put the order together. It is good to have a few packages put together so they don't have to think to much (they are seeing a lot of people), a good, better, best choice where you have already combined the products for them in three different quantity levels and you can attach a discount to each of these levels increasing the discount in the larger "best" package..."best" pertains to the best deal they wll get on your products if they order this amount. Does that make sense? Decide how you are going to ship the product for buyers and place that on the order sheet, along with how they need to pay for the product...will you give them net 30 (30 days to pay the bill), take their credit card number at the show (many will have you call when ready to ship for the number), etc. Make sure you have a copy of the order to give the buyer or you can ask if the would like it emailed to them.
4. Finally, if there is one piece of advice you can share to boost my business, what would it be? I'm all ears!
The one piece of advice I would give is to find sale reps. Knowing your situation (mom & working) you need help spreading the word and a good sale rep group will do that for you. You will need to be organized to work with them...have marketing material they can use (using a sumo-postcard work well for a first catalog) and have a price sheet available.
1. How long did it take for you to see sales really pick-up?
Rain or Shine Kids has been in business for 3 years (the first year we made our own product, which was a slow going process). The last year I seen an increase in sales in certain catagories. The economy has drastically affected my boutique sales, but large stores have filled the gap and lead to a more promising 2010. Keep in mind that increased sales means increased cost of doing business. You may have this monthly amount in your head that you need to bring in to allow you to quit your job but do keep in mind that there are many fees and manufacturing/marketing costs that go along with success and that monthly sales amount may have to be readjusted.
And, what, in your opinion, were the things that most positively affected your sales growth? Some of the things that affected my sales the most were also the things that raised my monthly cost of doing business. It was a big step for me to use a distribution center to mail all my products. It saves me an amazing amount of time and is necessary for my business now (you can also hire people to pack and ship your products, but I did not want to manage that department) but it is a new expense to occur. When I work with Big Box stores like Target.com (and I am working on a gift set for Costco.com) which dramatically increase sales opportunities, there is always a large set-up fee. Each store uses a company for to accommodate their system for shipping, invoicing and tracking inventory. Target.com uses EDI (and there are numerous companies that provide that service), Costco.com uses Commerce Hub, etc. Each of these companies charge around $1500 for a se up fee an then charge for each transaction. ALthough they are necessary for growth, it costs into that monthly sales figure. Also, Sales Reps (good ones) can dramatically affect sales, and as a mom who works they would be essential for your national growth.
2. I will be attending the Baby Show NYC in October. It's my first tradeshow ever, and I really want to make the most of it. I read a number of your entries on tradeshows, but I'm curious what you found to be the most helpful, and conversely, what you found to be the biggest waste of time? The less complicated the better for your booth. Try to keep it simple and easy for buyers to view your product. It is better to have 1 or 2 excellent quality posters than 3-4 okay ones. I would put your time into preparing professional looking marketing materials (your catalog handouts, posters, and a press kit for the press room - I woul prioritize your other marketing materials first though) and less time on the little details that a busy buyer would overlook. It is very easy to get lost in the little details. Also, consider having a candy dish or some source of sustanence for the buyers is a good thing.
3. I am clearly learning as I go along, but I'd like to bring effective materials to the tradeshow - do you have any suggestions on what I should prepare to bring with me? I covered most of this above. A clear way for the buyers to view your product is most helpful. Also, did you bring any inventory to sell at the shows or did you have anyone place orders with you right there at the tradeshow? I sold samples at the end of the show to people at wholesale. I did not bring along extra product and there were only a few sales. Most orders I get from tradeshow are placed at the shows. Rarely orders sent to me later, but that's my company. How did you handle that? Have order forms on hand with prices, etc. It is also good to offer a trade show specal...10% off or a lower fixed price per piece, something like that. The buyer will sit down with you to put the order together. It is good to have a few packages put together so they don't have to think to much (they are seeing a lot of people), a good, better, best choice where you have already combined the products for them in three different quantity levels and you can attach a discount to each of these levels increasing the discount in the larger "best" package..."best" pertains to the best deal they wll get on your products if they order this amount. Does that make sense? Decide how you are going to ship the product for buyers and place that on the order sheet, along with how they need to pay for the product...will you give them net 30 (30 days to pay the bill), take their credit card number at the show (many will have you call when ready to ship for the number), etc. Make sure you have a copy of the order to give the buyer or you can ask if the would like it emailed to them.
4. Finally, if there is one piece of advice you can share to boost my business, what would it be? I'm all ears!
The one piece of advice I would give is to find sale reps. Knowing your situation (mom & working) you need help spreading the word and a good sale rep group will do that for you. You will need to be organized to work with them...have marketing material they can use (using a sumo-postcard work well for a first catalog) and have a price sheet available.
Wednesday, July 8, 2009
Whoa! Time Flies!
I can't believe it's been 7 months since I've blogged. Crap. I had wanted to write at least 4 times a week. Sometimes you just have to let a few things go for the greater good of your sanity...I mean business:)
BabyLegs, LLC. was acquired by a NYC company and I was laid off April 1st. Almost the entire Seattle office was dissolved except for the individuals that are needed to keep business moving forward. They have a good core group still hanging in there. I am very happy to have had all the experiences my job there has given me. I learned an amazing amount about the children's industry, manufacturing, how I want to run my business, and relationships in general. I made some very good friends and business connections, and again am so grateful to have had my position as BabyLegs Business Dev Manager for almost two years.
Here is what I did not really realize, working at BL while I was trying to grow my own business and take care of my girls was making my crazy. I was always concerned about doing good work for BL and putting my company on the back burner. I knew if I tried to hard to grow and succeeded there would not be enough hours in the day for me to do all the work. Even hiring contract workers takes time and effort to manage. I would not be able to handle that load, take care of myself, and be the mom I want to be.
Since I am able to focus on my own business I have lots of exciting things happening. I am working with Costco.com on a Rain or Shine Kids gift set...don't worry, all-weather WooBee blankets will not be offered. The set will be a 'B' blanket with a matching WooBee bib & burp. There are also some other large balls up in the air that could mean big things for RoSks, but I never get to excited until I see the money in my account.
I just signed a New Zealand distributor and Rain or Shine Kids will be represented at the huge CMB Expo in Shanghai at the end of this month. I am working with a great guy named Andrew French on expanding business in Asia. If you are interested in doing the same checkout Andy's site www.asiamtm.com. Let him know Heather sent you:) Look for a new all weather WooBee Asian influenced gift set for the holidays - it's launching in Shanghai.
Gotta get some sleep. I'm Tweeting now...kind of. @Rosks .
BabyLegs, LLC. was acquired by a NYC company and I was laid off April 1st. Almost the entire Seattle office was dissolved except for the individuals that are needed to keep business moving forward. They have a good core group still hanging in there. I am very happy to have had all the experiences my job there has given me. I learned an amazing amount about the children's industry, manufacturing, how I want to run my business, and relationships in general. I made some very good friends and business connections, and again am so grateful to have had my position as BabyLegs Business Dev Manager for almost two years.
Here is what I did not really realize, working at BL while I was trying to grow my own business and take care of my girls was making my crazy. I was always concerned about doing good work for BL and putting my company on the back burner. I knew if I tried to hard to grow and succeeded there would not be enough hours in the day for me to do all the work. Even hiring contract workers takes time and effort to manage. I would not be able to handle that load, take care of myself, and be the mom I want to be.
Since I am able to focus on my own business I have lots of exciting things happening. I am working with Costco.com on a Rain or Shine Kids gift set...don't worry, all-weather WooBee blankets will not be offered. The set will be a 'B' blanket with a matching WooBee bib & burp. There are also some other large balls up in the air that could mean big things for RoSks, but I never get to excited until I see the money in my account.
I just signed a New Zealand distributor and Rain or Shine Kids will be represented at the huge CMB Expo in Shanghai at the end of this month. I am working with a great guy named Andrew French on expanding business in Asia. If you are interested in doing the same checkout Andy's site www.asiamtm.com. Let him know Heather sent you:) Look for a new all weather WooBee Asian influenced gift set for the holidays - it's launching in Shanghai.
Gotta get some sleep. I'm Tweeting now...kind of. @Rosks .
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