$100 Challenge
I have been slow this week keeping up with my end of the bargain. I promised once items were dropped off that I would get them online within 24 hours, well, broke my end of the deal. But today I spent 3 1/2 hours getting everything updated, pictures taken, and online. I have over 10 items and two of them are antique sewing machines. This is exciting. I hope the selling goes fast.
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Yahoo - today I sold my first item. $40 but with the sale price I get only $8. So that sent me to my next project that I should have had more established - accounting. All transactions are done in cash so I decided to get a letter size file box with envelopes in it. In that envelope will go the cash and the receipt with the amount sold and what is owed the client and what is owed Kiva. I will also need an envelope with change in it since most people pay in 20s.
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another Yahoo - I sold another great item. Well money is not in hand yet but she is mailing it to me and will pick the item up when she comes to Oregon next month. We will see if I get stung.
Another thought of the business. How do I keep these items at the top of the lst without recreating whole new listings. Craigslist has made it very difficult to easily keep it at the top of the list.
The weekend is coming up so I need to do something to get it out in the public more easily.
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Researched today other avenues to post the ads. Came up with a whole list. About 7 so I will be exploring those ideas.
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Found some new avenues to sell the goods. Unfortunately it takes a long time to get them on. Is my time really worth it? One of my favorite pourtlandfreeclassifieds. As I search out these other web pages I realize these are entrepreneurs who think they can do better or fill in some sort of a gap for selling items online.
What I have learned this week:
I loved the story of Phil Romano but one thing has really stuck out in my mind in all of the entrepreneurs we have learned about, at least the ones that have done massive good with their money in the end. They seem to have some sort of an awakening where they get sick and then realize money is not everything and now they go out and try to do good with their money.
Basically Phil has started a lot of restaurants including the one I love Fuddruckers. H says to be different and have a point different and that is what he did with Fuddruckers. He has the butcher right on sight and makes homemade buns. No wonder they are so good. I also like his advice on service and customers. Service and a need prompts good business. Don't think about making profit but pleasing the customer. Fear is a great motivator. If it does not feel good to him then it won't feel good to the customer.
Marketing Overview
I learned a lot about marketing and research and development. I had no idea there was so much to it.
Some key things to remember
Keep up with the market, always be developing something new then test it out
Give what the consumer needs or wants
Define your target market and their buying habits
My very first sewing machine was a Singer. My mother talked me into buying it and it was a piece of crap. Years later I bought a different brand and loved it, then it eventually wore out. When I went and bought a new one a couple of years ago the salesman talked me into a Singer saying they were new and improved and some new CEO was bringing it back to life. His mother had one many years before and he grew up with a love for the name. blah blah blah. Guess what. A piece of crap. So they did not learn from their mistakes.
This weeks lesson has made me hungry for hamburgers and makes me want to sew. haha
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