The Potential Business You Can Start – Two

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The Potential Business You Can Start - Two
The Potential Business You Can Start - Two

Business is created by an entrepreneur. In the first episode, how can you start a business with an independent event planner. Many people have expressed interest in emailing me after this article published on the site, whether the business can be started or not. My advice to you as a business consultant is- to start any business before deciding whether this business goes with your thoughts, emotions, feelings and future plans. Secondly, whether you have the skills you need in order to do business. If not, then you are planning to achieve those skills. Above all, check if you have a complete business plan and are ready to plan accordingly.

Part Two

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Holiday and occasional gift services

In the previous episode, I wrote about the event planning business. The holidays and occasional gift services will be in this episode. You can do this business entirely at home. If you want to do it a bit larger then you can also do it. If you are artistic and creative and have a desire to be an entrepreneur, then this business is for you. Everybody wants to make happy their beloved person. On the birthday of the son, on Mother’s Day, Eid, anniversary, friend’s day, how much more! Gifts for a son, a gift of a mother, a gift of a man, a friend’s gift, a gift for a neighbor, an office boss or a co-worker, what’s the end?
How difficult it is to do this job. Go to the market, choice gifts, buy a gift box, how much to wear a cover! And if you do this as a professional, then it may be the new entrance to your business. You might think, if you go to shops in our country, then you can find the gift box! But that’s not all. A simple shopkeeper git box and a professional gift box is hugely different. Because of his skill, research and hard work, he can give a new taste to the people.

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How to start?

If you are interested in this business, I think you’ve some ideas on buying, designing, converting, etc. on gift items. You still have to study some of it. You should know, what kind of gifts a person will buy, what kind of gifts to buy on an occasion. Know all types of sources and occasions. It’s good if you start alone. If you learn Adobe Photoshop, you can take your own designs manually. You can upload your own content manually. You can start this business entirely in your home, but you have to take some strategies to sell and market. Start with the store or start home. From the beginning, you will have to keep the options online. My suggestion is to start with a good website and social media site without storing it. Your website will be a 24-hour store. As soon as the business is growing you can expand it. You need the help of your web developer to create a website. More than that, consult a content writer and business consultant before doing this.

At the end of the first term, if the decision is made by this business, the first thing will be to know all about this business. Then create a business plan. If you are studying Creative Design or studying domestic science or fine arts or become a self-employed designer then you will get some additional benefits for starting a business.

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Who is your customer?

Every person can be your customer. But at the beginning, if you think the whole world is your customer, you’ll fall down rapidly. For this, you need to research, set your own market and accordingly you have to plan. Some of your buyers will be a personal buyer and some will be a business buyer. Women will be a big part of the private buyers. They usually buy more gift items. A general customer usually buys gifts for birthday, anniversaries, different days, religious festivals, family parties, etc. You can get long orders from business buyers. Some corporations celebrate birthday, anniversary, promotion and retirement of their employees. Apart from this, gifts are also required for the companies on different occasions. In that case, you can get orders from them all year round. There should be a delivery system for distant customers.

What do you sell

What type of products you’re selling it’s depending on your interested customers. You need to know that active peoples spend their money to buy some gift items. One is that – you can create boxes according to the needs of the buyers and also create a standard gift box. You have to study in both cases. With each box contain your company’s brand, marketing, and future. So think carefully before making them. First, select the section for each gift. It will also help you in inventory management.

How much could it cost?

Cost depending on the size of your businesses. You want to start with 10 thousand takas. But if you start with the store, the capital will need more. However, as small or as large as the company structure is an ideal company. Build a business plan to see how much money you need and how much money you have. Design, planning and mission should be everything. If you start in-house, you will have to use a room as your store, where you can keep a box, gift shop, shelf, packaging and shipping equipment, office equipment. If you have some equipment, such as shelf, table, computer, then the startup cost will be much lower. If you want to reduce startup cost at the beginning you do not need to create a website. However, you can use social media as an alternative to the website. After that, create your own website with business outreach. Your marketing material and gift box supplies must be from the very beginning.

The equipment and materials that will be required

– There should be a workstation where the table for work, equipment for crafting, wrapping paper, sines, and heat gun for packing.
– There must be some shelf for keeping gift-box
– If you start with the store, the cash registers, shopping bags, gift boxes, sales tags, etc. will be required for the store.
– Needs some material packaging and shipping.
– Some office supplies such as computers, land phones, printing machines, cameras etc.
– Gift Box Materials and Other
– The display of the finished product.

Marketing

One of the conditions for business success and expansion is marketing. Even if you do not have the best marketing strategies, the products will remain in the house and will not be sold. That’s why you have to market your business and products. Many business people do not like marketing but if you know the strategy, it will be a fun experience for you.

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Marketing strategies

– All-time keep enough business cards and brochures. Whenever you get to know, distribute it among strangers.
– If you want to work in a specific area, then determine the area and create the targeted customer’s database. Suppose you target one hundred buildings in the area and collect five buildings per week, then your area’s database will be ready in six months. Collect names, addresses, phone numbers and emails. Try connecting with them from the beginning and tell your business.
– Use the 10 rules of marketing. Everyday call or email potential 10 customers, meet 10 people and try to sell to 10 customers.
– If someone sends a customer for your business, send a greeting to the sender.
– Give your business card and brochure with every gift box.
– If any customer is not satisfied with your product then take immediate steps to resolve their problems. – Remember, customer service is the biggest resort of your business.
– Remind the customers of different occasions and special days. Postcard, email or call.
– Use direct marketing strategies so that the customer can marketing your product.

Income and valuation

Income depends on how hard work you can do and how big you want to see your business. If you can start a business successfully and if you spend full time, you can earn up to 3 lakh to 10 lakh takas per year.

Fix price carefully. If you set a very low price, you will lose profit or quality of the product and if you set a high price you will lose the customer. Fix the prices by adding labor cost, product costs, packaging costs, supply costs, sales and marketing costs and all others. Besides the variety of designs, the price of any product may vary depending on the customer’s attraction. Then set price to keep 35 to 40 percent profit. For compensation or more profit you can change the product price.

There are involved many things. Like how to plan a business. How to match design with your branding, how to fix customer service, sales and marketing strategies, what are the techniques to create a business card, brochure, website and social media site, how to create a gift proposition for commercial customers, how to generate leads management and product management etc.

If someone is interested in doing business personally, then create a summary of business plans on one page and send me by email, I will try to help with advice. I usually reply to emails on weekends.

Good luck with your business, good luck to everyone.

AHM Karim: New York, USA Email: za19@outlook.com

To see the previous episode of this article The Potential Business You Can Start

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