I've started selling when i was in college ( I actually sale Load) and since then it becomes a part of me. So when i came to Qatar at the age of 22 selling has comes naturally to me. Selling give me dopamine, i got energy that make me feel alive. I sold various products online some of them becomes very successful that up to now i am fun of selling (i.e handmade products) and other was a huge failure. But what really i have learn being a business owner? allow me to share my business lesson below, with the hope that may you all learn from my experience too.
1. Choose a name
Although the name of my shop (BbQatar Kollections) was OK but if ever i would have choose more better name that is easily remember and more sophisticated with few letters. I would really suggest that business owner should spend great time to think about their shop name because changing it would be difficult specially if the shop has been running for few years now.
2. Focus on one (few) lined items
At 1st few years we really don't know what to sell, we follow the trends and end up selling whatever we see that is trendy and sell it by putting price mark up. The problem with this is people would not know what our shop specialty, it become a place of many random items and it really tiring because we end up having so many stands for so many items and our table end up to messy and clutter. Bazaar events was so tiring for us because we need to bring alot of things to set up.
It took us few years before we realize what really works for us and that is handcraft items from Mindanao, after focusing on this items our e-shop becomes known for handcrafts items from Mindanao, Philippines and it also help us lessen the stand we need, bazaar events becomes more smooth and relaxing as we can fit everything in just two bag.
3. Follow trends
Following trends is so costly, i remember the time when the Kylie Cosmetics and Colourpop is the talk of the town and everyone is looking for it. I invite someone else to invest on us in this products, the products sales good at few weeks but after that the product become a miss. Instead of earning we end up having so many un-sold items. An experience that was really charge to experience and would not do it again.
4. Re-Seller
In business collaboration is very essentials but then doing our homework by researching the pros and cons would help us arrive into a more beneficial collaboration. As we went to more bazaar events and gain audience i have observe that some offer us to sell their items on commission basis, I remember a lady who owns a very heavy dress and want us to sell her, items wont fit in my car but i insist it, it was really a mess and very tiring, the gown almost took all the space we have for the event and fixing to displaying it is very tiring.
There are also some people who give their items to us and because she was our friend we never ask or talk specifically for commission, at the end of the day after selling her items she only give us 10 QAR commission! Not considering the event we went too has huge table fee, After that experience i never sell someone else items again! NEVER!
5. Incorporating multi level marketing into your own business
Having your own business give you freedom, you can design as you wish, sale as you wish. But putting a products governs by multi level marketing scheme is a head ache. They have law and protocols that changes from time to time and its always up to them and this is really stressful so better to avoid this and putting on your own business, or if you want to do it have a dedicated page for it, so your own business wont be affected.
6. Invest in proper stand
We often walk around during bazaar and we see so many seller who has a very good presentations, we often end up scouting for good stand to our shop and we often end up having so many stand yet after setting up our own table we realize that this stand is not for us, that sometimes is just good for other items, or many they broke easily and we end up wasting our money.
Many times the stand that we need are customized, in our case since we are selling bracelet we just need PVC pipe from the hardware, its strong and we really save money, the PVC we used last for many years and it never becomes out of style still the display pipe will use in the future when things gets better.
7. Do not expand too quickly
Perhaps because i am on my early 20's when i get serious about selling so i am a bit aggressive and would jump easily to expansions. A friend invite us to share a space rental in souq, as glitters as it was because hey my e-shop will have its space, they shop owner promise to promote and advertise us and end up that our social network has more followers than them, this decision is really bad, the place where the shop was located do not have much people so customer is very less. We end up spending money for new stand to fit the shop image, pay rent and earn nothing.
We really learn so much and its all charge to experience and would do our homework before doing this again.
8. Join Events
Although we are just e-shop based in Qatar but many institutions has give us opportunity to join Bazaar and i am really thankful for each and everyone who welcome us to display our items with them. Joining events would really help you to reach many people and bigger audience. I hope that pandemic will end so we can join events again.
In joining events also you need to consider the events payments, sale and your previous experience by noting this points will help you evaluate your performance and if you wish to join for same event again next time.
9. Inventory & Savings
Perhaps this is one of the biggest regret i have. I can say that i earn quite enough from my business alone, however i end up not having a good inventory and savings, that i end up broke.
I buys so many items for the shop (specially stands and packaging) that i end up broke. After doing correct inventory of our earnings and spending i was able to see the correct allocation of our money and it help me save and earn good amount. I refrain from buying un-necessary things for the shop too. Not unless it is highly necessary and often times i do need to buy i see to it is something that we will use multiple times and it is quality product that doesn't break easily.
10. Evaluation
We become too passionate with what we are doing, yes we enjoy it, but for me following your passion while incorporating business should be done at your advantage that is why evaluations would always be necessary.
I never had evaluation till 2018 that makes me lost alo't instead of gain much although we are earning and having a good sale simply because the more we earn the bigger we spend for the business.
11. Adaptation
Covid 19 has change the game. Before when you say "we are just e-shop" at times customer turn down us simply because they are not used to shop who do not have proper place. In 2020 we stop all bazaar as early as February 2020 because of pandemic. I can see that many people are worried about their items not being sold and ect...
But the lockdown has give me edge in the sense that i can do many things online.
Yes, we stop bazaar and our items remains to be un-sold because our items are not the basic needs, instead of pushing to sale it on a lower price, i give it a rest, stored my items properly and turn myself into selling digital designs on various website like pinterest ect.... By doing this my e-shop still run although in another form, still keeps me busy and am earning more of what i earn from traditional business which is selling the physical items, i hope to improve more on digital designs because i know that this sideline is very profitable and you can do anywhere as long as you have internet connections. You will also save time and energy in delivery coz everything is done online and people pay you directly, added to that is one design can be sold million times!
So what have you learn as business owners?
