Design your own Success!

It is a difficult time we are going through, most of us are facing such a situation for the first time thus is gets even tougher for us to face it. A big chunk of people have lost their jobs, some are trying hard to get another job and some are trying to do something of their own. I have already written an article focusing on job seekers; this time I would like to shed light on people who are trying to do something of their own using Facebook.

There are many options and businesses we are thinking of, but we need to be sure of it because at this moment probably we are not in a position to lose our investments. Some key points that we need to think of and get proper preparation before we launch anything or get involved. Some of us are planning to make small investments on trendy sales items like watches, Sunglasses, a lot of peoples are selling Masks, protective glasses, Face Shield, etc. Some are planning to build their page on Facebook to sell different items like Garment items for Men, Ladies, and Kids.

The question is how prepare are you; have you consider the changing market condition upcoming?

Do we have plans to face a dip in sales and or product line extension?

Which product to sale and why?

Why are you choosing this item?

For how long you plan to sell this item?

So Many questions and you, for the shake of your safely need to have a proper answer to these questions before you start your journey.

Let me explain why do you need to have answers to these questions? Let’s assume that you are selling masks and other safety items. At present, the sales are very satisfying and you are at ease and relaxed. But it’s just about some time and you will see that the demands of your products will fall with a nose drive. We are already observing that peoples have started going out without Mask, probably only health-workers will use face shields and gloves. You have plenty of Mask at stock, how would you clear it? Where do you intend to sell it? The majority of the medical stores have their sources and big medical stores are even purchasing or sourcing masks from China. So you are stuck with the mask you have in stock. Will you be able to afford it? This will not happen if you were prepared if this was well planned and you knew the exit point. However now you need to have another plan to minimize the loss and divert your investment to other sources/products. Now with this example; try to answer the questions mentioned above. Do you think this helps you to plan properly? Do you think if you have had the answers prepared beforehand then this loss would not have happened?

So here what I am referring to is “proper planning”. Below points you may consider while you are planning:

1.      If you are planning to sell on Facebook then you must have a decent idea on how to operate a page on Facebook, dealing with comments and messages, default messages or preparing FAQ, providing contact details, the timeline of your responses, etc.

2.      When you are thinking of investing in a product simultaneously do consider alternatives products and probable product line extension.

3.      You need to decide when your second product line will be introduced.

4.      You need to decide when you will stop storing/stocking your first item.

5.      You need to plan on what are the scenario that you will consider while taking a call on stopping first item sales like when your sales are dawn by 30% from average sales then it’s a symptom that you should stop stocking.

6.      What are your extension products? And Why did you choose it? We should understand that people would hesitate to buy Face Mask from you if you were selling spices before!

7.      Do you have a product theme while you are extending your product line? Like you used to sell ladies sharees and if your product extensions are ladies three-pieces or hijab or burka or even kids dress then it’s all right but don’t shift to selling nuts or honey.

8.      How do you decide on the price? Too costly? People would not but it. Again too cheap; then also people would not buy it.

9.      Have you decided on the delivery system? Whom did you choose and why? Hope you do understand that your money will be with them for a week or fortnightly.

10.  Please do consider to keep multiple sources to arrange your products to be on that safe side.

These points will not be all that you need to consider but I believe this will at list help you and guide you to plan better to run your business successfully and for a long time.