Wednesday, May 30, 2007

Resarch the Market

OK. I need to start this one off with a little anecdote; its is such a funny "Me Too Kid" story.

Dawn from Michigan wrote me an email the other day with her "me too kid" story. Tell me what you think. "I have 3 boys. It was time to get to soccer practice. The oldest gets himself dressed & into the car. The 2nd, gets dressed, gets the ball & into the car. The 3rd (my ultimate me too kid), grabs his juicebox & crackers. He knows he's gonna be a while & needs to be sure there's some provisions!" A new twist to the latch-key kid. Its a to-go kid generation.

On to researching the market.
OK. The concept is good. You have an idea how to produce it. Now, where do you sell it? Its a little trickier than walking into the local merchant and taking a long time to tell them who you are, what you have done & would they like to buy it? BUT, by all means do that. WHY? It'll boost your confidence, you'll get a sale (likely) and they'll recommend to you where to go (which market) you could be an exhibitor at to sell in. Once you learn of the trade market, google it, & you'll see what other similar markets exists.

I strongly recommending attending the market only as a visitor at first. They can be daunting & overwhelming. You need to experience that buzz. Its a lot of fun & will surely inspire you. The reps there will fill your head with the huge numbers of attendees. You're seeing $$$ signs. BUT, don't be fooled, like me. There is so much work that goes into the pre-selling of your product. Stuff I had no idea about. Mailing lists, press kits, promotional give-aways, appointments, shipping, booth setup, signs, banner, oh my gosh , the list is endless. I would be happy to help anyone who is interested in what I have learned the hard way. Contact me & we'll chat.

Additionally, google the internet to get statistics on your product, industry, and trade reports too. Your local small business office may be of some assistance, but if its anyhting like our small town, take it for face value & go back to the internet. Again, this list is endless.

This is a reality check. This is very hard core. You need the number of widgets (like yours) that are sold, the potential # of persons who currently buy a similar thing, take 5% or less of that number & that's where you start. That's generous too. This is where the writing MUST BE put on the wall.

Tomorrow write it down.
Don't forget....send me a Me Too Kid story.
Lynne

Parents blogs

Thursday, May 24, 2007

Trade exports

I talked a little about tradeshows & selling to different markets. Remember its important that you find your niche, exploit it & then try selling internationally. the easiest way that I found this to happen was by using the services of the department of commerce. Here in SC, we have a fantastic trade export consortium that coordinates trade missions for small businesses like mine & yours. Thru a uniquely combined effort, the South Carolina's US Dept of Commerce (feds), and the State of SC Export office, the Export consortium of USC and, the SC World Trade Center all bring together & work collaboratively in creating effective communication, trade missions and business partners for international business. This is for any business; someone very small like me or a large, well established company. I would highly recommend utilizing these offices in your own state not only because they are effective, but they are an extension of you and can help create sales.

As a matter of fact, the return on investment for me to attend one of these trade missions was more profitable than some of the "best & biggest" US tradeshows that I have been sorely disappointed in.

If you want to be global, a route utilizing the US Dept of Commerce & their affiliates is the way to go. Here is a link I would recommend you start with.
Lynne
http://www.sccommerce.com/

Parents blogs

Wednesday, May 9, 2007

Funnier in my head

Me too kid story
There are so many times when I experience something, I want to blurt out a response, but don't. I suppose its because my mom raised me to be polite, speak when spoken to, and respect your elders. Well I have to admit, most of the time I do follow these rules, but every once in a while I blurt something out. I may catch the person(s) off guard & make them a little surprised. So I'm working on the blurting thing. I do think that this also has something to do with the fact that I am the 4th of 5 children. If you wanted to be heard in my family, you had to talk fast & loud.

To help me overcome this "issue" of mine, I started realizing that when I am recounting a simple story or situation that occurred in my home (I have 2 little girls {8 & 10}, a husband, 2 girl dogs, 2 girl cats & do not forget the occassional turtle, lizard, tree frog, crawfish, palmetto bug (more on those at a later time)) the truth is, I recall that the story was WAY funnier in my head. But why don't I/we see that humor when it immediately happens? Who knows. But rest assured I like this new dimension of mine.

Let me give you a quick example & maybe some of you can share a thing or too here.

My daughter (10 year old) was with me doing some random errands. We of course had the dogs because well because they're Sallie & Suzie & like most dogs - they really enjoy that wind in their face & tongue hanging 2 miles back behind the car. It so happened that at the store we were at there were also some turkey vultures (no really) & ducks & what I think some new baby duckling-vultures. Cute now, but we'll see. Anyway, my daughter decides to take Sallie & Suzie with her to look at them; against my advice. Well needless to say, she was towed by the dogs, on her backend in a sled-like position sans the sled & sans snow. The dumb ducks stood & watched & soon feathers were everywhere. Its the classic "slip on the banna" spill. Of course, I went to help but not without giggling.

The replay of this in my head is too funny, and I didn't blurt anything out :)

Send me your replays.

L