Feb
24
2014

Entrepreneur Of The Week: Karen Walker

Meet The Founder Of SwaggerTag

Entrepreneur Of The Week: Karen Walker

Who: Karen Walker, owner of SwaggerTag. SwaggerTags are identification tags that reflect your personality and help you keep track of your gear. By customizing with your own photo, image, or logo, you can let everyone know it’s your stuff. You decide what personal information to include and your SwaggerTag reveals the information only if it is opened. A SwaggerTag is water, weather, and impact resistant, with strong attachment points and ties to ensure it will stay with your gear. 
 
In Business Since: 2010
 
Business Highlights: Karen is hoping the best is yet to come, but she was really psyched when she received her initial inventory. It was a sign that all the things that went into product development came to lifegetting the idea into 3D design and molds, arranging finances, sourcing an overseas manufacturer, arranging patents and trademarks, developing branding and packaging, and everything else that went into it. While Karen understood that she had a lot more to do for success, it was thrilling (and a little terrifying) for her to have her ID tags in hand.
 
Business Question: More than anything else, I could really use a strategic selling plan to help keep me on track and ensure I'm consistently filling my pipeline.
 
Spark’s Insights: Our advice to you would be to schedule time for sales. For each of your sales channels (your web site, brick and mortar stores, online stores) create a list of targeted, specific goals (e.g. get picked up by a specific large store, increase online stores by 15%, etc.) and then plan for how you are going to go after these goals. Next, make a date with yourself to get these plans going and put them in the calendar. Spread them throughout the year and make it a regular activity. Maybe, for example, Fridays are dedicated to sales in general and to following your sales plans specifically. By breaking down the sales process into manageable chunks, and setting aside time to get them done, we think you will find the process easier.
 
Karen’s Advice to Other Entrepreneurs: It's easy to get sidetracked by administrative tasks, but entrepreneurs need to concentrate daily on the all-important job of selling your product. And even though I know this, I still struggle with following my own advice.
 
Want to learn more about creating a sales plan? Look right here.  
 
Want to be our Entrepreneur Of The Week? Check this out.
 
 
Feb
18
2014

Entrepreneur Of The Week: Eileen Fisher

Meet The Founder Of B & R Laundry Soap

Entrepreneur Of The Week: Eileen Fisher

Who: Eileen Fisher, owner of B & R Laundry Soap. B & R Laundry Soap is a bio-degradable, eco-friendly laundry soap hand made in Abbotsford, BC. Each batch is made by hand and sold locally.
 
In business since: 2013
 
Business highlights: Two months after B & R's official "launch," the product was available for sale in a local retail store!
 
Business question: My biggest question right now is about the difference between selling directly at farmer's markets as opposed to retail. Should the price for the consumer be the same, or should we maintain our profit margin to be the same?
 
Spark’s insights: The difference between selling retail (directly to the customer) and wholesale (to a store, which will then sell it to the customer) can be make-or-break for manufacturers. The rule of thumb is that the retail price should be 200% of your cost. So, if you make a product for $5, it should retail for $20. The wholesale price should be a 100% markup — in this case, $10. Many smaller, local manufacturers struggle to compete with mass-produced products on wholesale pricing, and some choose to focus instead on retail sales. However you proceed, make sure every sale is a profitable one.
 
Eileen’s advice to other entrepreneurs: Go with something that you love, trust your gut instincts. Be positive and accept criticism as a challenge.
 
Would you like to be featured as an Entrepreneur of the Week? Answer this brief survey and you might see your own business right here on Yummy Mummy Club. Learn more here
 
Feb
12
2014

Entrepreneur Of The Week: Larissa Stefani

Meet The Founder Of Lloyd & Wolf

Entrepreneur Of The Week: Larissa Stefani

Who: Larissa Stefani, owner of Lloyd & Wolf Couture. Lloyd & Wolf is a Vancouver-based brand of individual handcrafted, limited-run, luxury leather goods. Using the highest quality leathers from Italy, Spain, and the USA, bags are handcrafted in both Spain and Vancouver. Each of the pieces is hand numbered. 
 
In Business Since: 2010
 
Business Highlights: Lloyd & Wolf has received a ton of media support, both locally and across Canada. Their Abi bag was a top five Finalist in the Independent Handbag Designer Awards for 2013 in NYC, for Best Overall Handbag, and the only Canadian contender.
 
Business challenge: Getting retail supportwe'd like to be carried in more storesand brand awareness. While we've had lots of excellent press, we are still relatively unknown.
 
Spark’s Insights: For your business, it may be a matter of pounding the pavement and trying new things until your line "catches." We’d encourage you to develop relationships, not only with store owners and buyers, but also anyone tangentially related to your businessfashion journalists and bloggers, and style influencers. We’d suggest getting your bags seen on the right people, even if you have to give them away in the beginning. And keep at the media. In our experience, press begets pressit’s a more-is-more scenario. People need to have seen something new a staggeringly high number of times before they will begin to recognize it. In short, hang in there!
 
Larissa’s Advice to Other Entrepreneurs: Don't give up. It is very frustrating trying to manage a family and a start-up, but I believe it to be healthy having outside interests and aspirations. Sometimes what seems like a bitter disappointment leads you down a much better path, and you need to keep following it.
 
Would you like to be featured as an Entrepreneur of the Week? Answer this brief survey and you might see your own business right here on Yummy Mummy Club. Learn more here.
 
If you like this, you might also like "Insomnia Might Be a Mompreneur's Best Friend" and "The Mompreneur Paradox."