1 OR 3 Products When Launching New Fastlane Business

[Nuno da Silva]

Hello,

I will be launching my own fragrance house product in the next few months and would like your opinions if part of fastlane should I try to launch just one product, for example one Perfume or several?

With one perfume I can concentrate on just one product, zoom in into what we are about and push just one idea, product. I can also start faster as I will need less money to do so.

However that brings the disadvantage (particularly being something so personal as perfumes are) to limit the possibility of selling, as if someone tries it and doesn't like it, they will not buy obviously and might potential not come back again when other fragrances are launched.

With several fragrances, the sales possibilities will increase as we have more options, if someone doesn't like one fragrance, they might like the other. However and at the same time the budget is the same so it will have to be spread over 3 products instead of one, there will be less focus in just one fragrance but more of an overall marketing branding. However I would need to wait 9 months to 1 year to do so.

As a fastlane business (either way the business will grow, faster or slowly) which option do you believe to be the best one as a fastlane business model.

Thank you,

 

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[fastlane_dad]

Hello,

I will be launching my own fragrance house product in the next few months and would like your opinions if part of fastlane should I try to launch just one product, for example one Perfume or several?

With one perfume I can concentrate on just one product, zoom in into what we are about and push just one idea, product.

However that brings the disadvantage (particularly being something so personal as perfumes are) to limit the possibility of selling, as if someone tries it and doesn't like it, they will not buy obviously.

With several the sales possibilities will increase as we have more options, if someone doesn't like one fragrance, they might like the other. However and at the same time the budget is the same so it will have to be spread over 3 products instead of one, there will be less focus in just one fragrance but more of an overall marketing branding.

As a fastlane business (either way the business will grow, faster or slowly) which option do you believe to be the best one as a fastlane business model.

Thank you,

There is really no correct answer - and start with where you can start. Something like fragrances are very person to person specific so I can't imagine how it would hurt to have a more diverse selection. Plus it ups your showing / product so now you have a 'line' vs an all in one concentrated product.

Also - this story might not apply to you directly, but we started a new brand last year with one product and are now up to 3. The results are quite fascinating.

You Can't Outsmart Action

Good luck and come back with more questions!

 

[Nuno da Silva]

There is really no correct answer - and start with where you can start. Something like fragrances are very person to person specific so I can't imagine how it would hurt to have a more diverse selection. Plus it ups your showing / product so now you have a 'line' vs an all in one concentrated product.

Also - this story might not apply to you directly, but we started a new brand last year with one product and are now up to 3. The results are quite fascinating.

You Can't Outsmart Action

Good luck and come back with more questions!

Thank you, yes more choices would definitely help and yes it is quite personally as people will like it or not.
However you are also right about starting where I can and above all I don't want to run before walking hence the question. I can start one now or wait 6-9 months and then start all 3 as I would have saved enough for that.
It is true that I would much rather prefer to launch 3 different fragrances in one go then to go one by one as like you said I could launch a line and NOT just one perfume but as you stated you started one product and now are on 3 so certainly didnt do you any harm.
Was this on purpose or just a budget constraint on your part?

 

[Nuno da Silva]

Thank you, yes more choices would definitely help and yes it is quite personally as people will like it or not.
However you are also right about starting where I can and above all I don't want to run before walking hence the question. I can start one now or wait 6-9 months and then start all 3 as I would have saved enough for that.
It is true that I would much rather prefer to launch 3 different fragrances in one go then to go one by one as like you said I could launch a line and NOT just one perfume but as you stated you started one product and now are on 3 so certainly didnt do you any harm.
Was this on purpose or just a budget constraint on your part?

Also I read your thread and yes indeed having your third product sell the most in a way exemplifies the fact that having more than one will obviously give a better palette of options for selling so maybe that might be a better option.

Were all three products for the same line or completely different markets? Perhaps the third sold more as your reputation grew?

 

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[Nuno da Silva]

There is really no correct answer - and start with where you can start. Something like fragrances are very person to person specific so I can't imagine how it would hurt to have a more diverse selection. Plus it ups your showing / product so now you have a 'line' vs an all in one concentrated product.

Also - this story might not apply to you directly, but we started a new brand last year with one product and are now up to 3. The results are quite fascinating.

You Can't Outsmart Action

Good luck and come back with more questions!

I have decided to go for 1 product to start with mainly so that I can start now (well 3 months) as it takes 2, 3 months to create a perfume then to wait for months on end to be able to have enough money to do 3 in one go.

Yes perfumes are very personal so it is true that this decision might make things more difficult in terms of sales as either someone likes it or they don't and I will not have another option for that person to choose. In terms of reviewers and stores to sell might also make it more complicated as they all want more than one product (so a line).

However I think starting with one product outweighs having to wait for months and months before doing anything. This also allows the brand to start spreading the word and ironing out any small issues that a new brand will have.

Any other advice would be welcomed.

 

[BigRomeDawg]

A book that might be helpful - Ready, Fire, Aim

 

[Nuno da Silva]

A book that might be helpful - Ready, Fire, Aim

Thank you, will grab a copy.

 

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[Nuno da Silva]

Thank you, will grab a copy.

A book that might be helpful - Ready, Fire, Aim

Thank you, any pointers or advice on this in the meantime. I already ordered the book yesterday.