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********* THANKS A MILLION FOR READING, IF YOU DON'T WANT TO READ THE WHOLE THING, PLEASE JUST READ THE NUMBERED POINTS, AND GIVE ME POINTERS IF YOU COULD, THANKS IN ADVANCE 
**********
Hey everyone. Hope coronavirus is treating you well.
As my exam was postponed, I don't have time to go full speed on this yet, but I do have a plan outlined.
As a doctor who studied an additional diploma in Dermatology (I'm not a Dermatologist), I see holes and problems in some products on offer in the market today.
I want to patch those holes. I *know* how competitive the skincare market is, but I do believe I have a different 'angle'.
Combined with my own clinical experience & evidence-based medicine, I believe I'll be able to come up with a convincing campaign.
How the product will sell is a different matter, but it's my dream to make this work, and I'm thinking if one product doesn't work, I'll investigate another until *something* works.
I'm a complete newbie here- no business partners, no entrepreneurial experience, no nothing.
So I kinda want to outline my game plan here and beg all you experienced entrepreneurs here to give me some heads up / potential for improvement / error of my ways etc. (thanks in advance!)
First step is market research.
I've read several good threads on here on this.
The adwords thing seem like a good way to go (thanks Andy Black!)- several things I don't understand though:
1) I tried going on Google trends to explore how many people are searching for my product, and it only shows a number capped by 100, but I think the actual number of people searching are a lot more than that? How do I find that number? And how many do you reckon is high enough for it to be worth it? Any other ideas to do needs research?
2) Somebody advised to look at current ads running on my search, but I only see a bar at the top of google, are those my main competitors, or are they just paid ads? I believe I have something on offer that's different from all of them so that's good.
I already bought a domain (yay). I plan to set up google ads, send traffic to my page where they'll find some info on why they should buy my product (backed by research, and outline of product features). I will give a 50% off offer on the initial launch if they answer a few questions (which will help me determine price, interest etc.) and ask them to leave their email to receive a code of the discount. If I don't get many replies on this, then I'll just have to assume that my idea isn't well-received and abandon ship- correct?
Next step is actually getting the product manufactured.
Two main steps to this: the product itself, and the packaging
3) I remember somebody saying that it's unwise to go to someone who advertises themselves as manufacturing 'private label' (I think it was biophase
). May I know why this is? Will I get ripped off? Since I have no 'connections' in the industry, Google is all I have to go on (good ol' google). If anyone can can connect me with someone / point me in the right direction, I'd be utmost grateful. I do have 'some' idea of what I want in my product (I'm a very avid user of skincare myself, and I have a pretty damn good idea of what products work well and which don't. I have an idea to combine two products together into one, give or take. I'll definitely need someone who has experience in this area to help me with this though, as formulas need to be tested, stabilized etc.
4) Sourcing the packaging is a different animal as well, as I see very *similar* product on the market, but not exactly. If someone can point me in the direction on a manufacturer who does good custom packaging will be much, *much* appreciated!!!
The calculation of costs, and how much people be willing to pay for something like this will be the last go-ahead.
One of the reasons I really want to go with this first idea even if it's not like to be greatly profitable is because................ IT'S SOMETHING I CAN USE MYSELF!
Oh, and how exciting it'll be to own a skincare line and call it YOURS! 😀
5) I'm not sure how these things work, do skincare lines do manufacture on demand, or is it routine that I'll have to buy a large batch upfront?
Lastly.... *drumroll*
I plan to get instagram / youtube.
BUT, being a doctor, I have a lot to lose if something goes wrong, and my name gets dragged in the mud, like affecting employment opportunities, etc. etc.
Yes, I'd LOVE to say I'll NEVER need a boss again, but let's get real, people's first ventures usually don't take off, so I'll still need a job for a while.
I'm Asian, and Asian cultures aren't as open-minded about these things, I just wonder what will happen if I became semi-known, but my ventures fail.
Should I try to launch first, THEN build up my name if it succeeds, or try to build a customer base through off these platforms by offering value and build up anticipation for the product?
Any help for a newbie, is much, *much* appreciated!!!!! <3
p.s. Really want to talk to / connect with anyone here who's had experience in this field. Please don't hesitate to PM me
**********Hey everyone. Hope coronavirus is treating you well.
As my exam was postponed, I don't have time to go full speed on this yet, but I do have a plan outlined.
As a doctor who studied an additional diploma in Dermatology (I'm not a Dermatologist), I see holes and problems in some products on offer in the market today.
I want to patch those holes. I *know* how competitive the skincare market is, but I do believe I have a different 'angle'.
Combined with my own clinical experience & evidence-based medicine, I believe I'll be able to come up with a convincing campaign.
How the product will sell is a different matter, but it's my dream to make this work, and I'm thinking if one product doesn't work, I'll investigate another until *something* works.
I'm a complete newbie here- no business partners, no entrepreneurial experience, no nothing.
So I kinda want to outline my game plan here and beg all you experienced entrepreneurs here to give me some heads up / potential for improvement / error of my ways etc. (thanks in advance!)
First step is market research.
I've read several good threads on here on this.
The adwords thing seem like a good way to go (thanks Andy Black!)- several things I don't understand though:
1) I tried going on Google trends to explore how many people are searching for my product, and it only shows a number capped by 100, but I think the actual number of people searching are a lot more than that? How do I find that number? And how many do you reckon is high enough for it to be worth it? Any other ideas to do needs research?
2) Somebody advised to look at current ads running on my search, but I only see a bar at the top of google, are those my main competitors, or are they just paid ads? I believe I have something on offer that's different from all of them so that's good.
I already bought a domain (yay). I plan to set up google ads, send traffic to my page where they'll find some info on why they should buy my product (backed by research, and outline of product features). I will give a 50% off offer on the initial launch if they answer a few questions (which will help me determine price, interest etc.) and ask them to leave their email to receive a code of the discount. If I don't get many replies on this, then I'll just have to assume that my idea isn't well-received and abandon ship- correct?
Next step is actually getting the product manufactured.
Two main steps to this: the product itself, and the packaging
3) I remember somebody saying that it's unwise to go to someone who advertises themselves as manufacturing 'private label' (I think it was biophase
). May I know why this is? Will I get ripped off? Since I have no 'connections' in the industry, Google is all I have to go on (good ol' google). If anyone can can connect me with someone / point me in the right direction, I'd be utmost grateful. I do have 'some' idea of what I want in my product (I'm a very avid user of skincare myself, and I have a pretty damn good idea of what products work well and which don't. I have an idea to combine two products together into one, give or take. I'll definitely need someone who has experience in this area to help me with this though, as formulas need to be tested, stabilized etc.4) Sourcing the packaging is a different animal as well, as I see very *similar* product on the market, but not exactly. If someone can point me in the direction on a manufacturer who does good custom packaging will be much, *much* appreciated!!!
The calculation of costs, and how much people be willing to pay for something like this will be the last go-ahead.
One of the reasons I really want to go with this first idea even if it's not like to be greatly profitable is because................ IT'S SOMETHING I CAN USE MYSELF!
Oh, and how exciting it'll be to own a skincare line and call it YOURS! 😀
5) I'm not sure how these things work, do skincare lines do manufacture on demand, or is it routine that I'll have to buy a large batch upfront?
Lastly.... *drumroll*
I plan to get instagram / youtube.
BUT, being a doctor, I have a lot to lose if something goes wrong, and my name gets dragged in the mud, like affecting employment opportunities, etc. etc.
Yes, I'd LOVE to say I'll NEVER need a boss again, but let's get real, people's first ventures usually don't take off, so I'll still need a job for a while.
I'm Asian, and Asian cultures aren't as open-minded about these things, I just wonder what will happen if I became semi-known, but my ventures fail.
Should I try to launch first, THEN build up my name if it succeeds, or try to build a customer base through off these platforms by offering value and build up anticipation for the product?
Any help for a newbie, is much, *much* appreciated!!!!! <3
p.s. Really want to talk to / connect with anyone here who's had experience in this field. Please don't hesitate to PM me
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