I`ve been thinking about creating this thread for awhile now, but just couldnt get around to doing it.
Long story short I`ve had a hobby making cosmetics since 2018. Lip balm, face oils, lotions, creams, stuff like that.
Initially it started because my spouse couldnt find a proper lip balm so I decided to research how to make them and what ingredients to use to make them really high quality.
Fast forward to october 2022 and I might have the beginigns of a business on my hands.
In the following posts I`ll extract information from another execution thread in the INSIDERS forum. Said thread was about my e-commerce SaaS business and trying to sell subscriptions for it. One of the ways I tried selling subscriptions was going to bazar events in my country to meet people and offer them my e-commerce services.
On the bazaar events I was selling the cosmetics products I was making.
So sort of like two birds with one stone thing.
Time to set some goals.
1. Find a contract a producer of cosmetics.
I`ve already found some, but still no one I can do work with.
Initially I thought I can rent a small space, cover the law requirments and start making it myself, but since I`m in eastern Europe, the upfront cost for rent, certificates, labor, ingridients and so on is so HIGH that I cant justify the cost of making it myself at this point.
Infact in my country Bulgaria, the laws are so hostile to small businesses most cosmetics production is done by 3rd party companies, who make stuff for dozens of brands.
2. Improve my inbound and other marketing strategies.
With a mix of FB groups for homemade products, SEO articles and posts on forums I plan to spread the word for these new products at no cost.
Another way (which I`ve had some success with already) is for my spouse to go around different hairdress and nail salons and just talk to the stylists, who are typically the owners, and leave my products in there for them to sell. ATM we got 2 salons on board selling lip balms.
3. Improve my online presence.
While I`ve been somewhat active, doing posts here and there on my FB group and instagram I see a lot of potential that I can tap into.
I need a plan, what posts to make (seems like having a girl/woman in the photo makes a huge difference) and then set a schdeule for X amount of posts on Y amount of topics/products per month.
4. Do at least 1 bazar event per month.
The next is this december 2022, but I want to do at least one per month, since sales on events are easy, lucrative and fun.
You get to meet new people, network, get random gifts from other people and so on.
Its a great way to get exposure and get direct feedback on what you are doing.
5. Improve the quality of the product info and photos.
This is easy enough. My website and FB page just needs an upgrade for which I can contract a photographer.
6. Ads, Instagram and other social selling channels
I was on a conference earlier this month and I met a company which have an awesome service.
They track down and contract social influencers which then get added to their platform.
As an advertiser of products you have a list of influencers which will make posts about your product if you send it to them for free.
Its easy to use, you create campaigns, send your product, they make a post and thats it, easy ads which reach tens of thousands of people.
This however is reserved for when I have production figured out.
-------------------------------------------
Since I already have a positive response from the market, my goal is to have fully fledged business by the end of january 2023.
Meaning that I must be at point 6 around that time and point 4 has to be figured out.
Now in the next posts I`ll details the journey so far starting from october 2021.
Long story short I`ve had a hobby making cosmetics since 2018. Lip balm, face oils, lotions, creams, stuff like that.
Initially it started because my spouse couldnt find a proper lip balm so I decided to research how to make them and what ingredients to use to make them really high quality.
Fast forward to october 2022 and I might have the beginigns of a business on my hands.
In the following posts I`ll extract information from another execution thread in the INSIDERS forum. Said thread was about my e-commerce SaaS business and trying to sell subscriptions for it. One of the ways I tried selling subscriptions was going to bazar events in my country to meet people and offer them my e-commerce services.
On the bazaar events I was selling the cosmetics products I was making.
So sort of like two birds with one stone thing.
Time to set some goals.
1. Find a contract a producer of cosmetics.
I`ve already found some, but still no one I can do work with.
Initially I thought I can rent a small space, cover the law requirments and start making it myself, but since I`m in eastern Europe, the upfront cost for rent, certificates, labor, ingridients and so on is so HIGH that I cant justify the cost of making it myself at this point.
Infact in my country Bulgaria, the laws are so hostile to small businesses most cosmetics production is done by 3rd party companies, who make stuff for dozens of brands.
2. Improve my inbound and other marketing strategies.
With a mix of FB groups for homemade products, SEO articles and posts on forums I plan to spread the word for these new products at no cost.
Another way (which I`ve had some success with already) is for my spouse to go around different hairdress and nail salons and just talk to the stylists, who are typically the owners, and leave my products in there for them to sell. ATM we got 2 salons on board selling lip balms.
3. Improve my online presence.
While I`ve been somewhat active, doing posts here and there on my FB group and instagram I see a lot of potential that I can tap into.
I need a plan, what posts to make (seems like having a girl/woman in the photo makes a huge difference) and then set a schdeule for X amount of posts on Y amount of topics/products per month.
4. Do at least 1 bazar event per month.
The next is this december 2022, but I want to do at least one per month, since sales on events are easy, lucrative and fun.
You get to meet new people, network, get random gifts from other people and so on.
Its a great way to get exposure and get direct feedback on what you are doing.
5. Improve the quality of the product info and photos.
This is easy enough. My website and FB page just needs an upgrade for which I can contract a photographer.
6. Ads, Instagram and other social selling channels
I was on a conference earlier this month and I met a company which have an awesome service.
They track down and contract social influencers which then get added to their platform.
As an advertiser of products you have a list of influencers which will make posts about your product if you send it to them for free.
Its easy to use, you create campaigns, send your product, they make a post and thats it, easy ads which reach tens of thousands of people.
This however is reserved for when I have production figured out.
-------------------------------------------
Since I already have a positive response from the market, my goal is to have fully fledged business by the end of january 2023.
Meaning that I must be at point 6 around that time and point 4 has to be figured out.
Now in the next posts I`ll details the journey so far starting from october 2021.
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[link to the website - removed since I`m not sure I can share it here]
