How do I bring my business idea to life?
Hello community,
I want to start a business selling handmade handkerchiefs in India. The idea that I found unique was to craft handkerchiefs with a fabric which is anti-bacterial and has a mild and fresh fragrance in it. I know a embroidery tailor who takes orders in bulk quantities (he is really good at monogramming letters on textile pieces).
I am thinking of offering handkerchiefs in different fabric options like cotton, linen, satin, silk, etc. with multiple purposes like pocket squares and more. They will all be in different designs and also some very unusual colors to make them attractive and make people buy them.
I need advice on how to take this idea to the market, what do I need to take care of, and is this idea profitable and something I can grow?
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Dec 19, 2019
Hi,
First, I must say this idea is really good. A handkerchief with anti-bacterial is a very good and needed product. I have some suggestions for you on how can you start your business.
1. Research the market. Check your competitions, check your market size. The bigger the competition the bigger the market size.
2. Define your target audience. In terms of who would buy your product and why?
3. Create a business plan. How you will launch, market and manage your product. The best way currently is through an E-commerce website.
4. Work on your marketing plan. How will you educate your targeted audience about your product?
5. Decide the Unique Value Proposition of your product like 100% organic, 100% natural, or Hygienic, etc.
6. Define a delivery model. If you choose an online store as your business model, I will suggest you to think about monthly subscription boxes for your audience. For a fixed price they will get a set of kerchieves at there home. Keep these subscription boxes customizable.
I hope you find it helpful.
Dec 9, 2019
See if they sell first. After that... get a domain name and business license and do a one-sheet with nice pics of our product. Then start an Etsy account and PayPal (or other commerce sites to accept payment). Do Instagram photos of our product and keep selling locally. Then consider selling through etsy.com (don't forget to set up shipping accounts too) until you can create a custom site for yourself.
I know it's a lot. If you believe in our product. You can do it!
Dec 8, 2019
Hey Ashik,
I have been looking forward to someone from my community and yes, I could give you a tip that would fit best to answer your question. You have an approximate value of your expenses of running your business. Your idea seems quite creative and getting it to life will only be possible if you have adequate financial support, you could do two things at this point in time.
The first one is what all others have given to you as advice.
But what I believe you should do is collaborate with a big organization which would provide you with manual labor as it is 'handmade' and you could pose the idea of your 'anti-bacterial and has a mild and fresh fragrance in it'. If you want to deal with it on a small basis, then you could just ask for some funding and make the tailor do the work. What I believe is that if you start a joint venture, even if you are working in the niche market, it will boost up your sales a lot and that is what will satisfy the needs and wants of the customer profitably.
Also, you do not have to worry much about your competition as it is a different thing that you are bringing up and I wish you all the success!
I hope you'll try to implement this and it will work. Best of luck!!!
Dec 4, 2019
Hi Ashik!
What you've described is a niche product - handmade handkerchiefs with a special fabric - that's likely to be difficult to copy or reproduce on a mass scale.
Considering that a significant majority of the 'market' is global and digitized, I strongly recommend establishing your online presence. You can either create a website or an e-commerce application that allows users to see your inventory and place advance orders. You could also manage your business on social media.
The best selection for your business will definitely require market research, and being a bit tech-savvy. If you decide you'd like to pursue the online route and establish a website or application, feel free to reach out. I'd love to help.
Hope this answers your question. Good luck!
Nov 30, 2019
Hi Ashik,
I wouldn't know the idea you're talking bout unless you tell us. But since we are members of a business community, I'm assuming you're referring to a business idea. That said, there are many ways to grow your business idea. The first thing to do is to evaluate the relevant market to see how your idea aligns with the industry.
Investigate the niche market that relates to your idea. Define the problem consumers are dealing with and how your startup ideas can better handle it. Look for loopholes - issues the industry is not addressing and device strategies that'll enable you to fill up the gap.
Gathering these data includes performing competitive analysis and market survey. Then put your results together in and arrange them according to topics. The comprehensive information will help you improve your ideas and grow a sustainable business.
Nov 30, 2019
Hi Ashik,
I wouldn't know the idea you're talking bout unless you tell us. But since we are members of a business community, I'm assuming you're referring to a business idea. That said, there are many ways to grow your business idea. The first thing to do is to evaluate the relevant market to see how your idea aligns with the industry.
Investigate the niche market that relates to your idea. Define the problem consumers are dealing with and how your startup ideas can better handle it. Look for loopholes - issues the industry is not addressing and device strategies that'll enable you to fill up the gap.
Gathering these data includes performing competitive analysis and market survey. Then put your results together in and arrange them according to topics. The comprehensive information will help you improve your ideas and grow a sustainable business.