HOW MANY PRODUCTS DO I NEED TO START WITH? |BNM #3|

HOW MANY PRODUCTS DO I NEED TO START WITH? |BNM #3|

HOW MANY PRODUCTS DO I NEED TO START WITH?

 

Deciding on the number of products you need to start your business with is a necessary yet difficult question to answer especially for a start-up brand. Ever heard the saying “Variety is the Spice of Life”. Do you agree?

Okay before you answer, let me ask you another question.

 

Would you rather start your business with a single product or with multiple products and market all at once?

 

To answer this question, irrespective of the industry you are in, you need to consider all that goes into managing your business. Creating the product is just a piece of the puzzle, you have to think about the following;

⇒ Marketing

⇒ Funding

⇒ Target Audience

⇒ Operations

as well as every other aspect of the business.

In as much as you think you have all the resources to start with multiple products, market, and manage it well, then all good. If otherwise, I will advise you to start with a single product and create variations of it.

Okay so in this episode, I shared my opinion on these questions with instances from running my own business.

There really is no right or wrong answer, everything just depends on your capacity. 

 

Click the video below to know my thoughts and the instances I discussed.

 

 

Share your thoughts in the comment section.

Would you like to dive deeper into how this works, Subscribe to our YouTube Channel, enable notification to never miss a video!!!

 

Business Nugget By Martwayne

 

A podcast series of short entrepreneurship tips that will help kickstart or grow your business and help you on your entrepreneurship journey. Each episode is created to help you turn your passion to profit and into a viable business.

If you will like to dive deeper into how this works, Subscribe to our YouTube Channel, enable notification to never miss a video!!!

 

<<<<<<<PREVIOUS EPISODE

CELEBRATE YOUR SUCCESS (How &#038; Why) |BNM #2|

 

>>>>>>> NEXT EPISODES

HOW TO FIND NEW CUSTOMERS AND INCREASE SALES: Without Spending Much Money |BNM #4|

HOW TO GET CUSTOMERS TO FIND YOU |BNM #5|

CELEBRATE YOUR SUCCESS (How & Why) |BNM #2|

CELEBRATE YOUR SUCCESS (How & Why) |BNM #2|

Business Tips: How To Celebrate Your Success

 

Do you take some time to celebrate your little successes? Or you are too busy thinking about all the tasks you need to complete?

Sometimes you feel overwhelmed by the thought of the tasks you have not done and then forget to even recognize the success of the ones you have accomplished.

And you make comments like: “ Gosh! Where am I supposed to start from? ”

Or you even begin, yet you feel you have not done anything…..If this sounds like you, then keep reading!

 

In this episode, I shared;

 

⇒ How I deal with such feelings in business and personal life.

⇒ How to see the task from a different perspective.

⇒ How you can recognize how much you have done. 

⇒ How to celebrate your little wins.

 

Excited about this? Click the video below to Listen–————–

 

Let me know which of these tips you will apply first.

 

 Business Nugget By Martwayne

 

A podcast series of short entrepreneurship tips that will help kickstart or grow your business and help you on your entrepreneurship journey. Each episode is created to help you turn your passion to profit and into a viable business.

If you will like to dive deeper into how this works, Subscribe to our YouTube Channel, enable notification to never miss a video!!!

 

<<<<<<<PREVIOUS EPISODE

OVERCOME FEAR IN YOUR BUSINESS (Business Podcast) |BNM#1|

 

>>>>>>> NEXT EPISODES

HOW MANY PRODUCTS DO I NEED TO START WITH? |BNM #3|

HOW TO FIND NEW CUSTOMERS AND INCREASE SALES: Without Spending Much Money |BNM #4|

HOW TO OVERCOME FEAR OF FAILURE

HOW TO OVERCOME FEAR OF FAILURE

How Do You Overcome Fear In Your Business?

 

When I first decided to quit my job for Fashion school in a country where I knew no one, I had no idea of how it would work. I had my fears and worries. However, I was able to overcome my fears. They could not hold me back!!!!

and that’s the exact point I am driving at!

So if you have ever been scared about starting a business. Given up on taking up a new project. Or letting go in the middle of a project…..

Perhaps at some point in your life, you had to “say no” to a decision you needed to make due to fear.

If you are this person, this podcast is for you!

I have also been there so I can relate perfectly!!!

In this first episode of the Business Nuggets by Martwayne, I shared some examples of fears people might have faced in their businesses or personal lives and how to overcome those fears.

By asking yourself just two questions and answering them sincerely. Trust me, you will begin to challenge fear from a different perspective.

 

Interested in questions? Click the video below to Listen——————–


Take note, these were the same questions I asked myself. Hence, the more you ask yourself, the easier it will be for you to overcome fear.

How else do you deal with fear in your business? Share with us!

 

Business Nuggets by Martwayne

A podcast series of short entrepreneurship tips that will help you kickstart or grow your business and help you on your entrepreneurship journey. Each episode is created to help you turn your passion to profit and into a viable business.

 

Recommended Resources

 

CELEBRATE YOUR SUCCESS (How & Why) |BNM #2|

HOW MANY PRODUCTS DO I NEED TO START WITH? |BNM #3|

HOW TO FIND NEW CUSTOMERS AND INCREASE SALES: Without Spending Much Money |BNM #4|

 

 

HOW TO INCREASE PROFITABILITY IN BUSINESS; 2021

HOW TO INCREASE PROFITABILITY IN BUSINESS; 2021

4 Changes You Need to Make To Make To Increase Profitability In our Business

There is no doubt that creating and increasing the profitability of your business can be challenging at times. Even when you dedicate full-time effort. Sometimes you get to a point where you are making no progress at all.

 But the honest truth is that if you want things to change, you have to make changes, according to Tope Williams Adewunmi, Fashion Professional and Founder of Martwayne, a Training and Consulting Outfit that helps Individuals and business owners turn their passion to profit and a viable business.

Here Are Some Changes You Need To Make In Your Business To Increase Profitability

STOP PLANNING, TAKE ACTIONS

The starting point of many great businesses started from having an idea and backing it up with appropriate actions. Too many entrepreneurs set out plans on how to start and manage their business, marketing strategies and even plan the funding. Sadly, some get overwhelmed with the planning or able to see the end results but fizzle out without even making a move towards this goal.

It is one thing to be aware of the changes you need to increase profitability in your business, it is another thing to act on it. So how exactly do you avoid fizzing out? It’s quite simple! 

Just do it! Yeah, don’t overthink it. Do the necessary research, map out your steps, break them into milestones and take it one step at a time. The first step usually seems like the hardest, once you make the move, you begin to have a sense of fulfillment, at this point your “Why” becomes your motivation. 

LEARN MORE

Even experienced entrepreneurs do not relent in acquiring knowledge. They keep learning so as to evolve and make more profits. To make more profit, you need to learn more. Technology is advancing every day, new innovations and techniques are developed. The only way to stay abreast is to be curious enough to want to learn more. 

Never be satisfied with the little profits you have and think yes you are successful. As they say, learning is a never-ending journey. From cradle to grave, we are in a continuous cycle of learning new things. 

Read books on topics you need to improve on, business updates, even stories of other business professionals and stand on the shoulders of the giants. Hence, you won’t have to make the same mistakes they have made.

Aside from enrolling in a course to acquire some knowledge, you can also attend Seminars, Conferences which puts you with people of like -minds. Consequently, you are able to make new connections and networks. More connections more chances of getting more business opportunities ,as a result, increase your profit.

UNDERSTAND YOUR INDUSTRY

Trust me, if you are in the habit of looking away from updates outside of your niche, then you will need to make a change now!

Inasmuch as Marketing is perhaps the most important activity in a business , as an entrepreneur, you need to understand your industry. Not just your own niche but the industry as a whole so you will know the disruptions happening and how they impact the industry. As a result, you will be able to make informed decisions. 

For instance, the advent of Covid-19 led to numerous changes in different industries , ranging from the education sector, to Fashion Industry, Finance , Food Industry. Some business owners were smart enough to do their research , understand the changes and tapped into the available solutions.

 Fashion brands had to release diffusion lines to sell clothes suitable for staying and working from home.

Some top brands switched to the manufacture of nose masks and scrubs. All these changes were possible because they decided to stay abreast ,understand what was happening and adapted quickly!

MARKET MORE

There is no doubt that marketing has a direct effect on changing the profitability in your business and it should be taken seriously. Having a well optimized website, an active social media presence, an effective sales team etc.

Irrespective of the size of your business, you should invest in marketing . People need to know you exist for them to patronize you. You need to be creative with how you reach and manage your target audience . This article will help you understand how to improve your website.

BONUS TIPS!

If you want things to change, you have to make the changes. If you want to see change in the profitability of your business, you have to be ready to take actions, learn more, understand your industry and market more.

Here are some bonus tips!!

1. Be Optimistic.

2. Learn to Listen.

3. Share your burden.

What changes are you ready to make to improve your profitability in your business?

 

 Recommended Resources

MARKETING STRATEGY-Why Instagram and Facebook should be a part of your Marketing Strategy.

Fabulous Ideas to Market Your Clothing Brand Online

The Best Five ways to Improve Traffic on Your New Website

 

 

 

 

 

 

 

STAY TRUE TO YOURSELF

STAY TRUE TO YOURSELF

WHAT DOES IT MEAN TO BE  TRUE TO YOURSELF

To be true to yourself is to discover your strengths, passions, limitations and purpose in life and you are completely honest with yourself, open-minded and fair. However, the only way to truly know yourself is by living life. I mean by finding out what works for you what defines you.

 

discover yourself

“The moment you try to be someone else you lose your identity and cease to exist”

Okay let’s talk about “Why you need to stay true to yourself”

 WHY IS IT IMPORTANT TO STAY TRUE TO YOURSELF?

Choosing not to live by someone else’s opinion or standards does not make you disrespectful and you really do not need to care about what people think of you. You have to remember life is an individual race and you are in charge of every decision and action you take. 

 

1) You will discover your purpose

When you discover your purpose, that is, the reason for which you were made and how you will achieve it, then you will be fulfilled. Being true to yourself will give you inner peace and the assurance that you own your race. You are in charge!!!  

2) Discover Your Limitations And Strength

 

To fulfil your purpose , you need to be able to identify your strengths and limitations.

What are your limitations as a person? What are the things that you consider as difficult or hard for you to accomplish or believe in?

What are the things you do effortlessly? 

Being true to yourself makes you answer all these questions.

In other words, you know what to channel your energy towards, where you need to put in more effort. What you can do and what you can’t do. More so, you keep growing and developing yourself. 

3) You will attract the right people

 

When you discover yourself ,your strength and weakness  ,you automatically find yourself among the right set of people. Those  who think alike and give you the opportunity to express yourself.

 

4) Life will be much easier

There is nothing as good as living a peaceful and successful life. A successful life is a purpose-driven life. Not defined by money, resources but one that is deeper. When you stay true to yourself, things fall in place and you are not competing with anyone. You will run your own race at your own pace.

In conclusion, stay true to yourself. Don’t worry about pleasing other people; living by someone else’s standards or rules. Stop caring too much about what people think and you end up being a shadow of yourself. You are the game charger! You are in charge! You are the boss of you!

Set the ground rules and boundaries, give no one else that power or pleasure. Live your truth!!!!

Have been staying true to yourself?

Let’s hear from you….

 

Recommended Resources

 

5 Tips to Prepare for &#038; Live Your Dreams in 2017!

Words of Advice from a Seasoned Businesswoman&#8230;

Factors to consider before changing your fashion business model

 

 

 

 

 

 

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