My first boutique was an epic FAIL!
I’m not particularly fond to admit THIS but… My first e-commerce store was an epic FAIL!!
I went from being excited about knowing I could sell online to losing $500 I invested.. HOW??! Keep reading!
A little back story — I moved to Melbourne in 2014 to start a new phase of my life — the married life!
I was a freelance researcher & writer back in India. I loveee to write, can research for hours anddd I didn't have to stick to a 9 to 5 schedule or a desk to get work done.. THIS was the perfect job for me! So when I had to move to Melbourne, I wasn't worried at all because I knew I could continue with my job all while exploring the new city! But things didn't work out & eventually I was left with no work!
With only 4 months of corporate work experience (that I DID NOT enjoy at all) I was sure that I didn't want to go get a job! This is when hubby introduced me to E-Commerce & selling online!!
Here's a small confession - I didn't know we could sell online! I actually thought that only big corporations or people with large warehouses & fancy brick & mortar stores could sell online until I came across eBay!
To get a hang of how things work, I started to watch YouTube videos so I could go thrift shopping and flipping things I found at dollar store! Some would sell immediately while others took a long time. While I was doing this I started researching more about selling on eBay and came across Alibaba.com!
I was fascinated with the products they had & after months of research, back & forth with suppliers discussing prices, MOQs & delivery we finalllly invested in a small batch of Cellphone Power Banks!
And guess what??! It was an EPIC FAIL!
Technology changed within months & there were lighter & more powerful versions of it in the market after a month and I was left with a bunch of brand new products that no-one wanted to buy!
As painful as it was to donate & give them away for free here's what I learnt from that experience that I wanted to share with YOU —
++ Researching what's new & popular is NOT enough! You've got to think 10 steps ahead.
I did my fair share of research on product demand, market, popularity, suppliers, prices etc. but what I didn't take into consideration is CHANGE! Technology is one niche that is always evolving & since I was new, before I could learn how to sell with an on-the-job kinda experience everything changed & my products became redundant!
This applies to all niches & not just technology! Whether you are planning to sell clothing or move to a different niche, it’s always essential to think 10 steps ahead & NOT just focus on what’s in trend right now.
++ Knowing my numbers.
Boutique is less about fashion or whatever niche you are selling in & more about NUMBERS! I know THIS now but back then I had no idea. I didn't know my shipping costs (I went with local post office instead of researching shipping prices), packaging materials I needed, or any other fees associated with running a boutique & hence went into loss!
It’s essential to know your numbers BEFORE you start. They don’t have to be accurate but you should have an idea of where you going & how much it’ll cost you.
++ Not having a plan is similar to planning to fail
I didn't have a contengency plan or a strategy other than selling them on eBay or gumtree!! When I first started out, all I knew was you can sell products on eBay & gumtree. I didn't know the different ways of promoting my product that I know about now like social media, content marketing, email marketing or Ads!
This not only limited my marketing options big time, it also made selling hard.
It’s essential to have a strategy/a plan when it comes to marketing your products. You need to START thinking about it as soon as you order your products sooo when they arrive & it’s Go-Time you know exactly what to do & where!
Another essential strategy is.. generating curiosity! Starting to socialize with potential customers online, giving them a peak & getting them to sign up with you (via E-Mail) so you have a warm audience to target when you launch!
++ Knowing who I was selling to
I was selling Power Banks for cellphones. Heck every single Australian who owns a cellphone was my target audience.. or atleast that’s what I thought! Buttt I was wrong!
A mum who’s at home most of the time doesn’t need it.. nor does the boss who’s at his office desk 10 hrs a day! They have easy access to a cord & a plug to charge their phone!
Knowing who your audience is, is sooo important because it helps you with everything from - buying inventory, talking to them online (your voice), the language you use, the Ads you create, the platforms you market on & so much more!
It also goes in hand with lesson #3 because if you don’t know who you are selling to, you don’t know how you’ll create a plan to sell to them.
++ A compelling product description
Are you thinking.. how could I get THIS wrong when I was a freelance writer?? I know! I had a similar thought & THIS (+ the next one) was one of the hardest points to admit! I knew all about plagiarism & duplicate content but my line of work did not require me to know about SEO & that’s where my product description failed. It didn’t have good powerful keywords that I could leverage to drive traffic to my listing on eBay!
Whether you are selling or plan to sell on marketplace (like I was) or opt for your own website, knowing about SEO & keywords is essential! It’s HOW you can drive organic traffic back to your store.
++ Not having the right mindset
THIS was a big one for me! As I mentioned earlier, I didn't know we as individuals could sell online & therefore had a shitty & scary mindset when I started! Always doubting & constantly wondering WHY someone would buy from me (I hardly had 10 reviews on my account) andddd as you can guess… it did manifest for real!
Having the right mindset is 100000% important. You can have the best products but if your mindset is shitty, you’ll have a hard time selling it with all the doubts & negative shit going on inside you! Everyone has doubts & limiting beliefs.. it’s how you navigate despite having them, take action & continue to hold onto the belief that your success is inevitable that makes all the difference!
Here's the thing.. I know..
The fear of starting out is REAL!
The fear of NOT feeling enough is REAL!
The fear of NOT selling out your inventory is also REAL!
But you know what else is REAL..
Succeeding when you know what you are doing!
Accomplishing & hitting your goals
Learning before starting out.
You don't have to jump blind & build the plane while you still in the sky! You can do it on the ground & start with a parachute on your back so you DON'T fall flat!
Anddd to help you with that I've launched
The Boutique Biz Bundle!
Everythingg you need to start & grow a successful Online Boutique!