Possible Mistakes

A possible setback that I may encounter is that my service is not yet popular and business might be slow until the word gets out. This business will partially rely on customers bringing in trade-worthy items so if we aren’t getting material then the business may suffer.

There are three other products/services that I may be able to start if all goes badly that differ from my original idea but still embody my ‘thing’ along with my values.

I could introduce a product that helps aspiring doctors to memorise the anatomy by having tangible items that test one’s knowledge.

I could also start a business as an interior designer to inspire others with my own style of living.

My final business idea is gourmet candy/sweets that completely capture the natural side of sweet treats.

Branding :)

After a lot of thinking I have come up with a few possible candidates for a brand name. I have cross checked with a government-produced website to see if these names already exist and have managed to choose one of the three below.

Stuff and Things

Bits and Bobs

Clique

I have decided on Stuff and Things because I feel that it really embodies the pre-loved, environmentally friendly, vintage look I am trying to make for this business.

SWOT conclusions (strategies)

After my SWOT analysis, I have come up with two strategies to help me grow strengths and mitigate weaknesses.

My first strategy to build on my strengths/opportunities is to market the sustainable and budget-friendly side of my product to appeal to the consumer’s morality. This will help distinguish my service from others and help spread this news by word of mouth for its uniqueness.

My second strategy for abolishing my weaknesses is to make sure people know that my service also takes used items and cleans them up for the original customer or cleans it up and stocks the item for future use and the customer gets a discount for donating an item to the business. This will help with the possibilities of not having enough quality material to use.

MY VISION

Desirable attributes for my product:                                                                                    My product is sustainable because it encourages people to recycle their old clothing. The product is also budget friendly because consumers will be bringing in donations/swapping items meaning the business will not need to buy materials.

Why my product is unique:                                                                                                     My product is unique because it brings back the vintage feel of belt shopping because it acts as a thrift store for pre-loved items. consumers are able to choose their own items and this makes them more likely to be satisfied with their product. Another aspect of my product that makes it unique is that the business encourages swapping items. This means that they get a discount on the item they buy for donating an item to the business.

How my product will make your life easier:                                                                     My product will do this by allowing consumers to choose their own product in order to get the best combination of buckles and belts to get a great look for any outfit. This business will also get the old, unworn items out of their houses to be spruced up and given a new home.

 

MY MISSION

My entrepreneurial idea is to create fashionable and functional belts and belt buckles for consumers. This would be beneficial to the buyers as they would have the ability to mix and match the buckles with belts to create unique looks to go with any outfit. The materials used would be recycled and would have an array of vintage and modern looks. this product would also encourage people to recycle their old clothing and help the growing unnecessary clothing waste.

 

My Take On Entrepreneurship

I understand an entrepreneur to be someone who sets up a business or takes financial risks in the hope of profit. An entrepreneur may be someone as insignificant as the neighbour next door, pouring all his money and time into perhaps creating a new mixing machine, soundproof walls or self-walking shoes.

entrepreneurship is the act of setting up the business or inventing or taking financial risks. anyone can be an entrepreneur, all it takes is to be a creative thinker and make a difference in the world however small about something that they are passionate about.