Constant testing and adjusting

Come to realize that constant testing and adjusting are vital to any business success. Ask, refine, ask, and refine ....

Taking a break!

Finally, I have decided to take a break on Gift15.ca. Not that I don't believe the idea would work, but I feel that I'm too mentally exhausted from building the whole business myself with not much support. I have distanced myself from people and it is not going to work in the long term.

Re-connecting with people around me will be my number 1 priority. Business still goes on but there wouldn't be as much effort put in it as before. Hopefully, I will be able to regain the human capitals needed to build the brand I hope one day.

It's getting tough

Starting a business is tough, let alone something that nobody had done before with less than 5 grands of capital. Sometimes it's just way easier to give up and go on a normal life. I even tried finding reasons for me to give up this idea. But I just can't find a rock solid reason why this wouldn't work.


Two things I had done wrong in the first launch:

1. Unprofessional website (very stupid mistake on my part)
   Now I come to think of it, ecommerce is all about credibility. You can sell crap when the website is credible (eBay) but you can't sell diamond at half the price without credibility (ok a bit exaggerating). Nonetheless, professional website is the foundation of a successful online business.
   
2. Utility
   Blue Ocean Strategy (BOS) listed 6 utilities blocks that might open up a whole new market. These are productivity, simplicity, convenience, fun and image, reduction of financial/physical risks and environmental friendliness. However, the key isn't in the 6 utilities blocks. It is in the word exceptional utility that is needed to pull customer from one product to another. The original selling points of gift15.ca are fast, easy and affordable. Is it a substantially faster and easier way to buy a cheer-up gift? Not really. It is indeed affordable when compared to the cost of flower. However, if price is the only selling point in the business, then the product must be very very cheap. Like no-frills cheap. Dollar-store cheap. The no-frills business model requires huge volume of turnover which is just not possible for a small start-up like Gift15.ca.

Corrective actions:

1. A much more professional template is used. High quality of product photo is taken and a classy logo design is made.
2. Utility switched from fast, easy and affordable to premium teddy bear, high quality classic giftbox and giftcard along with a sexy image injected into the product. Price is still cheaper than flower and so this selling point remains. 

It is an extremely exhausting work for the past month or so. I don't remember how many times I was told that it wouldn't work. I'll give it a few more try before I call it a day.

Aiming for the star - one at a time

Recently I have been overwhelmed with too many tasks for the start-up. Thinking about what to sell. Marketing, Website. Saving and searching for part-time job for the business. It really stressed me out and made me not able to focus as sharp as I need to. It's time to take a break.

Aiming for the star - one at a time is an advice given in a start-up article on entrepreneur.com. It can't be more true than that. At least it fits very well my current situation. There is no doubt that entrepreneur should think of the impossible. However, a lacer-sharp focus is needed to give people a chance to accomplish that objective. I can't split my attention and do just a half-decent job just to rush everything done. I'll take it one at time.

Look deeper into being brave

Being brave is one of the more important keys in achieving something great. To achieve something normal people wouldn't be able to do, one has to have the courage to try things that nobody thought possible or worth the time. There are many examples where people build big business with the fearless attitude. Richard Branson built the airline business with one single second-hand plane. ING Direct brought in the No-Frills business model into the ultra competitive, highly regulated banking industry. Callaway Golf made millions of dollars building a golf club with bigger balls, attracting tons of people who are frustrated not being able to hit the ball in normal size. These are the things that were all thought to be impossible or silly before someone actually does it.

However, that is just the first part of being fearless. In my opinion, being able to accept failure and move on is just as important, if not more, than having the courage to tackle whatever challenge there is. Failure is unavoidable in business. If failure is not an option, neither is success.

New capitals

The big project has been put off because of the lack of capitals. Product inventory, business operation and marketing all have big stomach to digest. My focus now has shifted to finding ways to fund this project. From tutoring math to selling Northface jacket and asian snacks again in the rural area, I will do anything legally possible to get the funding needed.

In need of capital

Finally found the box that I need. But they request way more quantity than I can afford. Gotta find some other ways to fund this project.

Box Design

Adding the design elements in the product is one change I'm gonna make on the business strategy. Cheap gifts don't sell. Product has to be made attractive first and all the other strategy will (hopefully) take effect.

A 14cm cube boxes will be one of the selling points of the business. The patterns of the designs will follow some animation such as Mario box, square object such as dice and other designs that fit both the younger and more mature gift receivers. A strong paper material will be used to build the box with shiny exterior layer where sharp color can be printed on.

Luv2pak.com seems to be able to do what I'm looking for. But at what cost? I am gonna find out very soon.

Product upgrade

There is a wide gap between concept and reality. Concept can be as sound as it could be. In reality, the product has to be attractive, that's the bottom line.

The current product selling at gift15.ca is not attractive. At least not to the wide target group that I'm hoping to build on. Upgrade is gonna be implemented. From special designed boxes to more variety of gifts for different types of girls. I'll make it a comparable gift to flowers at a much affordable price. That's where the business comes in.

Maybe taking a loan is needed?