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Are you ready for a brain dump?

Hey there!

Every person I know, regardless of their profession, goes through their day with a mental “to do” list, periodically adding and removing various tasks. While this might be the quickest way to remember all that we must get done, it is also very easy to begin feeling discouraged or overwhelmed when it’s all in your head. Taking a few minutes each morning and evening to record everything that’s on your mind (I call it a “brain dump”) will help you stay organized and on task.
 
Once you have your to-do list written down, the next step is to prioritize. Go through your list and figure out which tasks will either bring in the most sales, or will lead to the creation of an important business relationship. These are your top priority. Next, if there are any tasks on your list that you are dreading because you do not feel fully qualified to handle them, hire someone who is! Your time is too valuable to be spent figuring things out. Do the tasks that are your “unique ability” and outsource the rest. It’s OK to ask for help! That way you can spend more time on the profitable tasks you enjoy and are good at that will more than pay for someone else to do the rest :).
 
Another tip to help you get organized is to use a program like dropbox.com. If you are constantly on the go, or are operating across different computers, like I am, this can be a lifesaver! Create as many different folders as you like and access them from anywhere; it’s the system you’ve been dreaming of! (shhh… it’s free too!)

Take 10 minutes right now and do a brain dump! Prioritize 5 things that you are going to get done today and share with us! Look forward to hearing about your “new” system!

xoxo,

Grace Kang
Your Retail Product Mentor

p.s. A BIG, warm welcome to all of the new readers who joined our community! You are going to love the resources you will find here to help you make your product retail-ready… Enjoy!

image: boygirlparty etsy shop

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pricing for profit!

retail recipes

Hey there!

As designers and artists, your passion is to CREATE beautiful and innovative product. It’s a given that you find joy in the process of creating and sharing these goods with the world, but you need to make money in order to continue on this path. Pricing your creations is not only an important factor in selling to a customer, but also when you sell to retailers. Having a clear idea and layout of your retail price and wholesale pricing strategy will make selling that much easier for everyone involved.
 
Many people have a lot of trouble figuring out exactly how to price their merchandise. There are three components that are most important in this process and it’s easy as A-B-C: cost to make the product, wholesale price and retail price.

To figure out your cost to make the product, add up your cost of materials, labor, shipping and repping fees (if you have a sales rep). Most people tend to leave out labor costs but this is a legitimate addition. Your time is valuable and must be accounted for!  The sum of these factors is “A.”

To figure out your wholesale price, multiply A x 2.2 to get to your wholesale price. We can call this “B.” (Round number to next whole digit.)

To figure out your retail price, multiply B x 2.2 to get your retail price. We can call this “C.” (Round number to next whole “even” digit.)
 
These numbers are a good base point from which you can tweak based on a number of factors. Take a look at your competition and know how you are positioning your product in the marketplace. You don’t always want to under-cut them; if you can justify a higher price then go for it! Seeing your various costs laid out will also enable you to identify certain areas you’d like to cut down on if you want your price to be more competitive.
 
Whether you are selling 6 pieces or 600, you need to price for profit!

So take action now! Run through this pricing exercise for your product and share your insights here.

xoxo,

Grace Kang
Your Retail Product Mentor

p.s. A BIG, warm welcome to all of the new readers who joined our community! You are going to love the resources you will find here to help you make your product retail-ready… Enjoy!

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do you crave community?

Hey there!

Starting your own business can be a very lonely endeavor, especially if you’re a single designer or artist trying to get your work out there. There are many hats to be worn and, especially in these harsh economic times, the best “dream” idea can turn your life inside and out. While you may feel like a superwoman (or man) to be able to juggle everything, it can actually hurt you in the long run.

Someone very smart once told me, “You can’t see the picture if you’re the frame.” The point is that if you’re too close to something it’s hard to see it for what it really is or how it can be better. Each person views the world in a unique way and the more eyes you have on your business, the more opportunity you have to make it the best that it can be.

This quote does not mean that you should not trust your gut or your vision. Your pieces are yours alone and should reflect your own personal style and skill-set. What it does mean is that you should also surround yourself with other like-minded entrepreneurs for support and community. It is easy to get discouraged at times when business is tough or if you are up against a challenge and don’t know where to turn. But when you have a community of people waiting to cheer you on and support you, you will never be truly alone.

I am excited to announce that we are officially launching our new vip membership forum. Do you crave community? As an entrepreneur, I am constantly surrounding myself with other like-minded entrepreneurs to up-level my business, and I want to create that kind of community for all of you. This vip membership forum will serve as a safe and encouraging environment where you can ask questions, bounce ideas off of and create collaboration ideas to promote each other.  It is already buzzing with designers making connections and trading ideas. So don’t miss out on this great opportunity!

SPECIAL BONUS: If you decide to take action and go with option #2, you will not only save 20% on the monthly fee but you also get a FREE one-on-one private coaching session with me. I can’t wait to “meet” you :)

Happy Community!xoxo,

Grace Kang
Your Retail Product Mentor

p.s. A BIG, warm welcome to all of the new readers who joined our community! You are going to love the resources you will find here to help you make your product retail-ready… Enjoy!

photo credit: etsy shop nakedpastor

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Action!

video
Hey there!I’m sure you’ve heard the phrase “a picture is worth a thousand words.” It rings true because a visual can speak to so many levels than just having something explained to you. Words can connote so many different things, but there’s no denying what your eyes take in (ever heard “I’ll believe it when I see it”? :)

But I want to take this up a notch and say that a video is worth a thousand pictures. Creating a video to share your story is a great way to connect with potential stores and customers. You can talk about your “A-Ha” moment or share the mission behind your brand.  When people feel the passion behind what you do, it will instantly create that “know, like and trust” factor with the viewers.

As I’ve mentioned in the past, having a memorable story to tell is one of the most important parts of having a successful brand. Memorable doesn’t always translate into dramatic, or flashy, or even perfect (I made some bloopers in my new video as well). What it does mean is authentic, genuine, and fun.  It should be everything that you and your brand represents, and it should be consistent with your own unique style. What better way to convey all of this than to look your audience in the eye and share your story with the world?

I have a challenge for all of you. Create a video of your story within the next 30 days and submit it here. The winner will get a 50-minute one-on-one session with me :)

Here’s to doing something that makes you uncomfortable each day!xoxo,

Grace Kang
Your Retail Product Mentor

p.s. A BIG, warm welcome to all of the new readers who joined our community! You are going to love the resources you will find here to help you make your product retail-ready… Enjoy!

 

papernstitchIf you are looking to “Create a BUZZ” for your line, join an online marketplace. As a creative type and handmade lover, I love what Brittni has done with papernstitch.com. She has created a beautiful site to promote indie-designers and artists in the handmade world. Check out my podcast interview with her in unlocking some of the mystery in selling to retail stores.  Enjoy!

omhgIf you are a handmade designer, join me for the next #omhg chat on Thursday, August 11th from 1-2PM EST with the hashtag #omhg!  Come and share stories or challenges, ask questions, get feedback and chat in general about their retail experiences.
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Packaging DOES Matter!

packaging

Hey there!
Everyone knows the old saying “Don’t judge a book by its cover” and as much as many of us try to adhere to it, few truly do. It’s a part of nature to assess something upon first glance, and then proceed or turn away based upon that initial encounter.

Creating an attractive packaging for your brand is no different. As a designer, you want to be able to create a packaging that attracts both retail buyers and consumers. You may have the most fabulous product ever created, but no one will know unless they are drawn to it long enough to discover its worth on the inside.

Attractive packaging doesn’t necessarily mean intricate either. In fact, packaging can also have the opposite effect if it is too gimmicky or gaudy. The packaging should resonate with your brand.  Hence, it should enhance its appeal not drown it out.

One example of a new company that has done this very well is Knot & Bow.  Knot & Bow is a small business from Brooklyn, New York who is thinking BIG.  Their stationary and gift wrap goods are high quality and uncomplicated, and their packaging shows for it. Simple type, muted colors and tiny artful touches elevate the look of the product instead of covering it up.

How is your product packaged?  Does it enhance your brand or does it drown it out?  What can you do differently to give that GREAT first impression?

Happy packaging!

xoxo,

Grace Kang
Your Retail Product Mentor

p.s. A BIG, warm welcome to all of the new readers who joined our community! You are going to love the resources you will find here to help you make your product retail-ready… Enjoy!

photo credit: knot and bow