Elena Daccus has sold companies up to the value of $10 Billion and joins Nicole on this episode of Start Scale Succeed. Listen in to find out about making sure your business idea is viable, researching your ideal client, how you can grow, and what you can do to make a business eventually run itself.
KEY TAKEAWAYS
Unless you’re in a declining market, you can make any idea successful. You do need to have a burning desire to make it work.
Listen to the customers who are actually buying your product. Don’t put too much stock into what someone on social media says, listen to the people putting their hands in their pocket and who actually buy your product.
Being clear about who you are targeting is so important, bring all of your ideas back to that point. Ask yourself, is this what my customers want, what makes them buy products similar to yours.
Browsing specific forums and Amazon reviews can help you find out what an existing customer base likes and dislikes about products similar to yours. You can even use those existing audiences as a testing ground for how you can improve your product and make them want to pick it up off the shelf.
Minimum order requirements can be a stumbling block. It can be advantageous to find a company that can scale with you as you grow. Spending more per item for a lower volume that you know you can actually sell might save you money in the long run.
By getting in front of buyers early on you can get valuable feedback on your product. Even if they don’t want to buy, you can go away and improve on what they want so next time you have a product they want.
BEST MOMENTS
‘Regret is my biggest fear in life’
‘Nobody wants a drill, they want a hole in their wall. This is what the customer is actually buying’
‘Good retailers will want to support up-and-coming brands’
ABOUT THE GUEST
Elena Daccus is a sales and business strategist who has bought and sold 50 companies up to a value of $10 billion and is also a founder of The Bossy Heels Club, a community for female coaches.
VALUABLE RESOURCES
https://www.bossyheels.com
www.instagram.com/bossyheelsclub
https://podcasts.apple.com/gb/podcast/bossy-heels/id1544294928
ABOUT THE HOST
Buying & retail expert Nicole Higgins spent the last 18 years working for companies such as Primark, M&S, Debenhams and Asda, sourcing & developing products from all over the world, building strategies for blue chip businesses, and increasing bottom line sales and profit, adding over £40 million in incremental business to the bottom line.
Nicole now uses that experience and works as a consultant and coach for entrepreneurs and small to medium sized business owners, helping them start and scale their product businesses as The Buyer And Retail Coach (TM)
Join the start scale succeed waitlist. How to start & scale a product business. A 12 Week programme: thebuyerandretailcoach.com/startscalesucceedwaitlist
CONTACT METHOD
Website http://www.thebuyerandretailcoach.com
IG https://www.instagram.com/thebuyerandretailcoach/
LinkedIn linkedin.com/in/nicolehigginsuk
Email nicole@thebuyerandretailcoach.com
Newsletter https://thebuyerandretailcoach.com/newsletter-sign-up/
Book a call with me https://thebuyerandretailcoachltd.as.me/discoverycall
