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Hi there.
Speaker:It's Sue.
Speaker:And thanks for joining me for tips and talk day.
Speaker:These are bite-sized topics that I pull from community questions and
Speaker:things that I'm observing in the world of handmade small business.
Speaker:If you'd like to submit a topic,
Speaker:DME over on Instagram at gift biz unwrapped,
Speaker:before we get into the show today,
Speaker:I want to make sure that you know about the newest
Speaker:thing happening over here.
Speaker:It's called the gift biz bash a zoom party that turns
Speaker:into a podcast episode.
Speaker:Several weeks later,
Speaker:the party consists of a short training with Q and a,
Speaker:from yours truly.
Speaker:And then an opportunity for you to give a shout out
Speaker:about your business.
Speaker:You can tell us about a promotion you currently have going
Speaker:on or share a collaboration that you're considering so that you
Speaker:can find a perfect partner for the event.
Speaker:A little bit of learning and visibility for your business.
Speaker:What could be better?
Speaker:There is a catch though spots are limited to keep the
Speaker:party to about 45 minutes or so.
Speaker:That means you should grab your spot right away.
Speaker:It's totally free to make sure you're included.
Speaker:Why not do that right now?
Speaker:Pause this episode,
Speaker:go to gift biz,
Speaker:unwrapped.com forward slash bash to sign up and then come back
Speaker:and listen to the show.
Speaker:I'll see you at the bash.
Speaker:It's easy to start a business.
Speaker:What's hard is to stay in business.
Speaker:There are a variety of reasons why businesses fail at such
Speaker:a high rate.
Speaker:And of course,
Speaker:nobody takes actions intentionally that will set them back.
Speaker:But that's exactly what's happening to most business startups in the
Speaker:end, their initial actions never gave them a fair chance of
Speaker:survival, right?
Speaker:From the start we're going to get into what these things
Speaker:are. As they relate specifically to handmade product businesses.
Speaker:Today, let me say right here,
Speaker:though, that this is going to be an uplifting and enlightening
Speaker:message. I promise.
Speaker:And if you're thinking of starting your business right now,
Speaker:this will give you direction on the first actions to take
Speaker:and hopefully catch you in time.
Speaker:Before you go too deep into doing what I say are
Speaker:the wrong things.
Speaker:And if you're listening today and already are doing some of
Speaker:the things I'm going to describe,
Speaker:it's okay.
Speaker:It's never too late to self-correct.
Speaker:Okay. Let's go back to the beginning.
Speaker:When someone has the idea of starting a business,
Speaker:what's the first course of action.
Speaker:They do things to establish a business based on what they've
Speaker:observed as a consumer,
Speaker:the forward facing things that make up a business.
Speaker:It's intuitively natural.
Speaker:For example,
Speaker:as a first step to decide what you're going to name
Speaker:the business,
Speaker:then they usually build an inventory of product and begin trying
Speaker:to sell.
Speaker:And there is no reason to think about a different approach,
Speaker:except that you're now listening to what I have to say
Speaker:about this.
Speaker:These are the first actions taken because these other things,
Speaker:you know,
Speaker:and see about a business from an outsider perspective.
Speaker:When you first learn about a business,
Speaker:you hear their name,
Speaker:perhaps you see their logo,
Speaker:take a look at the products that they offer,
Speaker:things like that,
Speaker:right? Yet there is a critical step that should be taken
Speaker:before doing any of these things before you start your own
Speaker:business, it's missed because people just don't know.
Speaker:And it's this most important first step that when not taken
Speaker:leads to many,
Speaker:many handmade product businesses,
Speaker:closing down as a business coach,
Speaker:I'm highly tuned into this startup problem.
Speaker:I can see from afar,
Speaker:the crushing of a dream and the switch from excited anticipation
Speaker:of what will be with a new business to admission of
Speaker:defeat. When this initial step isn't taken,
Speaker:it's heartbreaking but preventable.
Speaker:The missing step that most people never take is to validate
Speaker:that there's a market for their product.
Speaker:Meaning you have identified and proven that a group of people
Speaker:are willing and eager to pay money in exchange for getting
Speaker:what you make.
Speaker:When you're able to prove through experience,
Speaker:that people will buy your creations,
Speaker:that when it's time to start your business,
Speaker:for real,
Speaker:there are a variety of ways to do this validation,
Speaker:but essentially what you're doing is getting your products in front
Speaker:of would be customers and observing their reactions.
Speaker:What products do they ask questions about,
Speaker:pick up sample or buy?
Speaker:What colors sense sizes are their favorites?
Speaker:Is there something missing in your lineup that has asked for
Speaker:over and over again?
Speaker:There are so many things that you can learn about your
Speaker:products and their receptivity through observation and conversation.
Speaker:Also, if you're trying to decide between two different products as
Speaker:the base for your business,
Speaker:which one is getting the most attention,
Speaker:that will be your answer.
Speaker:And no,
Speaker:you don't want to be starting a company around all the
Speaker:things that you can make,
Speaker:like painted signs,
Speaker:essential oils,
Speaker:and knitted beanies.
Speaker:You want to be known for just one.
Speaker:And if you need any better example about this statement,
Speaker:refer to shark tank.
Speaker:What do people do?
Speaker:Who pitch on that show?
Speaker:One, just one product,
Speaker:a deeper conversation about this could be for another tips and
Speaker:talk episode,
Speaker:bottom line,
Speaker:before you do anything else,
Speaker:even naming your business,
Speaker:validate your product first,
Speaker:make sure you have an audience of people who will buy
Speaker:your products before you spend time and money going any further.
Speaker:And if you'd like some help with product validation,
Speaker:go to the start with confidence program that you can find
Speaker:on the gift biz,
Speaker:unwrapped website or@giftbizonrapt.com
Speaker:forward slash start with confidence.
Speaker:This gives you step-by-step direction,
Speaker:including ways to conduct validation tests and what to do.
Speaker:If nobody's buying,
Speaker:it's not the end,
Speaker:if that happens.
Speaker:And aren't you glad you found out early on,
Speaker:there are ways to work off that information and get to
Speaker:a product that will sell it's.
Speaker:At that point,
Speaker:you truly get moving with your business.
Speaker:That's a wrap.
Speaker:I'm a get to the point kind of girl.
Speaker:And this is what you can expect from these quick midweek
Speaker:sessions. Now it's your turn go out and fulfill that dream
Speaker:of yours.
Speaker:Share your handmade products with us.
Speaker:We want them,
