ForumsStarting a Business

I already consulted SCORE and the person I was "asigned" to was utterly useless. The gentleman was around 70-75 who used to have a business 25 years ago. He knew nothing that could've been of any help to me.

Thank you kindly for expressing your concerns about my business.

Best of luck!

My product is unique so there is no base for comparison with similar products... there are no similar products. Therefore I have no way of knowing what my customers will be willing to pay for it. I already know what I will charge for each item so I can cover my overhead and make a profit. However, since there is nothing like it on the market, I might need to adjust the price along the way depending on demand. It's easy when you sell a product that's been already tested but with a new item things aren't as easy as they may appear.

I like the idea of giving away few to local celebrities. That's a clever approach and I've thought about it from the very beginning but it's difficult to get in touch with these people. There are 2 people in particular that I want to partner with but here in Hollywood is not easy to get access to them (without getting arrested first!).

My experience with SCORE was very discouraging and I know a couple other people who met with different SCORE counselors and were also disappointed. But I'm not giving up and I'm determined to make it one way or another.

Thanks for your advice.

Best of luck!

Even with an unique product - there are still ways to compare. If someone does not purchase your product they are purchasing other product that meets their needs. You say pendants - there must be other handcrafted pendants on the market or some type of good that people would buy if your product was not on the market. Given this, what is the amount they are willing to spend?

Example, let's say I am in the market for a new motorcycle jacket and I want one that is handcrafted and personally put together. But, I can't find one like this. So, I chose the next best thing that is in my price range - say a Harley jacket from their online store that has some customization to it. The price that I paid for the subsitute (subsitute to what I really wanted) would show a price point at which to start your pricing.

I will also put this out there - always start high with your price - it is easier to come down than it is to go up. Plus, many people think that price equals quality - thus higher the price - higher the quality - especailly if the product is unique.

Regarding find celebrities - if you want them to help you market - you can approach it to ways. 1) get out and network in places that these celebrities frequent. You might not get in front of them - but you might be able to find their gatekeepers - the ones that can get in front of them.
2) Create a very unique story - put the story with your product and send it these people directly or to their gatekeepers (publicists, agents, etc.). It might cost you a little - but watch out if one helps you promte it.

Business Money Today
www.businessmoneytoday.com