SMALL BUSINESS MANAGEMENT – Week 4 & 5

Last week we covered MARKETING for a small business.  

I think marketing is one of the most important aspects of a business.  Sure the product/service is also important &  having your finances in order is a good idea too, but if you don’t have your marketing worked out you can have the best product or service the world has ever seen & fail if no one knows your out there.  On the other hand you can take a very ordinary product like … lets say a ‘hamburger’  & turn into a house hold name.

This was something I started to see when I was studying dressmaking.  One of the assignments we had to do for our designing modules was to choose a designer & wright an assignment about their career as a designer.  Like thousands of other I chose Coco Channel.  In one way this was a bit out of character for me,  I usually like to be the one doing something out of left field, but in retrospect  I was glade I went with the flow for this one.  

Channel is one of the most well recognized fashion houses in the world.  Without ever haveing looked into it before I assumed she must have been some kind of genius –  her fashions wildly radical & different compared to the others of her time.  What I discovered was she really wasn’t any different to many of the other designers.  Her true genius was her ability to market & create the  brand name CHANNEL.

Marketing is broken down into several parts.  Researching our market place, who will our customers be, what do they want & need.  It’s important to define who exactly is your demographic so you can know how to reach them or how to show them your products/services are what they are looking for.  

Who are our competitors, how will they affect what you are trying to do.  How will you affect them. Where & how will you advertise & promote you business.  

You also need to realize  that everything has a ‘shelf life’.  Some things will last for a number of years, but other things like fashion can have very short life span.  So then as a business owner you need to not only  be able to recognize the signs of when this is happening but also be planning ahead, researching to discover what the next new thing will be so your business will always be progressive – but not to far ahead of the next new wave, this can be just as bad as not being progressive.

Today’s lesson was OPERATION.  I’m still getting my head around this one, but in short it is the combination of all the previous  topics to-date. How to combine organizing yourself, putting into practice the legals,  Occ. Health & Safety & marketing.  Tomorrow I start working on the assignment, so by the end of the weekend I will have an even clearer picture of what this is all about, but 1 thing I do know now … it’s going to be another long weekend – BUT we are now about half way through.  I’ll be glade when this is finished.  I always enjoy learning new things, but this has been very intense & I haven’t had much time to do what I really want to do – sew & knit really cute & cool toys to share with you.  🙂

Well it’s getting late – almost bed time, so I will finish now.  I will try & do another post over the weekend or early next week on some of the new things listed on the NITTENS & PATCHES shop as well as some things that will be coming soon.

If you haven’t completed the SURVEY yet, click here, it will only take about 2 or 3 minutes to complete & there is a code at the end for 10% discount at NITTENS & PATCHES.

Hope you have a great weekend … until next time

Love Mignon & Georgie  🙂

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