Finally, today I made specific business cards for my various projects. It reminds me of a coming topic that I will informatively amuse you with.
Back to the future In a coming post you can follow my market fair experience revolving Gearfix. I had ordered a very limited edition of business cards along with the other market equipment and they costed a fucking fortune!
Card vs Product
The problem was that every time someone said -”Err. I’ll just take a business card and think bout it.” I cringed. I knew they wouldn’t be coming back and the fucking business cards were more expensive than the actual product. I could have given them a free Gearfix sample instead and saved money at the same time.
OK, now I have bought some new cards. From Vistaprint this time (almost for free). Somehow Vistaprint must be up to no good and are openly battered for their ethics by Swedish business magazine Driva Eget. But I couldn’t ignore the price, good service and excellent quality delivered.
A big issue for me was to figure out how much I could charge the retailers for my drill bit holder. In lack of good advice I begun a trial and error strategy that failed miserably!
I know nothing The production cost was easy to get grips on. My manufacturer was very clear on what he needed to deliver the gadget. On the other hand I was clueless what the retailers margins were. I heard that some jewellers had an average profit over 1.000% and the local grocery store maby had about 50%.
My buddy’s advice Earlier a Big shot buddy was nice enough to gave me some free advice and helped me out with some business strategy. Among many things, he suggested to focus on how much profit I needed and we came up with 25% to keep any sneaky bastards away.
My advisor’s advice I also had a professional business counsellorwho skilfully avoided answering this pricey question. It later turned out he was a complete bastard.
Starting from around me having 25% profit and the retailer around 300% I typed in many different scenarios. If I sold over 100 000 units it would just cover my expenses. Was that good or bad? It took over a year before I found someone that told me my calculations were fucked up.
I had no money, hardly any income and needed a painful loan to start the production. So the first order had to cover most of the expenses and I set the price stupendously high. This made the retailer only a tiny profit but they were really kind to accept. Since this ”very high” price for my drill bit holder worked for them I should have been able to stop myself from going on a crazy rampage later on.