asacharsworld

[asacharsworld]

Progress of start-up venture - week 13

what is working?

Business is good, we are preparing the baskets in a timely manner and customers are satisfied with our products and customized service.

What is not working?

Business is going well.

How do you feel the project is coming?

I feel that it is going great so far.

What are you learning about running a business?

I find that having the business in four areas such as florist area, toys area, food area and customization area. Really add more blooming to business. Our business is getting busy now.

What are you learning about yourself?

I am learning that in the future I will be a great leader and might one day in the future open up a business like this one. Enjoyed my business and creativity that I added to it.

[asacharsworld]

Progress of start-up venture - week 12

what is working?

Business is is starting to get busy and more customers are asking for customized baskets with certain objects inside them. So we can looking online and picking up in-store items as per customers request for certain items and our friend is busy customizing names on the baskets and clothing.

What is not working?

Business is okay as for not working we won’t know unless we have a problem.

How do you feel the project is coming?

I find that it is good and we are finally picking up at a good time.

What are you learning about running a business?

I am learning that having special promotions and special designs we are different than other online stores. We can add florist in one area and chocolates in another area to give more variety down the road next time. Even doing hot air balloon baskets in the future.

What are you learning about yourself?

I am enjoying my business and looking to improve and add more items to our store like flowers, hot air balloon and other items that are popular these days. Also letting my imagination run wild and having fun with my business.

[asacharsworld]

Progress of start-up venture - week 11

what is working?

Business is still running and customers like that fact that they can choose their items and create a budget-friendly gift basket. We have been making the orders right away and giving the customers on the same day, which the customers really liked.

What is not working?

Business is okay as we are making baskets same-day because we aren’t busy. Hopefully more orders will come next week.

How do you feel the project is coming?

I find that it is running good and we are picking up at a good rate and are steady.

What are you learning about running a business?

I am learning that even through promotions and advertising we should make flyers for newspapers if we want everyone to know about our business. Even though we are online maybe some customers still enjoy old fashion newspaper and flyers. We should aim for all customers and not leave anyone out.

What are you learning about yourself?

I am enjoying my business and looking for new experience on advertising, promoting and learning about sales and budgeting. Enjoying this course.

[asacharsworld]

Progress of start-up venture - week 10

what is working?

Business is running good and we have started to get a few Christmas orders.

What is not working?

Other than not getting enough orders, we are pretty good.

How do you feel the project is coming?

I find that it is slow, but if the in-store renovation was done we could have had more customers and orders coming.

What are you learning about running a business?

I am learning that a lot of marketing and promotions needs to be done for customers interest to spark.

What are you learning about yourself?

I find that looking at my favourite stores can help me understand business more and help create ideas to help my company progress. Just like how people love to go shopping. Exactly the same feeling I want our customers to feel.

[asacharsworld]

Progress of start-up venture - week 9

what is working?

We have gotten many likes on social media and are starting to get more orders than last week.

What is not working?

I find that we aren’t that busy like we should be since Christmas is around the corner. Maybe in two more weeks we will get lots of ordered, due to last minute Christmas shopping.

How do you feel the project is coming?

I find that the project is serving its purpose and the business is still running, so hopefully it starts picking up as we get closer to the holidays.

What are you learning about running a business?

I am learning that it does take awhile before the business starts to bloom. Right now, we are still in the starting up slowly process and need to have patience and hopefully we will get more orders soon.

What are you learning about yourself?

I find that being patient is the key to success in growing the business. We will always have ups and downs in business, my company makes more profit during special occasions and holidays then the rest of the year. We got to make as much profit during the peak seasons to keep the company going.

[asacharsworld]

Hi Everyone!

This is my online showcase assignment for my company: Simz Gift Baskt, I hope you enjoy it :)

My first time making a video I hope I do good! 

[asacharsworld]

Progress of start-up venture - week 8

what is working?

We posted our business on social media and have got a few likes. Had some customers ask questions about the baskets. Slowly getting in a few orders.

What is not working?

I found places like Facebook marketplace selling baskets for low price but some are not customizable and are readymade baskets. Also our low price baskets need more sales to make more profit, we need more advertising around the GTA so the word of our business gets out every where.

How do you feel the project is coming?

I find that the business is growing slowly and we are making necessary changes along the way to make business become more better and successful.

What are you learning about running a business?

In order to run a business you need to understand basic rules and make a plan will all necessary steps to follow. You need a budget and then do lots of research and find all the supplies you need for a good prices. Even though we love to shop, it gets tiring too.

What are you learning about yourself?

While making the budget sheet I learned I am not good at calculating the revenue and expenses, and after all that calculations you don’t make much the first few months. In long term, you can make profit but in short term its just like pocket money. I will try my best to grow my business in these 14 weeks.

[asacharsworld]

Start-Up Venture

What is working?

For Simz Gift basket, I find that we are doing good and customers like the idea of in-store purchases instead of online. We are working together as a family to create gift baskets as soon as possible and making great progress with our business.

What is not working?

We are trying to get more clients with the flyers and big board outside of our place but, we have to deal with competition on social media that have low prices.

How do you feel the project is coming?

I feel that in-store has its perks and that meeting clients in person helps build a better business where their feedback of our products helps us create a better business for what clients are looking for and expand our ideas on how to bring in more of what clients want to see in-store. Just like the primary research that was done by daycare staff. Their feedback will provide us with what changes need to be done in order to give customers what they want and what kind of designs they want to see in our business.

What are you learning about running a business?

I find that making your business from scratch requires a lot of patience and takes a few months to start making profit to help expand your business and you need to have great communication skills to bring in clients and advertise your business so you won’t lose to your competitors.

What are you learning about yourself?

I find that I am actually feel like making this Gift Basket service come true in real life, that I can actually be a good leader and help my family open up a business in the future. This was a great opportunity to create your own business, who knew that I actual have great ideas and that I can someday open my own business. It was never in my intention that I can be an entrepreneur. Very exciting experience this is for me and I enjoy it.

[asacharsworld]

Financial source

For Simz Gift Basket service we have been using personal investment to buy materials and then build a basket and sell them for now. The profit we make with these baskets we minus our expenses for the items we have bought using personal investment. After a month we started to make profit in our business and we are able to continue making profit and pay our expenses using this money. We have also used Love money from our family members that invested in our business to help expand it and will make profit from it later on. Bank Loan was used to help renovate our home base to expand our business and will be paid back on a monthly basis as we make more profit in the future .My  personal credit score is very good so I will most likely get approval from the bank..

Another option we can look into instead of bank loan is the BDC offers start-up financing to entrepreneurs in the start-up phase or first 12 months of sales. Which can also help our business too.

My vision is to create a bigger place by renovating our home based and expanding it for customers to have an in-store experience and create their own baskets right away without waiting for delivery and can pick up when ready. As I said above, we will use tools we have and buy other items in person at the store as we slowly make profit in the business.

[asacharsworld]

Business Operation Plan

My business plan for Simz Gift Basket is:

Purchasing product(s):

The products needed to create a gift basket will be brought from stores like Children’s Place, Gymboree, Carter’s, etc. Toys will be bought from a wide variety of stores like Toysrus, Walmart and Mastermind, and materials will be from Micheal’s, Dollarama, and whole sale stores to buy in bulk. We can also order online as well if needed.

Will you be able to source your product in time?

We will be working together as a family for complete the gift baskets on time and it would take about 10 minutes to put everything in the basket together and wrap it up nicely. We already have some clothing’s, toys and other products available at the moment. But we would need 1-3 days for special request like customizing products such as baby cloth, towels, one piece with names or logos on it, and we already have a friend that does the customization for us in our company which is a great help. Once our store is open we will be making baskets on the spot so customers do not need to wait for shipping or pick up unless it’s a special order.

We have business cards so we ready to start taking order from customers and use the products we have at home.

Licenses or permits:

Ontario Business Name Registration

Because it is home-based business you only need to register the name of the business so no one can take you title in the future.

[asacharsworld]

[asacharsworld]

               Customer Persona 

About Them:

Young Adult Anna, who is between the ages of 25-30 works in a daycare center where she is also responsible for organizing special events for the staff and children throughout the year. She is a teacher that has been organizing events for a few years and is responsible for creating a budget that the center can afford.

Use Case:

Anna has contacted Simz Gift Basket to help her out in creating small gift baskets for the staff in the company for RECE Appreciation Day to show staff their gratitude for all the hard work they have done throughout the year. Simz Gift basket had help create 14 gift bags that contained products such as Bath and Body work lotions, body scrub, scented candles, chocolate and candies, etc. We created a variety of different bags so that staff can choose what they like without it being all the same.  

Previous Solution & Pain Points:

For a few years she has been buying products from Dollarama and other stores that she can create easy giftable products. But now the staff are not liking the similar prizes or gifts every year and want a change when it comes to gifts, they also find that the products are cheap and want good items that they can use. So Anna used social media such as Facebook and Instagram to find someone that can help her out according to the company’s budget.

 Benefits:

By using Simz Gift Basket, the daycare center gets to choose what items their staff would like or leave it up to us and we can make goodie bags or small baskets according to their price range. We also use products in season for customers and travel from one store to another to get them what they want. We have products from stores all over and love to shop for you. This way our customers will not have headache or stress over creating gifts for everyone, we at Simz Gift Basket will do that for you and work with your budget to give you the best.

 Buying Trigger:

What makes companies look for Gift Baskets like ours is the stress to make a gift basket on their own. Even though making your own gift basket isn’t that hard but it does require you to be creative and stylish and search for good products that have reasonable price rate so you don’t spend all you money on two or three items. So instead of customers going through all the problems and stressing out, they search for business online as they search the key words “Gifts” on social media and find company like ours that can do low budget for them.

Buying Process:

The process of Simz Gift Basket is very simple, we have a few designs that are posted on our Instagram and Facebook site or we have business cards for customers that can give us a quick call so we can answer any questions they have. If you don’t see what you are looking for you can let us know by messaging us or calling us to give us a detailed information of what you want or what your budget is and we can provide you with images and show you want we can do for you. We even go out of our way and deliver it to you according to your location.  

Choice Factors:

Simz Gift basket gives customers

1.      A list to choose your items from or we will buy what the items you are looking for

2.      We do all types of baskets for different occasions

3.      We make gifts according to your budget

4.      We will deliver depending on the location

5.      We can also customize products to have names or words on them

6.      We make sure all customers are happy with the products they get as well as the design of the basket/gift

[asacharsworld]

Local competitions

While searching gifts baskets in our area on the internet, I found that majority of the companies are online and only one in-store basket service. You can also find many gifts baskets on social media but they are side businesses for extra income. There aren’t an in-store businesses available. The three competitors I found were in-store Edible Arrangements, Simply Gift Baskets Mississauga- Online Store, and Perfect Baskets online.

Edible Arrangements store is a place that designs baskets that are made with chocolates and fruits, gifts that customers can eat.

Strengths:

-for people that love sweets, in-store option, creative designs, budget under $40 available, sell large quantities, delivery with charge available

Weakness:

-no shipping, no keepsake items, no toys or other variety available, overpriced for small amount, hours of operation limited

Simply Gift Baskets Mississauga- online store

Strengths:

-great designs, variety of baskets, shipping available

Weakness:

-overpriced baskets from $100, chocolate baskets from $65 and up, no information about the company on-site, no customizable option

Perfect Baskets Online

Strengths:

-offers next day option and sometimes same-day delivery, customizable option available, sells large quantities orders, can create your own baskets, personalized message available

Weakness:

-drop-off available according to there timings or left at doorstep, no reviews, high priced $60 for 5 items, $70 for 6 items, $80 for 7 items, supposed to be as seen in photo

As you can see the three competitors all have their strengths and weaknesses and with this my company Simz Gift Baskets will provide more options available to customers and will be a company that will provide in-store service were customers can actual choose,feel and pick there items. Compared to online where you can see pictures but won’t know how the baskets or items are until it’s delivered. Why take that chance, exactly why we are building our company. The outcome will be great.

[asacharsworld]

Hi everyone, sorry I deleted the other post because i felt that I did something wrong.

This is a message map of our company called Simz Gift Basket, we have it on Facebook and Instagram.

We make customizable and budget-friendly gift baskets for all customers and for all occasions. We are a family owned business where we help each other out to complete each basket on time and are always given a positive feedback.

We have a list of items that our customers can choose from and if we don’t have what you are looking for we can always do and buy them.

Check us out on social media.

[asacharsworld]

Strengths and Weakness

Everyone has their own strength and weakness that they need to work with. Most people do overcome any weakness they have over time through experience, situations and daily communication with others.

My first strength is communication, I love to talk to people and communicate directly to them. I like to make others comfortable as I prefer to talk then to have a quiet room with people in it. Over the years, I have talked to many people at my job and enjoy listening to their stories and they have also enjoyed my feedback and communication on a daily basis.

Another strength connected to my previous strength is people management and leadership skills, I enjoy working with others and being able to direct people in a positive way and help with any problems they might have. I have trained a few people over the years by helping them understand their duties and responsibilities and making sure they have enough time to complete their tasks. I have also enjoyed taking the responsibility in the past to create events such as potluck, gift exchange, Pancake Day, bridal shower, baby shower, etc.

Time Management is another great strength I have, I make sure everything I do is done before the due date or time at work, school or home. I like to be on time and on schedule with events, work task and other assignments.

Just like we have all these great strengths, we all have our weaknesses that we would like to work on and I have a few I would like to overcome and have it become a strengths skill in the future.

My first weakness is Math and financial planning, even though I am somewhat good with understanding some financial planning but I would need to get more experience in this skill to full understand it fully. My math skills are good but its somehow harder giving the situation you are in and what type of math skills are required. I am a fast learner and after doing it for a while I can be very good at certain skills or planning. I believe everything requires more practice in order to be very good at something or some specific skill.

Sales/negotiation is another weakness of mines, I have never been good at a job that requires commission based income. I do like to talk or communicate with people but when you need to do to make commission I feel like I am put on the spot and then suddenly you feel the pressure on a daily basis to get customers. I can’t even do door-to-door sales because of the strong attitude you need when customers get mad or shut the door on you. It’s a hard job and you need to be mentally prepared for it. I haven’t developed any negotiation skills over the year only some situations like if a customer doesn’t like an item they can exchange it or get money back.

 Everyone has similar or different skills to one another but it’s those that overcome their weakness that become stronger over time and are able to overcome any situation or problems that the future holds.