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Financing Future Business's

Beyond any of the up-front investments we are using to finance a future business, it’s important to consider any and all financial sources for growth and stability. All types of start-up businesses require different amounts of funds and assets to begin making profits.

Government grants and subsidies are an excellent funding avenue, these are great options for businesses that align with certain industries, such as green tech or innovation. However, I would explore a mix of options such as personal savings, government grants, and angel investors while being aware of the benefits and requirements associated with each and every option.

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Week 5 summery

For me to generate products for my business to sell is fairly simple. I take some wood stock and spin it on a wood lathe so that it is now a round dowel, this dowel then gets cut repeatedly at same thickness to generate many buttons at a time. These then, by hand, get the holes drilled, sanded and finished with tung oil for a protective shiny finish.

For my business I am hoping to build a custom website to showcase the products, who, and how they are made. For packaging, these buttons will be stitched onto a business card style thick paper that has been printed with logo, type of wood, and price.

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Creative concepting exercises

Step one

15 ways to use Simply Buttons products: Personalized clothing fastener, Keychain, Fridge magnet, DIY jewelry, Pin for crafting, Bag decoration, Bookmarks, Gift gag, Wallet or purse fastener, Cufflinks, Bracelet clasp, Pin for a brooch, Hair accessory, Plant marker, Decorative drawer pull

15 more creative uses: Shoe decor, Camera strap connector, Picture frame decoration, Belt buckle accent, Table setting decor, Purse charm, Mini wind chime, Sewing kit decoration, Phone holder decoration, Hat decor, DIY Christmas ornaments, Embroidery tool, Coasters, bracelet beads, Windo blind pull.

Step 2 narrowing it further to top 5: Personalized clothing fastener, Keychain, DIY jewelry, Bracelet clasp, Cufflinks

Personalized clothing fasteners are chosen to be discussed further.

Step 3

For this use we decided to use the name Woodie for these Personalized clothing fastener.

Woodie is not just a button; it’s a way to bring nature into your wardrobe with every fasten. Made from sustainably sourced wood, each button is a one-of-a-kind, handcrafted item that offers a distinctive look and feel. Whether you’re fixing up a favorite jacket, adding flair to a sweater, or making a statement with your accessories, Woodie provides a durable, eco-friendly solution for all your clothing fastening needs. The natural beauty of wood makes it the perfect complement to any outfit, and the unique grain of each piece ensures that no two buttons are alike. It’s a small change that makes a big impact on your style and the planet.

Designed to be both functional and fashionable, Woodie is more than just a button – it’s a commitment to quality craftsmanship and sustainable living. Whether you're creating a bespoke garment or simply updating a classic jacket, Woodie will add that perfect finishing touch, combining nature’s elegance with your personal style.

Woodie – The handcrafted wooden button that brings natural style and sustainability to every piece of clothing!

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Local Competition

So I will be competing with much cheaper wood buttons that anyone can purchase from Temu or Amazon however I picked this specific business because it is reasonably only viable for a sole proprietorship to make handmade wood buttons. Amazon and Temo are very good at selling large volumes of products and appealing to a large portion of the retail market.

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Strengths & Weaknesses

As the operators of a sole proprietorship enterprise's, we all must be professional in our area of work but also challenge ourselves to create a brand of core values that are important to our consumers values.

Through these next 14 weeks I hope I am able to reevaluate some strengths and improve on these weaknesses to be effective in basic revenue generation and planning for the big picture.

STRENGTHS

Problem solving

Risk assessment

Innovative

Negotiate

WEAKNESSES

Time management

Inexperienced in sales

The lure of power/control

General organization