sudeep2004

[sudeep2004]

Start-Up Venture Progress Update

After my previous post, I continued to gain the necessary knowledge throughout my start-up development.

Here is my update:

I did make a post about my business and made one one-on-one call to all the persons I know around and informed them about my business. I am gaining engagement, and I made a sales of good amount in the beginning week after I got my products. I participated in class presentations, which helped me stay focused and led me in important directions while improving the clarity of the message.

I find it a bit challenging as I had done research and how am I supposed to execute things but I am learning and doing things that I can now today I'll wait as I just made a post in Nepalese groups to see the response I get and if it doesn't work then I'll start my paid ads to attract more customers with a proper ad video about my product.

The project is challenging and that brings me both determination and enthusiasm. I am happy with the step I took and invested my money in. I am gaining good responses about the product through my friends too, and that kinda motivates me to build it even bigger than this.

Getting feedback through networking serves as an invaluable tool that requires me to enhance my decision-making speed. The ongoing project increases my challenges, which motivates me to improve my strategies for future development.

[sudeep2004]

My Online Business Journey

Starting an online business provided me with an energizing experience that help me learn about how actually works and I am providing some improvements in it.

What’s Working?

i have calculated the budget from that budget assigment and know about my financial thing and i have done 1 on 1 call and got some pre orders and after i get hands on the products I'll send them out to customers.

What’s Not Working?

I am working on script for advertising the product and waiting for my product to be here and it is delayed for nothing here is the tracking link https://apexfte.com/ and tracking id is:: 170023280. I am managing my studdies along with the job and this assignment that is why i am not able to focus on the assignment fully.

How Do I Feel?

Honestly speaking i am feeling so confident and i can be a boss at for the business and i am willing to face all the possible issues which might arise in comming days after i launch the business and this thing was inside my head from long ago and i am glad with the help of this course i brought up my idea into reality so yeah i am feeling good with that.

Lessons on Business & Myself

i learned that i should have will to learn things in comming days and think to manage and learn much more on financial thing. I should work on myself about how to over come the temptation and i should not be lured to any things that easily.I should focus on growing the network too along with Titauta_treats.

[sudeep2004]

where will i get money from?

Starting a business is an exciting journey and i have taken the initial step required for it. It comes with its challenges, particularly when it comes to financing. I’ve started with a small budget, like the $50 I’m using to finance this venture,i need to explore other sources of funding to help my business grow. In this post, I’ll walk through the financial considerations I would take into account when selecting the right funding for a future business start-up, drawing on the insights from BDC's article 4 factors that could affect financing my start-up.

1. Business Model and Stage of Development:

A. It is a crucial phase and to start my business i need to fund myself or i should booststrap and i used my friends money and i have paid that.This method has it own advantages as i can totally own my business and it comes with the risk as personal money is invested. This method is called bootstrapping.

B. line or credit or loan: if i see good potential and if i wanted to expand the business then i can ask bank loan for my business.

i didn't think of other options and i choose the bootstrapping idea.

i had saving to start the business and the final product too is being couriered and now just the final step is of sales.

[sudeep2004]

Tiataura_treats Operations Plan: Ready to Launch! 

As we approach the final six weeks of this course, it’s time to focus on launching. Here's a quick look at our operations plan and how we’re preparing to bring our product to market. 

Product Sourcing: 

I have contacted the manufacturer back at my home and the products are being packed and ready to be shipped out. They are exotic and authentic candy which Nepali people love it, and they(consumers)are attached emotionally to it and i am filling the gap out of the market. If there is any issue, then I can prepare those candy out here and be manufacturer myself and distribute it from here, but I'll need some raw ingredient to prepare those candy/snacks which will be imported from Nepal. 

Team: 

I am working with my friend who is looking after the products and the manufacturing unit, and he is my investor for the first batch of the product. 

Product Development: If the raw ingredients have been imported then i can develop the product by myself and my roommates too are going to help me accomplish that thing.  

Marketing: As i have a Facebook page with 44K+ followers i can post the products there to just for marketing's sake and I'll also run some paid facebook ads to gain more customers. I will look after the marketing thing by myself. 

Logistics & Fulfillment: After the goods are being produced then i will store them in my apartment and for the fulfillment of the order will use the courier service or deliver the package by myself. 

I am working by myself in marketing, order fulfillment and my friend is working on the manufacturing end. 

Licenses & Permits: 

I’ll need a business license and a sales tax permit to operate legally. If we expand to food-safe products later, I’ll research additional health certifications. I am about take my smart server license and food handling certificate as soon the products arrive here. 

Tools for Launch: 

To start selling, I’ll need: 

E-commerce Platform (Shopify, Instagram theme page) 

Inventory & Shipping Tools: I have managed the place for my goods to be stored here in my apartment and I'll use post Canada and FedEx for my parcel to be delivered.  

Payment Gateway: (PayPal, wise, interact, crypto and cash) 

Marketing means: I will use Facebook ads and create some skit videos promoting or showcasing my products and do marketing those means and use Canva, Picsart and Kine master as tools. 

Mission: 

Our goal is to provide authentic flavor for those who miss their home. In the next six weeks, I’ll focus on securing resources, setting up our online store, and crafting a marketing plan. Titaura_treats is ready to make an impact "Where Spices Meet Tradition” & The Flavors of Nepal, Right at Your Doorstep! 

[sudeep2004]

Competitors 

Amazon

Strengths - Quick delivery. These containers are being sold on amazon so they are ready to be shipped and usually to the customer within a day or two

Weakness- They can't be personalized & they're not a local small business and they don't have the items in stocks most of the stocks were out of the stock or unavailable.

2. Hamro bazar

Strengths - Customers can be personalized in a lot of different options with many different container options for Nepali exortic foods and titauras.

weakness - Not a lot of local options which means you pay a lot for and it will take a while to get if you are away from their stores. It''s a new store and the products aren't there according to the consumer choice there are limited variety of goods.

3. Himalayan grocery

Strengths- Customers can feel the product and see what you're buying before you purchase. it a store where many Nepali authentic products are there.

Weakness - Not as many compartments and can't be personalized. the store is too small and the items too are very low. Its more focus on fulfillng the other needs rather than titauras.

I just want to capitalized one single market of tiraura and it too low here or its an untaped market and i want to dive deep in it.

[sudeep2004]

strengths and weaknesses

weaknesses

it is good to being with the bitter things and have sweet things later.

my weaknesses are i am open to anyone once i become comfortable without known things.

i do trust other people more than myself.

i cannot do things for consistently without seeing the result.

my strength

i am quick learner

i am good at talking to the people with my common interest.

i am good listener and observer.