S1 E4 // Business is a Money Game (but also a life-long passion game)

"Business is a money game, but it's also a life-long passion game."
- Emily Thompson

We’re busting out the numbers and calculations in this episode! We’ve been talking about mindset and boundaries and more of the thinking and planning aspects of a product business. Now we’re going to dig into the specifics of pricing—both for retail and wholesale, figuring out your profit margins, and balancing supply, inventory, and distribution.

 

The more you box your new business idea in, the more you’re cutting it off at the knees. -E

So much of what your business can become depends on you actually getting it started and seeing what the market wants and what people are responding to. -E

Business is a money game, but it’s also a life-long passion game. -E

 

FREE RESOURCE: What’s Working / Kinda / Not

 

TOPICS DISCUSSED IN THIS EPISODE:

  • Coming up with the name of a business
  • Developing the look and feel of a brand by bootstrapping it
  • Getting clear on what you want to sell
  • Retail vs. wholesale and how to calculate prices and markups
  • All about profit margins
  • Supply, inventory, and distribution
  • What happens when your supplier runs out of stock
  • Online vs. offline sales
  • Making revenue goals
  • Competition and stealing ideas
  • Partner agreements
  • Product subscriptions
  • Emily's launch week
  • Holding a pop up shop
  • Marketing your business

RESOURCES DISCUSSED IN THIS EPISODE

MORE FROM KATHLEEN

Braid Creative

MORE FROM EMILY

Indie Shopography
Almanac Supply Co.
Rock Your Web Design Business

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Get your business started and see how people respond
Business is a money + passion game
Business is a money + passion game

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