1. What possible setbacks/mistakes could occur with your product?
Some setbacks I could have are:
- No customers
- No profit
- Competition is better
Why might these occur?
I may get no customers coming to my stall, the desserts themselves may be very expensive to make which may leave me with very little profit and others may have cheaper prices making a high competition.
What could you do to mitigate?
I could have more advertisement and stalls, I could use less quality ingredients to sell them for cheaper and I could check constantly against other competing stalls to make sure that I have the best price.
2. What are 3 other variations on ‘Your Thing’ that you could pursue instead?
- Making a product to sell for my partners instead of selling the product myself.
- Making savoury products instead of sweet.
- Change my old dessert designs for new ones.
Positioning
My products would be on the mid to high end of the scale as my target market would have quite a bit of money.
Product
My products are desserts which all have a healthy aspect about them. It would look colourful and very appealing to customers.
Price
My average price for a dessert would be $8.00 as they are all handmade and take a long time to make, as well as using high quality, expensive ingredients.
Promotion
I would promote using social media (Instagram and/or Facebook.) I think this is where I would find most of my target audience.
My shop has a very wide target audience. Although, If I had to choose it would probably be 13 – 30-year-olds. I know that both men and women like this but if I had to choose it would be to women as I think they pay closer attention to detail and what they eat. I know that most people find it very hard to eat healthy especially when it comes to sweet things. That’s why I have chosen to pursue this idea; to make eating healthy, easy! I have done this by making some things gluten-free, vegan, sugar-free etc. I would communicate with them using social-media platforms such as Instagram and Facebook pages. My message would be rational.
1 – Goodies ‘n’ Grains
2 – The Healthy Bakery
3 – Desserts with a Twist
Vision – My vision will be to make bake healthy things.
Mission – Once my product becomes a thing, my mission will be to help people stay healthy while still be able to eat the things they love.
An Entrepreneur is someone who gets an idea and tries to do something about it.
There are a lot of skills and attributes that are needed for an entrepreneur to be successful. Here are some:
- To make their product or service stand out from the others out there.
- To sell and advertise to people so that they will go and tell other people about it.
- To be able to find a good issue in the world, and find a way to a good yet convenient way to solve it.