Tammy : Hi Everyone, this is Tammy from the Uniproasia, I hope you all are having a great day! Today’s topic is about products and brands, and this is not the typical brand topic as we have already discussed that in our previous topics. Anyway, if you are planning to open a business, or build your own brand, then listen today because we will be throwing some ideas on how to start your start up business, of course, I’ll be discussing this with Ray who will share meaningful things about this topic.
Ray : Hi Tammy and hi to all our listeners out there. I hope after listening to this discussion, it will give you ideas on how to start your own business. And you don’t need to wait for some miracles to happen before you make your first step. I would probably say that building your business from the ground up will face you challenges and trials.
Tammy : Well, that’s true, actually even if it’s not business, we will be encountering challenges in life, but passion is the key. If you have the passion and goals, a big chance you will be successful.
Ray : That’s right, if you are planning to start your small business and thinking that it will be hard for you, or you haven’t started yet and are already facing challenges. Just hold on and push yourself. No successful business that didn’t face any trials. You and saying that goes “Try and Try until you succeed”
Tammy : Yeah, what I know is the “Try and Try until you die”, 🙂 No, kidding aside. Sometimes we get scared to try new things, maybe because we don’t know if it’s going to work or not. And trying might cost a lot of money. But you wouldn’t know if it will be successful or not if you haven’t tried. Right?
Ray : Yes, of course, you have to try. But before you try, you have to understand and know well what products you want to sell? It will be easier if you know the things you are good at, for example you are good at marketing, then open a business like a marketing agency. Or if it’s a product. Go first with what product you know best.
Tammy : Like if you are a gamer, then go with a product that is about games or computers, computer accessories and gadgets. Or maybe if you love clothes, then go sell clothes and make your brand.
Ray : There are so many options there in the world, but if you want to go out of your comfort zone, and want to try something new or something that you think is in high demand, Research and studies are needed here, invest in time as well.
Tammy : That’s true. Because you need to be familiar with these things. You have to have the knowledge, and understand the product, understand your customer’s needs.
Ray : Now, let’s give an example. Maybe let’s talk about some nice useful products right now.
Tammy : Cellphones?
Ray : Hmmm, maybe not, that is probably a super challenging product if you’re going to make it your own brand.
Tammy : Clothes?
Ray : Well, it also can be, but you have to think first : Do you think the demand for the clothes is still higher given the situation right now?
Tammy : Oh yeah, well here, people don’t go out anymore, or if they do, very seldom, so clothes would probably not be a good product right now. What about earphones?
Ray : Okay, that’s a better suggestion, and this is what I’m telling you, you have to think of a product that sells best or has a demand. Or if not, then you have to know how to sell your products, and how to attract people from buying. So, anyway let’s talk about earphones.
Tammy : Okay, this is actually very interesting as this is useful nowadays, most of the people are working from homes, or doing online classes etc. so earphones are a good example.
Ray : Okay, we already know that there are a lot of brands of earphones available in the market. Don’t worry about that. You can still make your own branded earphones.
Tammy : Let’s be clear that you will not make earphones here, instead you are going to put branding on the product, and how are you going to do that?
Ray : First, in our previous podcast, we talked about joining a virtual expo or fair. If you are not interested in that, you can find suppliers on the internet.
Tammy : That’s actually a good thing these days, you can easily find things online. And that’s very important right now, being technology savvy!
Ray : Correct, Go online. First find a reliable supplier. So let’s list down the step by step process on how to get started with your business planning.
Tammy : Sure, this will be very exciting for all business minded people.
Ray : Of course, Let’s go to step one first. Plan your business, including business strategy, how much money are you going to invest, are you going to find investors, or you alone? Are you planning to sell locally or planning to sell internationally as well? This are the points to consider.
Tammy : Then maybe step 2 will be, plan your brand? Find reliable suppliers or manufacturers, try the product if it pass your expectations.
Ray : That’s correct, and register your business, but before you do that, go make your brand and trademark, then register your business. You have to know as well which place is the best place to register your business, and we have already tackled that topic in our previous podcast.
Tammy : Yes, you can check our previous podcast for some of our business related topics.
Ray : Yes, also you have to open up your business bank account, it will be better if you are planning to go internationally, then make sure your business bank account can be accessible internationally, meaning, buyers can wire transfer to you bank account.
Tammy : Anyway there are a lot of 3rd party online banking which you can use, like maybe paypal or whichever is okay with you.
Ray: Yes, correct. Go find which is convenient for you.
Tammy : Then after, go build your website or maybe marketplace, or amazon? Lazada? And shopee?
Ray : But if you like to sell in a brick and mortar set up, then open a shop. But I suggest you innovate, go digitally. It will give you more sales, especially the situation right now.
Tammy : True!
Ray : There are free websites that you can find online that you can try first, however there are restrictions to follow.
Tammy : You may also try good websites that offers good services like shopify or many more. Then go sell your Products!
Ray : See? well if you will think of it it’s simple, however remember that you will be facing challenges along the way, but the best feeling ever is when you get the success you are aiming for!
Tammy : Yes! That would be the greatest feeling when you become successful. So goodluck everyone!
Ray : Goodluck and wish you all the best! Go plan your business, dream big!