I'm excited to introduce you to Sarah Foster today. She is the owner and founder of Bad Bad Jewelry, a unique niche brand of jewelry with a message.
You'll walk away from this podcast knowing:
How Sarah was able to nail down her niche and how, once she did, she had found her one thing that made her business take off.
Sarah also shares where she sells her jewelry and how she was able to scale her business online.
Sarah was able to land her jewelry in BuzzFeed with just a photo of her product taken with her iPhone. You'll get all the details about that as well in this episode.
You'll also learn how she keeps her sales going long after the holidays are over.
Sarah gets very vulnerable and shares how she has suffered from burnout, and what she is doing about it.
You'll discover what social media websites work best for Bad Bad Jewelry.
Sarah also shares what lessons she has learned from the school of hard knocks.
We spend some talking about FEAR and how it holds so...
Today I want to talk to you about mistakes that I see product-based business owners make over and over again.
I've compiled a list of some of the top mistakes that I see. I wanted to share them with you, so hopefully, you won't make any of these mistakes, and if you are making them, you can fix them.
First mistake - Not pricing products so that you have enough gross margin in your product
So what do I mean by gross margin?
It’s all about pricing your products correctly. I like to start with my product and figure out what is the perceived retail value of this product. I take retail price and divide that by two, and that would be your wholesale cost/price. Then you divide wholesale by three, and the cost of goods for your product shouldn’t be more than that.
Sample- Retail Cost is $10, divide by 2 = $5 which is your wholesale cost, now divide the wholesale cost by 3 = 1.66 your cost of goods shouldn't be any higher than 1.66 or...
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