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Misala: developing your homegrown brand
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Misala: developing your homegrown brand

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In the slides, Michelle shares her experiences working with her husband starting their own design brand from absolutely nothing, Sanford explains his system to develop a homegrown brand and shares …

In the slides, Michelle shares her experiences working with her husband starting their own design brand from absolutely nothing, Sanford explains his system to develop a homegrown brand and shares some forward thinking tips for new designers.

By Misala Handmade Bags & Purses www.misala.cc

Published in Business
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  • 1. Posed for Growth A d i s c u s s i o n o n d eve l o p i n g yo u r h o m e - g ro w n b r a n d Misala Handmade Bags & Purses 2013Saturday, January 19, 13
  • 2. Discussion Outline About misala Starting up a home-grown brand Think outside the box to grow your businessSaturday, January 19, 13
  • 3. About Us 2009: Relocation to UAE 2010: Michelle started her craft projects at home, targeting the local craft fair 2010 Q4: Opened Etsy Store 2011 Summer: Store management taken over by Sanford 2012 Opened online store at www.pinkoi.comSaturday, January 19, 13
  • 4. 1000+ Pieces sold to 40 countries Retail stockists in US, Canada and AustraliaSaturday, January 19, 13
  • 5. Saturday, January 19, 13
  • 6. Building your Brand from the Ground UpSaturday, January 19, 13
  • 7. Business Management is Crucial! Treat and manage crafty business with professionalism. Once you have started selling online, you are not an amateur any more! If you are only selling to cover your costs, you are not earning your well-deserved wages as a designer Add values to your creation by managing your brand professionallySaturday, January 19, 13
  • 8. Branding Theory Core: Product 1st Layer: Presentation / Brand Perception 2nd Layer: Pre- and Post- Sales Customer Service 3rd Layer: Advertising for Brand Awareness!Saturday, January 19, 13
  • 9. Properties of a Good Product Uniqueness Appealing Aesthetics Craftsmanship and Quality Control Created with Best MaterialsSaturday, January 19, 13
  • 10. Professional Craft Jargons Techniques Knowledge Is the Key! Sharing Gaining with Colleagues ExperienceSaturday, January 19, 13
  • 11. Be Original! Respect the intellectual rights of other designs so they will respect you! Source: http://www.littleoslo.com/cnt/home/hello-kitty-%E8%88%87-miffy-%E5%92%8C%E8%A7%A3Saturday, January 19, 13
  • 12. Marketing is a study on human psychology Customers visits a shop with a specific purpose. Cater to their needs to find the way to open their wallets. Finding Inspiration Wanna Spend! Buying a Gift Bookmarking My friend Cute!!! will love thisSaturday, January 19, 13
  • 13. A Simplified Flow of a Visit to your Site Page Loads No Lovely Products I’m Leaving Yes Now! Seller No Trust worthy Yes Well.. will think about it No Fantastic Price Yes Where’s my Credit Card??Saturday, January 19, 13
  • 14. Product Selection Product / Brand Story Logo Proper English Website Trust Seller Policy User FeedbackSaturday, January 19, 13
  • 15. Online Promote in Social Net work Advertising Person Nobody knows the great stuffs you are making if you were working as an isolated island. Be a lighthouse instead!Saturday, January 19, 13
  • 16. Growing Beyond a Garage BusinessSaturday, January 19, 13
  • 17. Crafty Business in UAE Cons Pros Not the best environment to Mysterious Middle East foster creativity A central position in the world High small business start-up cost Small, highly concentrated city for every needs Not ideal postal system High living standard Higher cost of living compared with Asian countriesSaturday, January 19, 13
  • 18. Strengths: Weaknesses: Creativity is limited only by Unstable and imagination; many ways to unpredictable income market and sell what you do Opportunities: Threats: High growth of the Being copied industry worldwide Another economic crisis Market in UAE is under- developedSaturday, January 19, 13
  • 19. Production Cost(Hourly Wage+Materials)x 2 = Wholesale Price Wholesale Price x 2 =Retail Price Designer designing a killer product deserves top designer wage Handmade should never compete with mass-produced products in price Cater to smaller wallets with different price points, not low pricing Discounting is a power secret weapon and should always be used with a marketing strategy and purpose. It should not be used as a short-term boost to traffic.Saturday, January 19, 13
  • 20. Sales fluctuates seasonally depending on your market segment and geographic location In general, slow months are from April till October and are the best months to develop your foundations. Your efforts will be realized between November and March and sales will flow through if you were doing it all right. Marketing and promotion strategies should consider the needs of customers in the festive days, often requiring months of planning ahead of time. Logistics should also be arranged early to ensure prompt delivery Summer JAN Back-to-School Halloween Valentine’s Easter Break APR JUL OCT Thanksgiving APR Christmas & New YearSaturday, January 19, 13
  • 21. Open Up Your Mind Be aware of world news and have a thought about how they can affect world economy. Look globally and not just your local market Stories of other successful people could help. Instead of copying completely their strategies, incorporate and adopt them into your business according to your specific needsSaturday, January 19, 13
  • 22. Case: American Apparel Strategy: Vertical Integration Boost Local Employment Cost and Quality in ControlSaturday, January 19, 13
  • 23. Case: Zappos Strategy: Custom Service Oriented Free Shipping & Returns Best Advertising is Words of MouthSaturday, January 19, 13
  • 24. A craft seller is both a Brand Manager and the CEO of your own business Growing it beyond your garage requires changes in the mindset from an individual to an entrepreneur. The fact that you can do anything from your home does not mean it is not a serious full time job. Instead, your own business will take even more time and energy than working at a company Invest for the long term; take a macro view of your full business position. Be persistent and do not get discouraged by little things Provide excellent service for even the most difficult customers. Turn them into your most loyal fansSaturday, January 19, 13
  • 25. Additional Readings Work Your Art http://www.workyourart.com/ Mixergy http://mixergy.com/goto/welcome/ Designing an MBA http://designinganmba.comSaturday, January 19, 13
  • 26. Contact Us michelle@misala.cc www.misala.ccSaturday, January 19, 13