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7 Start-up Sins by Sylvia Grubler

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7 Start-up Sins by Sylvia Grubler

  1. 1. SEVEN START-UP SINS sylvia gruber sylvia@rubybox.co.za @rubybox_beauty http://rubybox.co.za
  2. 2. WHAT IS RUBYBOX?
  3. 3. WHAT IS RUBYBOX?a monthly beauty box subscription for consumersfor R100 p/msampling, market research and other marketingservices for beauty brandsSA beauty e-commerce platform
  4. 4. WHO IS RUBYBOX?self-funded in Sept 2011 by two co-foundersamazing all-girl power team - currently seven staffsocially responsibleCape Town-based, delighting consumers all overSouth Africa
  5. 5. WHO LOVES RUBYBOX...thousands of very excited consumers (‘rubies’)communicating with us across various channels -tel, email, live chat and social media
  6. 6. ...and sometimes not so much
  7. 7. SIN: SAVING ON THE WRONG THINGS
  8. 8. SIN: SAVING ON THE WRONG THINGSYOUR TIME IS WORTH A LOT OF MONEY - alwaysfactor in opportunity costsDON’T SCRIMP ON THE CORE OF YOUR BUSINESS -pay peanuts and you get monkeys
  9. 9. SIN: CHANGING TOO MUCH AT ONCE
  10. 10. SIN: CHANGING TOO MUCH AT ONCECHANGE IS GREAT...BUT IT BEARS RISKSCHANGE GRADUALLY or be super prepared for anyand every outcome
  11. 11. SIN: HIDING
  12. 12. SIN: HIDINGHIDING DOESN’T WORK...IT JUST WASTES YOUR TIMECONSUMERS ARE CLEVERDON’T UNDERESTIMATE YOUR COMPETITOR’S INTELLIGENCEBEING UNDER THE RADAR CAN MAKE YOU LOSE OUT ONAMAZING OPPORTUNITIES AND COLLABORATIONS
  13. 13. SIN: PANICKING
  14. 14. SIN: PANICKINGTHERE WILL ALWAYS BE STRESS...LEARN TO LIVE WITHITDON’T PANIC...IT HELPS NO ONEHAVE A ‘THERE IS ALWAYS A PLAN’ MINDSET
  15. 15. SIN: UNDERVALUING THEIMPORTANCE OF A BRAND
  16. 16. SIN: UNDERVALUING THEIMPORTANCE OF A BRANDYOUR BRAND IS YOUR EQUITY even more so if youare a self-funded start-up - PERSONALITY VSPOLISHPEOPLE SHOULD IDENTIFY WITH YOUR BRANDLEADING TO LOYALTY
  17. 17. SIN: NOT LISTENING ANDCONVERSING WITH YOUR CONSUMERS
  18. 18. SIN: NOT LISTENING AND CONVERSING WITH YOUR CONSUMERSTHE CONSUMER IS BOSS...It does not really matterwhat you like or would buyLISTEN, LEARN AND HAVE AN ONGOINGCONVERSATION
  19. 19. SIN: GETTING SIDE-TRACKED
  20. 20. SIN: GETTING SIDE-TRACKEDDON’T WATCH COMPETITION’S EVERY MOVE, it willdistract you, waste your time, and potentially make youlose your directionSTAY TRUE TO YOURSELF - DON’T GO FOR CONFORMITYALWAYS FOCUS
  21. 21. BONUS SIN: PERFECTING
  22. 22. BONUS SIN: PERFECTINGDON’T THINK YOU HAVE EVER REACHED PERFECTIONRoberto Goizueta, Coca Cola former CEO, “We need tocompare ourselves against WATER, not Pepsi.”DON’T WAIT FOR PERFECTION, GO FOR TRIAL AND ERRORto get as close as possible to perfection, then MOVE ONWoody Allen, “If you’re not failing every now and again,it’s a sign you’re not doing anything very innovative.”
  23. 23. CREATE INNOVATE & REINVENTMOST IMPORTANTLY...HAVE FUN sylvia gruber sylvia@rubybox.co.za @rubybox_beauty http://rubybox.co.za

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