EFE
WRITES…
Dear Mr. Cutter,
I have started a new shoe and bag business.
The material I am using to design my wares is made of straw. Now, my challenge
is I do not know how well this will sell on the market. Also, I hear it is very
difficult to secure loans from the banks for such a business. Moreover, the
competition in the shoes and bags industry has become very keen. I have already
produced 500 pieces, but I do not know if my business will ever see the light
of day. Please help.
MR. CUTTER REPLIES,
Hello Efe,
I can see you are a very scared person and
that is not good for business. Being an entrepreneur is not an easy task, you
must be bolder than this. All of the issues you have outlined in your letter
are just mirages. You are not a risk taker I presume, but you have to know that
all businesses did not just spring up; they started from somewhere.
It doesn't matter where you go, you will
always be faced with competition. Don’t look at what others are doing, just be
yourself, be creative, find what makes you comfortable and find different ways
of designing your wares. Sometimes, it is very difficult for people to accept
something they are not familiar with.
However, with time, they will come to accept it.
You talk about not finding market for your
wares but you can start from home. Nobody gets products or services going viral
like family and friends. Give them some of your wares to model for you, if
people are interested, they will ask for you. You can also use social media
platforms like WhatsApp, Twitter and Facebook to market them. Update your new
wares constantly so people know you have more to offer. Also, make sure you
leave your contact details on the images you upload, where it would be easy to
contact you.
Financial institutions can sometimes be a
nightmare if you are looking up to just them for help. However, I will
recommend that you look within for funds. By that I mean asking trusted people like
family and friends. You can also apply to the rural banks and small financial
institutions whose focus are on start-ups just like yours.
Yes! your business will and can see the
light of day, only if you are willing to take the risk and show the world what
you have. Good luck!
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