Start A Business For $100?

Carolynn set herself a goal of starting a business with $100. Then she did it.

She’s writing a blog of this effort at “The Hundred Dollars Business Blog“.

The $100 business is a consignment kiosk at a local mall here in Utah. She got the vendors to sponsor her rent and provide the inventory.

I stumbled on her blog because it’s become a kind of service project for all the local bloggers to spread the word.

Positive word of mouth will benefit you every time.

Carolynn’s also learned that:

1. Packaging blocks the client from interacting with the product. They need to pick it up, hold it, try it on, etc.

2. A gimmick will grab attention, but not necessarily close a deal. And if you’re obvious about it, it doesn’t even grab attention, it just bugs them.

3. Too little inventory has “ghetto” written all over your store. We only had one vendor’s supplies for a few days, and kept getting feedback that we needed more stock. Check!

4. If you approach the customer the second they walk over to the kiosk, it scares them away. (This usually doesn’t apply to our friends, though.) Give them a second to acclimate, and then be subtle in your approach.

5. Don’t first tell the customer about the products you like or that you would buy. First evaluate what they like, who they’re shopping for, what they like, etc. It’s like a conversation, except that what you have to say is extremely secondary.

6. Be quick about the check-out. Fumbling with credit cards and receipts doesn’t inspire them to come back.

It’s surprising what motivation can do. Then again, maybe it’s not.