Backpack business idea prompted by frustration
Backpack business idea prompted by frustration
2. What prompted you to start up in business? After years of travel with bags that were miserable, non-functioning, or unattractive in a business setting, we decided to design one that worked for us and for other women business travelers. We spoke to many women who were looking for the same thing and got ideas. Then we made a prototype and had 20 women travel with it for 2 years while we ran our other business. After three prototypes, we manufactured them and began to sell them.
3. What was the market situation when you started up? Because we are entrepreneurs, we just went with our gut feel and the information we had from other women. We knew that there were many backpacks (rucksacks) out there, but most looked like college or camping bags. Women said they wanted one bag that could go from the plane, to the meeting, to the soccer field, and the grocery store. So we designed one.
4. Do you have a vision for your business and if so, what is it? Our vision is to sell bags via the web and through women's conferences. We will only add products our customers ask for. We want to stay small and personable, remaining close to our customers. We have tried retail and distribution, but the most profitable way to sell a small product line like this is though the web. Our hope is to make the WiseWomen foundation viable so that we can fund individual women as they explore travel for personal development and growth.
5. What was the biggest obstacle you had to overcome and how did you do it? It was difficult to start this business while trying to grow another to sell. We employed my daughter to produce the bag and set up the business. She did that part beautifully, but she had no interest in selling the product because she wasn't the profile of our customers. I had to fire her...unfortunately that was on her birthday...now, thankfully we joke about it. We had the bags in a retail operation and they sold well, but the parent company took over the local stores and kicked us out after they wanted to steal the design for their own and we said NO!. We have learned how challenging the retail market is and how different manufacturing is from the service business we ran so successfully in the past.
6. How did you find the finance to get started? Luckily we had a highly successful business already when we went to the bank to finance WiseWomen. We got whatever we wanted, whenever we wanted it. Our bankers all got WisePacks™ too. The day we signed the loan papers we were on top of the world, then we got side tracked with selling our other business and the payments became an irritant. We paid off the original loan with the proceeds from the sale of the our business and are funding WiseWomen ourselves now.
7. What are your personal qualities that have that have helped you to succeed in business? After running a large consulting company for 21 years with my partner, I have a good understanding of what it takes to run a service business. With that in mind, we are keeping this business small, and relying on our skills to make it happen. We have hired consultants, paid good money with limited results. The success really lies in our ability to get the word about this product out there. The qualities that I possess that have helped launch this business are: Blind faith, guts, good reputation and well networked with our customers, creativity, innovation, resourceful, belief in the product, positive attitude, good communication skills, both oral and written, persistence and an "abundance" vs. "scarcity" attitude.
8. How do you keep going when things get tough? My partner and I believe in this product and our mission to create the WiseWomen foundation. Nothing in this business is as tough as running a big business like we did in the past. I'm also very glad I have a trusted partner, confidant, and good friend in the same person.
9. How do you measure success? Watching the sales come in from the web and seeing the growth from year to year are the things you can measure. Reading the comments from happy customers are the squishy things that can't be measured, but make us feel successful. In my past business the greatest measure of success was selling the company for the highest value possible.
10. If you had one piece of advice for a woman starting out in business, what would it be? Women get excited about an idea or passionate about a product, and being the resourceful people of the world, we can turn ideas into realities. What we tend to forget is that someone has to want our ideas. They need to buy our products. We need to generate revenue. That means that a marketing plan is as important as a product development plan. When people ask you, "So how are you going to market your idea?" You need an answer.
Backpack business idea prompted by frustration - To learn more about this author, visit Sue Stockdale's Website.
Like this article? Share it with your friends
1. What is your business? Myrna Marofsky and Karen Stinson are founders of WiseWomen. It is an e-commerce business selling the WisePack™, a perfect travel backpack (rucksack) purse for women. The bag was designed for women by women and has many features that make it both fashionable and functional. Myrna explains...."Recently we added a Mini tote/shopper to our products in response to requests from our customers who asked for a small tote that could be tucked inside of the WisePack™. We attract customers through our web site, blogs, articles and word of mouth. The WiseWomen Foundation returns 15% of supporting organization purchases to them."
2. What prompted you to start up in business? After years of travel with bags that were miserable, non-functioning, or unattractive in a business setting, we decided to design one that worked for us and for other women business travelers. We spoke to many women who were looking for the same thing and got ideas. Then we made a prototype and had 20 women travel with it for 2 years while we ran our other business. After three prototypes, we manufactured them and began to sell them.
3. What was the market situation when you started up? Because we are entrepreneurs, we just went with our gut feel and the information we had from other women. We knew that there were many backpacks (rucksacks) out there, but most looked like college or camping bags. Women said they wanted one bag that could go from the plane, to the meeting, to the soccer field, and the grocery store. So we designed one.
4. Do you have a vision for your business and if so, what is it? Our vision is to sell bags via the web and through women's conferences. We will only add products our customers ask for. We want to stay small and personable, remaining close to our customers. We have tried retail and distribution, but the most profitable way to sell a small product line like this is though the web. Our hope is to make the WiseWomen foundation viable so that we can fund individual women as they explore travel for personal development and growth.
5. What was the biggest obstacle you had to overcome and how did you do it? It was difficult to start this business while trying to grow another to sell. We employed my daughter to produce the bag and set up the business. She did that part beautifully, but she had no interest in selling the product because she wasn't the profile of our customers. I had to fire her...unfortunately that was on her birthday...now, thankfully we joke about it. We had the bags in a retail operation and they sold well, but the parent company took over the local stores and kicked us out after they wanted to steal the design for their own and we said NO!. We have learned how challenging the retail market is and how different manufacturing is from the service business we ran so successfully in the past.
6. How did you find the finance to get started? Luckily we had a highly successful business already when we went to the bank to finance WiseWomen. We got whatever we wanted, whenever we wanted it. Our bankers all got WisePacks™ too. The day we signed the loan papers we were on top of the world, then we got side tracked with selling our other business and the payments became an irritant. We paid off the original loan with the proceeds from the sale of the our business and are funding WiseWomen ourselves now.
7. What are your personal qualities that have that have helped you to succeed in business? After running a large consulting company for 21 years with my partner, I have a good understanding of what it takes to run a service business. With that in mind, we are keeping this business small, and relying on our skills to make it happen. We have hired consultants, paid good money with limited results. The success really lies in our ability to get the word about this product out there. The qualities that I possess that have helped launch this business are: Blind faith, guts, good reputation and well networked with our customers, creativity, innovation, resourceful, belief in the product, positive attitude, good communication skills, both oral and written, persistence and an "abundance" vs. "scarcity" attitude.
8. How do you keep going when things get tough? My partner and I believe in this product and our mission to create the WiseWomen foundation. Nothing in this business is as tough as running a big business like we did in the past. I'm also very glad I have a trusted partner, confidant, and good friend in the same person.
9. How do you measure success? Watching the sales come in from the web and seeing the growth from year to year are the things you can measure. Reading the comments from happy customers are the squishy things that can't be measured, but make us feel successful. In my past business the greatest measure of success was selling the company for the highest value possible.
10. If you had one piece of advice for a woman starting out in business, what would it be? Women get excited about an idea or passionate about a product, and being the resourceful people of the world, we can turn ideas into realities. What we tend to forget is that someone has to want our ideas. They need to buy our products. We need to generate revenue. That means that a marketing plan is as important as a product development plan. When people ask you, "So how are you going to market your idea?" You need an answer.
Backpack business idea prompted by frustration - To learn more about this author, visit Sue Stockdale's Website.
Like this article? Share it with your friends
 | |
 |
No article feedback found. |
| |
Leave Your Feedback |
 | |
| |||
Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
|||
David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
|||
Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
|||
Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
|||
Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
|||
David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
|||
Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
|||
Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
|||
|
To learn more about the Evan Elite Author Program please contact us. | |||
 | |
|  |
Subscribe to Sue's articles
 | |
|
|  |
 |
|
Sue Stockdale Video - Polar adventurer and motivational speaker Sue Stockdale speaking at Millionaire Mind Event in London about building trust in your team on an expedition and setting up systems to make expeditions and business easier.
|
|
|
 | ||
|
||
 |
||
|
||
|
| ||
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
|
|
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"
Click Here To Learn More |
|
|
|
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
 |
 Managing Customer Relationships Creating Rapport Guide Building Business Relationships Optimus Performance Crazy Busy |
|
 | ||
 |
More PR Resources
Press Release Builder | |
 |
Top 50 SEO Posts - 2008
Top SEO Posts of the Year | |
| ||
 | ||||
| ||||
|
| ||||
| ||||
|
|
|
|
|
||||||||||||
|
Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
|
|
|
| ||||||||||||
| ||||||||||||
|
|
||||||||||||