Wednesday, September 24, 2014

Limited editions

     Free daily tips, information, advice, ideas for people in small business
     from personal experiences starting, operating, growing and writing about businesses.

     Anyone can create a limited edition product. Whether or not it will sell is another matter.

     If you have an idea to produce something new, then by all means do it. When you are truly a master of your craft, sales will happen. Or they might not. 

     It's the market that rules. Artists still starve in their studios waiting for the buying public to discover their genius. If you can create something new and better, and it grabs the public's attention, then you're on your way. If they don't show up, you're not. 

     Example: Tom had a passion for motorcycles and owned a couple. But his business was custom restorations of vintage and antique vehicles. When he had the time and inclination, he built a custom motorcycle for himself. At rallies, it attracted lots of attention. Tom began taking orders for custom bikes and gradually transformed his business entirely. Today, he no longer restores older vehicles. Instead, his shop is devoted to the design and production of custom motorcycles for racing enthusiasts, weekend riders, collectors, and others. Tom matched his talents to a market opening and transformed his business into a new one.

     To build your future, be alert to market trends and the interests of customers/clients. If you listen carefully with your ear to the ground, they will alert you to opportunities you might not otherwise see.

     Example: Jeanine makes gold and silver jewelry in her small home studio. With lots of experience behind her, she turns out rings, earrings, bracelets and other pieces for discriminating clients. Jeanine met Isabel, a compatible business partner, who hand-paints silks, leathers and other materials as accessories. Together, the two women opened a small working studio open to the public. It attracted immediate attention. Their combined customer base was similar, yet they did not compete with each other. People were drawn to the handmade limited editions offered, and they referred others. The two women maintain separate Facebook pages, and this brought more people to the studio. Recently, they met Ed who produces fine wood turnings that are sculptural displays. Now, three limited edition artists are combining their talents into a single destination for the discriminating buying public. 

     Two or more limited edition creators can complement other talents and attract more attention than can any one acting alone. Always remember, however, that your talents are vehicles for your creativity, but the vehicles are powered by the buying public. 

     Many examples are used throughout these write-ups. They are drawn from real businesses. The names of people are always changed, of course. And sometimes I embellish with additional information. But the kernel of a real business is always there. 


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