If you want to be a successful physical product based business owner- you must know your best sellers... it's that simple!
Product based business owners must track their best selling products in order to avoid poor sellers filling their inventory, consuming their time and killing their profitability.
How are you keeping track of the physical products you sell?
As a product-based business owner, it is crucial to have a solid system in place for tracking your best-selling products. By doing so, you can stay ahead of the game and ensure that your inventory is always optimized for success.
There are various ways to keep track of the physical products you sell, from using inventory management software to implementing barcode systems or simply maintaining detailed spreadsheets. Whichever method you choose, the key is to regularly analyze sales data and trends to make informed decisions about your product offerings.
Quick Tip:
Every product based business owner must stay organized and be proactive when tracking your best sellers and monitoring your inventory, because this can greatly contribute to the overall success and profitability of your business.
So, what's holding you back from tracking and understanding your product sales?
That's why you're here, right? To discover a few simple tips to stay on top of your sales and inventory numbers so that you can start building a profitable product based business online.
This is TIP#2, a part of a FREE series of 10 INSANELY VALUABLE TIPS
(click this link & grab your free access asap)
Hello, I'm Christine- I'm glad you popped over to THE QUICK CREATIVE Product Design Insiders Blog for some tips I know you'll find valuable as a product-based business owner.
Running a small business is probably the craziest idea you've ever had. You love it, but you feel so overwhelmed with all the details and next steps that seem so foreign to you. How on earth are you suppose to be on top of everything while still running your business? Well, that's where I can help:)
If you want to know why you should feel confident taking advice from me, then take a moment to learn more about my extensive background in physical product development & business strategies.
Look, I know how valuable your time is, so I've made this blog post super convenient for you to listen on the go while taking care of your daily business tasks, like shipping out orders or making new products to sell.
If you haven't already subscribed and received my incredible FREE AUDIO, VIDEO & PDF Training to become the best possible product designer & business owner- here's a quick link to get you started with steps 1-10.
This is 1 of many FREE Resources I have created FOR YOU if you’re just starting out & struggling a bit- don't overlook these tips & tools!
10 FREE Quick & Simple Tips to Building A SUCCESSFUL PHYSICAL PRODUCT BASED BUSINESS.
Too often, critical steps are overlooked & it may be what's holding you back. I will outline simple action steps you can take to help you focus on the important tasks in your creative business- And look, I know that sometimes it's hard to decide what to focus on because you're wearing so many hats in your new business.
I will break it down for you in simple step by step actions with worksheets that won't leave you feeling overwhelmed.
Plus, I know you'll love the free printable INDEX CARD tools as your little secret weapon so you stay on track & GET organized with YOUR TASKS.
You may even discover that you've been overlooking some of these critical steps. So, let's get them back into being a part of your routine as a successful product-based business owner.
CREATIVITY & BUSINESS STRATEGIES GO HAND IN HAND & TRUST ME, IT'S NOT AS COMPLICATED AS YOUR FEAR MAY BE TELLING YOU.
If you're interested in learning more about simple ways to start keeping track of your best sellers- Stay with me & let's dive into TIP #2.
TRACK YOUR BEST SELLER TO AVOID POOR SELLERS WHEN BUILDING & GROWING YOUR PRODUCT-BASED BUSINESS ONLINE.
You will want to make these SIMPLE steps a part of your daily practice to meet your goals. Remember: You have to be organized and disciplined to run a successful creative business online.
PROPERLY TRACKING YOUR TOP SELLERS IS FUNDAMENTAL TO YOUR SUCCESS- because your business is all about designing and selling physical products that meet your customers needs.
The full video, audio training and the 10 steps printable card deck is available in the link below.
In order to develop a successful product based business you must know & track your top sellers.
When you understand what your customers are buying, liking and coming back for more, you're setting your business up for growth.
By monitoring each product sales you will not only gain clarity as to how to build your business moving forward but this knowledge will also keep you motivated & accountable as you work towards growing your business with cash coming in on a regular basis.
QUICK TIP:
Keep track of the physical products that sell well- but you need to set some guidelines for determining if you truly have a "top seller" on your hands.
Answer these simple questions when analyzing your product sales:
Does this product sell all year round?
Do you have enough inventory to support your consumers interest?
Is this product profitable for you?
Can you sell more of the popular item? If so, how?
Can you expand this top seller into other colors, a full collection, bundles, or a new twist?
REMEMBER:
Your Best Sellers Are Only As Good As The Original Product You Decided To Sell.
Let me explain...
What I mean by this is your "top sellers" can be "poor sellers" for a number of reasons or decisions that were made along the way:
REASON 1:
Maybe you're not selling your products where your ideal customers are hanging out. Look into this, because being on the right selling platform is key to growing your sales. You might be happy with the sales you're seeing right now, but imagine the growth you can experience once you understand and target the perfect marketplace to sell to your ideal customers.
REASON 2:
Perhaps you designed a product on whim and it doesn't line up with what your customers expect from your business. When establishing your business you want to give your customers what they expect from you. So, stay in your lane to attract a specific clientele.
For Example: If you sell & market earrings, keep doing that until you've become really good at delivering this product format to your customers. It would confuse them, and potentially give them a reason to no longer follow your business, if you suddenly went from selling earring to ceramic vases. It's not to say you can't expand into other formats in your business, you can and I hope you will. Just keep to formats that continue to attract the loyal customers you are working so hard to retain. So, once earrings are rocking your sales charts, expand into another jewelry format or new style of earring to keep the sales momentum going.
REASON 3:
You may need to gain visibility to increase your sales by diversifying the marketplaces & sales channels your are currently selling at. I can't stress this enough. Gaining proper exposure is a product based business owners best friend when establishing top sellers.
REASON 4:
Your best sellers may not be making the $$$ you expected a best seller to bring in. You need to track this and evaluate if you should continue to offer that product.
REASON 5:
At some point you will need to consider if you are designing the right products to market the right customers to maximize your sales. This is a real issue to address because product designers tend to get attached to their products even when they're not performing.
Go Through each of the questions listed below with an open mind & a focus on your sales numbers.
There's a worksheet available to help you track your best sellers.
If you're a pen to paper person, like me, then the 10 STEPS INDEX CARD WORKSHEETS makes tracking your top sellers real simple and easy.
I hope by taking this pen to paper action, you will also stay focused on developing products that have the potential to becoming your top sellers VS designing on a whim... which many of us creatives are guilty of :(
The full video, audio training and this 10 steps printable card deck is available in the link above.
I walk you through this exercise on the video/audio training.
Work on tracking your best selling product designs from the very beginning. Don't leave anything to chance. Take the time required to master your sales numbers and learn to apply that knowledge into the next product format you decide to design.
It's all about discipline and strategy my friend!
The marketplace is becoming increasingly competitive day by day and even the slightest edge over your competitors can make your small business more appealing to your customers and allow you to grow your sales.
I know you can do this. Stay on course!
Whether you’re launching a new product offering, considering a wholesale opportunity, or brainstorming a new product line, I want QuickSource.co to be the place to go for creative business advice and insight into what really matters when scaling and growing your physical product design business online.
You can trust I have the experience and knowledge you are looking for. If you don’t know me by now, pop over here, and see how my 3 decades of creative product development has built millions in sales for so many companies that I have had the pleasure of working with.
I am VERY familiar with all the challenges of building and growing a physical product based business.
Consider me, Christine at QuickSource.co, as your year round creative business stimulator providing you insight and pro-tips that will truly make a positive impact in your day to day tasks as well as the growth of your overall business.
I hope you found this helpful. Please LEAVE A COMMENT so we all grow.
It's time to show your products to the world!
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