| I have my own snow boarding business and I have | | | | likely to try and eat into my profits. I also felt that |
| had this for around 1 year now. I used to be a | | | | through doing this they would feel that the potential |
| management consultant before I decided to take the | | | | to enter into my market was less lucrative. I also |
| plunge and went for a business of my own. Before I | | | | have deals with them where I give them very cheap |
| done this I was very nervous and really had no idea | | | | rates on their stocks, and in actual fact I make zero |
| about the level of results that I was going to attain. | | | | profit from the sales that I make to them. This gives |
| The fact of the matter is that around 20% of | | | | them the impression that I have substantially better |
| businesses fail in their first year, and I did not want | | | | profit margins than they could attain, and puts them |
| to be one of those business owners that were left | | | | off competing. |
| having no results, and a heap of debt to handle. | | | | Another way that I have had a certain level of |
| Luckily enough my business has been successful so | | | | success is through my online store. I had a website |
| far, and this has largely been down to operating in an | | | | designed through which I sell all my lines to a global |
| area of high demand, where I am the only supplier in | | | | marketplace. Online I am competing with a lot of |
| my area. You see, there are two local ski slopes and | | | | other websites that sell similar stuff to myself, but I |
| both of them have a lot of visitors each week, so I | | | | am aiming to increase my websites position in the |
| was aware that their was a demand in my local area | | | | search engines, and by doing so I am hoping that I |
| for snow boarding equipment and skiing equipment. | | | | will be able to decrease my operating costs and |
| At first, I started off selling snow boarding equipment | | | | increase my market reach. Already I am showing up |
| but I realised that I should start selling skiing | | | | at number 14 in google for snowboarding equipment |
| equipment as well and this is a decision that I am glad | | | | and I am hoping to be on the first page for certain |
| to have made. Since I have started selling skiing | | | | terms at some point this year. The thing is that when |
| equipment my sales have increased by 60%. | | | | you have a high position in the search engines you |
| I now have four members of staff that I pay a | | | | can be sure to close a certain number of sales with |
| good wage, and that are very loyal to my company. | | | | no marketing outlay. There is also the issue that once |
| You see, the great thing is that all of them have an | | | | you close a single sale with a customer they are |
| interest in snow boarding and skiing and this really | | | | more likely to return in future when they require |
| comes through in the way they are able to help my | | | | further products that you sell within your range. I |
| customers make informed purchases. | | | | have also started to sell wholesale through a |
| I have a deal with the local ski slopes that when | | | | separate website and this has helped me in two |
| someone is a member of their slope they get a 10% | | | | ways. I am starting to increase my sales volume |
| discount on all purchases. This is something that I | | | | however at the same time I am decreasing my cost |
| considered for a number of reasons. The first thing is | | | | per unit to purchase through buying on a bigger scale. |
| that I didn't want either of them starting their own | | | | This is something that is offering my business growth |
| shop on their premise, and I felt that through | | | | potential, however my primary aim is to increase |
| offering them something free they would be less | | | | sales through my website at the moment. |