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Ever heard the story about the start-up company that began in someone’s house and grew into a multinational in just a couple of years? Some people think Microsoft was one such company - but that’s not exactly right, as Bill Gates and Paul Allen were working away in their bedrooms long before Microsoft came into existence. But like all good stories, the good old “bedroom to boardroom” start-up story is usually based on a few real examples and does possess some truth. In the USA, there are many such examples and one is Quidsi, an online retailer who run a surprisingly named website called diapers.com. You got it right - Quidsi started life as an on-line nappy seller, though now they stock thousands other lines too. Setting up in a Long Island home garage just outside New York City, Qidsi was first founded by friends Marc Lore, Vinit Bharara and Gina DePaola. From its lowly beginnings as a site named 1800diapers.com, the business has progressed to being a real American success story and is now a majorly successful online retailer. So successful in fact, that last year Amazon bought the entire company for $540m (332m). So how did Quidsi do it? Firstly, Marc and Vinit spent two years prior to going live building up a super sophisticated website and business model. Their trick was to have an online presence that made the company seem far bigger than it really was - an online ruse that any savvy entrepreneur with a good idea can pull off across the web. Actually, back in 2005 Quidsi’s only full time employee was Gina DePaola and the “shipping facility” was nothing more than Gina’s home garage. The business plan was based on the fact that hard working parents with little spare time would be more than happy to purchase essential but basic goods, such as nappies online - and get them shipped straight to their home. Nappies and other such items were seen as a loss leader, but Marc and Vinit believed that as soon as the business was building online buyers, they would make additional sales and substantial profits from “impulse” sales of more valuable goods. Quidsi has subsequently grown its stock lines to 50,000+; maintains a 1.25 million square foot shipping facility and now operates two additional websites - soap.com and beautybar.com, altogether gaining $300m in sales incomes for 2010. Quidsi didn’t always have things so easy though - at first launch in 2005, nappy manufacturer Proctor & Gamble refused to deliver to Quidsi, simply because their business was under two years old. With all their development work potentially going to waste, the intrepid founders launched into a backup plan. As the orders flooded in, Gina had to drive around her local stores to grab as many nappies as she could find, which she would then take home and ship out just as rapidly as she could manage. After just one week’s trading, an average of thirty nappy orders were being sent out every single day. After six weeks and following a short plug in a mother and baby magazine, Quidsi was booming - Gina was shipping out an incredible 180 parcels each day! Gina was met by a few challenges having to fulfil orders in this way. Her nappy shops were becoming so bulky her Father had to help with trips to the store, as her small van just wasn’t big enough. The local cash and carry stores were being stripped of their entire nappy supplies, as Gina bought every single one she could find. To feed this ever-growing monster with nappies, Gina and her Father found themselves travelling further and further each day. Eventually, she happened on a CostCo branch that seemed to offer a more robust supply. But even after that discovery, Gina and her Father soon found they had to travel the length and breadth of a hundred mile circle to buy every other pack of nappies they could find. When month five arrived (and after many shortages and the resulting complaints about the localised shortage of nappies) Proctor & Gamble spotted the issue and a credit account was finally approved. After five months (and countless store complaints by Long Island mums and dads concerning the growing shortage of nappies) Proctor & Gamble eventually came good and opened a wholesale account for Quidsi. After year one, the Quidsi business had made $2m in sales, completely proving their business idea. But profit margins were just a paltry 4 percent - indicating that nappy sales alone would never make a profitable business. To get the business off the ground, the founders had invested a couple of hundred thousand dollars - and now they had lost the lot. Fortunately for them, a white knight arrived in the form of a $4m venture capital financing in 2006 - a form of finance that by the point of the Amazon takeover, had reached $54m. And there our Quidsi story ends … Can we learn anything from the quidsi.com story? Yes, of course! A retail operation can present itself as a much bigger business than it really is, if it goes online with a superbly professional website, a highly relevant domain name and provides A+ customer service from the start. But it’s still going to take a lot of funding - full service websites take an awful lot of development effort and therefore money and if you are lucky enough to possess the necessary skills to develop one yourself, you still need to take account of the time and effective cost. A top domain name that is relevant to your business is nowadays very hard to find and acquire and is going to be expensive, unless you get extra lucky. Maintaining customer service will also involve long hours of dedicated work as the number of orders really starts to grow. Whilst you can in practice start an online business with a bedroom for an office and the garage as your shipping facility - when customers start buying in droves and if you are selling physical items, costs will rise faster than income as you make the necessary changes to keep up with demand. Most tellingly, the founders of quidsi seeded their business with a six figure sum out of their savings - and that was all consumed as the business took on costs faster than it made money, in order to sustain its rapid rate of growth. If you do not have the necessary spare money to invest (or loose as the case may be), it is vital that any growing business achieves a decent profit out of every sale, starting at day one. To make a success on the business lines of Quidsi, aim to generate a healthy profit on every sale and lock every penny of those profits in, in anticipation of that rapid growth period. If you have a great plan for a company. 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Posts Tagged ‘profit’
Quidsi - The start up that did it!
Wednesday, August 10th, 2011The Playstation 3 Move Free For Christmas
Tuesday, November 16th, 2010|
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Sony has just released the PS3 Move, this is a hand controller which follows your movements on screen just like the Nintendo Wii. Using the Eye toy camera all your actions are made on screen with much more accuracy then any other controller to date. So with Christmas only weeks away children around the world will be adding this new gadget to their wish list. The controller will cost approx fifty pounds which is a lot for a controller. Are you aware that you can get the Playstation Move free? And not just the Playstation Move but also a PS3 console or just about any gadget you can think off all for free. The websites who offer the free gadgets all have one thing in common, they are using incentive advertising. This means they advertise great offers from some major brand names such as Santander Coral and LOVEFiLM. The concept of these websites is nothing new and most have been around since 2005 offering consumers free gifts such as the iphone and most games consoles. To get the ball rolling you will need to find a website which offers a free PS3 Move, once there you will see that you are required to give them some details such as name email and delivery address. It is very important you fill out this form carefully as mistakes may delay your free gift being sent out. Once signed up you are required to view the offers available and choose just one which needs to be completed, there are dozens of offers ranging from free trails through to offers which require you to credit and spend money on bingo or casinos. The best way to save with these sites is to select one of the free trials, this means you are able to try the service without worry about any payments, but still qualifying for your free gift. Having completed all the requirements your account will be checked for fraud or breaking the terms of the offer. Once you pass this stage your free gift will be sent out and even this is free, so you will not be expected to pay for delivery costs. Save money this Christmas claim your Free Playstation Move. Using the free information we provide you can see how easy it is claiming your free playstation move really is. |
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What You Need To Know BEFORE You Get Started On EBay.
Tuesday, August 31st, 2010|
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So you’ve decided that you want to get started as a seller on eBay. There are a few things that you really need to know before you go and throw yourself in at the deep end. What to Sell. First off, you need to know what it is you’re going to sell: what’s your speciality? You’ll do far better on eBay if you become a great source for certain kind of products, as people who are interested in those products will come back to you again and again. You won’t get any loyalty or real reputation if you just sell rubbish at random. When you think about what to sell, there are a few things to consider. The most important of these is to always sell what you know. If you try to sell something that you just don’t know anything about then you’ll never write a good description and sell it for a good price. You might think you’re not especially interested in anything, but if you think about what kind of things you usually buy and which websites you go to most often, I’m sure you’ll discover some kind of interest. If all else fails mention it to your friends and family: they’ll almost certainly say “Oh, well why don’t you sell…”, and you’ll slap your forehead. Out of the things you know enough about, you should then consider which things you could actually get for a good enough price to resell, and how suitable they would be for posting. If you can think of something of that you’re knowledgeable about and it’s small and light enough for postage to be relatively cheap, then that’s great! Don’t worry if you think the thing you’re selling is too obscure - it isn’t. There’s a market for almost everything on eBay, even things that wouldn’t sell once in a year if you stocked them in a shop. You’ll probably do even better if you fill a niche than if you sell something common. Tax and Legal Matters. If you earn enough money, you should be aware that you’re going to have to start paying tax - this won’t be done for you. If you decide to sell on eBay on a full-time basis, you should probably register as a business. Prepare Yourself. There are going to be ups and downs when you sell on eBay. Don’t pack it in if something goes a little wrong in your first few sales: the sellers who are successful on eBay are the ones who enjoy it, and stick at it whatever happens. Anyone can sell on eBay, if they believe in themselves - and if you do decide it’s not for you, then the start-up costs are so low that you won’t really have lost anything. If you’re ready to start selling, then the next thing you need to know is the different auction types, so you can decide which ones you will use to sell your items. Our next email will give you a guide. You can find more Business Articles at Find Articles |
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Set Your FQL Factor For 2010
Monday, May 3rd, 2010|
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Have you ever heard of the FQL Factor? Well first, allow me to explain that that the FQL Factor is a success criteria called Financial Quantum Leap Factor. So let me restate the question. What is YOUR Financial Quantum Leap Factor for the coming year? As you know, we are all worried about the state of the global economy. Multinational conglomerates and powerful US financial institutions are failing . The US economy is totally destabilized. We are witnessing catastrophic economic collapse in proportions not known since the last century. The world is aware of the current economic crisis, and millions of people are waiting for the next news story regarding the unfurling financial disasters that may impact them - and possibly wipe out their life savings. How does that matter? What is this business about the FQL factor? Honestly, there is a bottom line here. You can either be a highly proactive and well intentioned financial achiever who plans out their explosive success rate, or you can be one of the billions of people who procrastinate and wait for the next onslaught of negative economic news. While the nations of the world are concerned about the doom and gloom of the worsening financial crisis, and social charity takes a back seat to self perpetuating worries, there is a better way to approach the coming year! First off, note that the political change in America is a prime opportunity for the US to get it right. President Obama has a plan to reverse the seemingly immeasurable damage George W had afflicted on the US and the world through his tenure. It is going to take Obama his full two terms in office (yes I predict Obama will be in office for us for two terms) to correct the economic state, but he can and will do it. Barack can only do so much at once but he can and will steer the country until crisis is over and wealth and abundance is upon his country once again. This is a time for you to look at this opportunity as a chance for you to make measurable changes in your life and in your attitude towards your financial abundance. This article regarding your FQL Factor for 2009 is not a call to make a New Years resolution, but rather it is a call to action to commit yourself - like I am committing myself - to explosive - yes - exponential financial growth in 2009 and in years to come. You see, even in the worst economies, there are those who rise above the crises, and commit themselves to their absolute success. Your FQL Factor for 2009 may be to take yourself from 0 to $10,000 in sales this year. It may be to take yourself from $10,000 a month to $100,000 a month in online sales. I am recommending that people ” entrepreneurs like you - look to not only double or triple their sales but to plan for and to commit to an Order of Magnitude Increase in their wealth in the coming year. That is right. Wherever you are at, look to making 2009 the year when you earn AT LEAST 10 TIMES more wealth than you had in the past year. Dominic D. Johnstone is an expert in online marketing and wealth building formulas. His repeatable formula for earning unbelievable wealth is available on his e-commerce site, RepeatUntilWealthy.com. Dominic D. Johnstone is renowned for developing formulas of wealth generation that are repeatable and manageable for every entrepreneur. |
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Use Trust and Customer Loyalty to make more money
Friday, September 11th, 2009|
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Ensuring customer loyalty ensures more money for any successful business, because without it, the business is doomed for failure. The very reasons that you started a business in the first place, are the reason it will fail if it is not taking care of. No funny business, they are watching your every move. Yet, there are a few tricks of the business trade that will help the independent business person in the long run. By utilizing some of the basics of respect and by treating people the way that youd want to be treated, you will find that this is something that will make your business soar to heights that youd never imagine. For the upstart business, this is something that should come rather naturally, as youre just happy to have any customers at all. Be careful about how you treat everyone, treat them great and you will receive that in what you desire, money. Money and the theory of trust, is so imperative to any real good business. The theory that all the trust that you can offer to a customer will be returned 10 fold. People are naturally very protective of the things that they own, including money. With this said it is only quite natural to want to appreciate the business relationship to the ninth degree. The trust that you can put into business dealing, and then the return on that investment of trust, spells money. No other way about it, the customer must have it for you and you for them. It is just this simple, if the bloody business cannot trust the products or worse the service that you give, its not a pretty relationship. it will be a disastrous entity. If the customer cannot trust the business with providing solutions that are effective, they will simply take their business elsewhere. Adela writes about many topics related to businesses and financing. He teaches about various things including business, finance, and money market accounts.. You can also learn more from him about how to make money online |
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How much Profit can you Earn with your own Cleaning Business?
Thursday, August 6th, 2009|
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The cleaning business offers numerous opportunities for entrepreneurs to get started with their own profitable small business. But while some business owners can quickly scale up to a decent income from their business, others have difficulties getting their businesses off the ground and barely make enough to get by. Clearly there are factors that separate the successful business owners from the rest. In this article we look at the earnings potential in the cleaning business and examine some of these success factors. Small cleaning business owners working full-time as sole operators in their first year are able to earn between $15,000 and $35,000. Once they are able to take on staff, build up some local reputation and put good systems in place then an annual income of over ’six figures’ is realistic and much more is possible for those who put in the effort. What are the factors that set the six figure cleaning business operators apart from the rest? 1) Choose a profitable market sector to target. Try to find a combination of considerable local demand and a lack of companies catering to that demand. When choosing a niche you should also consider the competitive advantages that you may have through your work experience or through your friends and associates. 2) Put some of your time into building a reputable brand so that one day you will be able to win customers more easily and possibly allow your business to charge premium prices. 3) Develop systems that ensure that that the day to day operations of your business run smoothly and effortlessly. Always be on the look out for ways of improving the productivity of your crews. 4) Develop a sales system that gets results. Focus on converting an increasing number of leads into new customers. 5) If you have a customer on a basic cleaning package and it is going well, try to up sell them on other cleaning related services. 6) Successful entrepreneurs are usually good at leading a team of people. Set out a process for hiring and training staff and learn how to manage them in a way that gives you time to focus on management and business development. 7) Marketing is a major contributor to ensuring your success. Watch what other companies are doing and learn from them while still remaining as original as possible. Try out a variety of promotional methods and track results to find out the most cost effective methods. 9) Have the right attitude. People sometimes look down on cleaning as a profession. There is absolutely nothing wrong with cleaning houses and offices for a living but remember that you are a businessman or woman first and foremost . 10) Research and learn continuously. Educating yourself about the cleaning business and business management in general doesn’t stop once you set up your company. Get your cleaning business started off the right way by first understanding what it takes to be successful and then putting together a plan to get yourself there. About the Author:
For our next article on Startup Costs for a Cleaning Business visit - Cleaning for Profit
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Positive word of mouth marketing can bring new customers to you if you provide a high standard of service to your clients and give them positive reasons to talk about you to their friends.Join The Band Wagon Of of The Growing Global Distributorships.
Wednesday, July 8th, 2009|
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Energy saving and environmental aspects are playing an even bigger role in the nowadays more competitive markets. With the financial crises on the peak and investors more sensitive in spending money, China made products are gaining more ground in the traditionally more conservative buying countries. Ningbo, Xinda, Screw Air Compressor, VSD There are clear winners in this fight for market shares and AUGUST Screw Air Compressor is one of them. Over the last few month it has established new dealerships in Spain, Malaysia, Israel, Middle East and is strongly developing in Latin America and Russia.The company’s products are CE and ASME certified to meet the requirements of such markets. High tech imported technology equipment from Germany and Japan and the sense for doing the right thing at the right time have put the AUGUST brand into a strong position. They can build on 36 years of production experience and own Research and Development. The 2 main benefits of the AUGUST VSD e-saver compressors are the highly competitive price compared to other brands. Many dealers are able to offer the Variable Speed Drive compressor at the same price as other brands can only offer the “regular” type compressor.Aware of the high quality of the AUGUST own product development, all machines are coming with a 5 year warranty on the compressor screw. If you need to save up to 33% of your electricity bill, then the AUGUST VSD e-saver is the perfect solution for your need. Also the technology is improving the lifetime of your compressor by about 20%. Thus in consideration of your energy prices per Kw, the payback period for a VSD compressor is between 1 to 3 years. This is the best way to get your investment back in plain cash.  VSD compressor technology has also the advantage that the compressor can be used for 50Hz and 60 Hz frequency. Thus again opening new markets and opportunities for the distributorship. As a special promotion, AUGUST is currently scanning the field for potentional sole agents and distributors for regions that are not yet covered. If you have a strong sales force and the possibility to provide a professional after-sales service you can apply. No additional franchising or other investment is required. Interested companies should get in touch with the German Marketing manager at fax 86-574-88336161 phone 86-574-88336868 or at - export@xindaworld.com - for more information about the company and the benefits of VSD. http://xinda-lg.en.made-in-china.com About the Author:
To view more details and certificates about August brand and get more technical details please see the website or contact the marketing department directly by phone 86-574-88336868 or fax 86-574-88336161. Tehy speak German and English making it more convenient for you.
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3 Golden Keys to Writing for the Internet
Wednesday, July 1st, 2009|
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I often see new copywriters, when they complete their training, begin by writing for the Internet. A mistake I see, however, is they fail to keep in mind the key differences between writing for the Internet and writing for print. We will cover some of these differences here, and I promise if you keep these “golden rules” in mind as you write for the Internet, you will achieve much success. Traditional publishing and writing for the Internet differ in three crucial ways: Audience Format Lifespan It is important to consider each key difference while writing for the internet. Audience While audience is always a key consideration for any writer, audience consideration is a primary factor when writing for the Internet. While the basic considerations of audience (who do you expect to be your primary reading audience?) remain the same there are some important differences. The first consideration is that in an offline publication, such as a newspaper or magazine, it is almost a given that you have a captive audience. Once a person has spent the money, they are most likely at least going to give the entire publication a quick once-over before tossing it aside. You have no such luxury on the Internet. The only thing keeping your reader from moving on is one click of the mouse. You must not waste time. Stay focused and stay on target. This does not mean, however, that as a writer you must go after the ‘lowest common denominator’. Please do not consider your audience stupid. What it does mean is you need to know your audience inside out and know exactly how to deliver what they want and need. Format Something else to think about when writing on the Internet is to consider the “skimmers”; readers who breeze through your copy without reading the whole thing. So what you have to do is be very clear in your writing. For example, headlines that pack a punch, carefully worded subheadings, and introductions and conclusions that are solid and full of good content. An error that new writers might make, is trying to make their articles look like text in a magazine article or a book. However, writing on the Internet has big differences. A reader will actually read the Internet differently from ‘physical pages’, so different techniques are needed. ‘Point of entry’ is one of the most important. A search engine can send a reader to the middle or even the end of your document. If you have written accurate and concise content however, a reader and yes, even the ’skimmers’ could likely go back to the beginning of your article to read it entirely. There is a way to skip this step though, and that is by splitting up your text into several stand-alone pieces that will fit together as a complete article, or separate documents if looked at the same way. (A good example of this? Did you see how I broke this article into individual stand-alone segments?) Lifespan Last, but certainly not least, an important difference you must consider when writing for the Internet is what is called “lifespan”. On the surface, due to the rapid nature of the Internet, it appears that electronic documents have a limited lifespan. But actually the opposite it true. Whereas a printed publication may only have a lifespan of a week, a month, or worse yet, a day, one thing most publications are doing now is archiving online. The beauty of the Internet is that archives may last for years, if not indefinitely. So as a writer you want to write fresh and current content, try to resist being too topical or you may date your material. Remember, potentially your readers may be accessing your words well into the future. By keeping these three “golden keys” in mind when writing for the Internet — audience, format, and lifespan — you will find success. About the Author:
Anthony James Goolsby (Jim) is a freelance copywriter/consultant and creator of the Ultimate Web Copy Academy. To learn how you can write successful copy that sells, go to his site and get your free e-book, “Is Sales Copy Dead? Internet Copywriting Basics.”
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