Product development, branding, shipping, trademarking… it’s enough to make your head spin!
June 16th, 2008
Everyone knows that starting a business isn’t easy, but you are never fully prepared for all of the decisions that need to be made.
My biggest challenge right now… developing a product to sell! My website is complex and taking much longer than expected. The crew at Fast Pivot, my web partner, challenged me to come up with a product to sell NOW. One weekend of constant brainstorming and finally a light bulb moment: why not sell our artwork on infant and toddler tees? I’m not talking cheap undershirts; I’m talking really nice, high quality, super soft tees that every mother will love for their child. It’s like wearing ART! Don’t get me wrong, I am still focused on selling canvas art, but why not have other options? I love the idea of packaging a Red Koala gift card and baby tee as the perfect gift for an expecting mom! After a full week of designing shirts and sourcing manufacturers we are ready to sell, and I must say they are pretty darn cute. This is why I started my own business. Making these types of decisions is so invigorating and fulfilling. However there are many more decisions to be made… like how to grow my brand.
I have worked with some of the biggest brands in the world, but I don’t have much experience with the smaller ones. There is a big difference between the two. How do I take an unheard of brand and turn it into something great? That was my question for David Vinjamuri with ThirdWay Brand Trainers. He had some good advice: tell your story as an expert. It seems so simple, but so smart. I am a mother of three with a family owned art gallery. I’ve decorated plenty of rooms and understand the frustration of looking for the right piece of art. By sharing my experiences with others, I build credibility. He suggested that I start blogging on topics related to children’s art. Not to plug my company, but to build trust. I am not a professional blogger. These Seeds for Success program blogs have been my first and only blogs so far, but my blogging career is about to take off.
I’m feeling pretty good about our shipping system. We have tested many boxes and packing methods and have chosen the best option. As far as a preferred shipping vendor, there is a balance between the cost and the simplicity of each method. After talking to several providers and considering a third party logistics provider (thanks for the official term Rosemary) we have decided to do the shipping ourselves. We chose a provider that charges slightly higher rates, but offers the best benefits including daily pickups and integration with our Yahoo! Small Business website.
Last week I spoke with Nina Kaufman (www.AskTheBusinessLawyer.com) regarding several legal issues. I’ve been struggling with LLC vs. S-Corp status for the company. Apparently there are benefits to both, and it’s not a clear cut decision on which way to go. I also need some advice on trademarking and writing a licensing agreement for our artists. In summary, I need help. Most of these things have already been started by me, but its time to bring in a professional. I think Nina quickly realized that I needed a local intellectual property lawyer to guide me through these topics. She advised me to check out the State Bar and look for a lawyer that sits on a committee. Her reasoning: anyone that takes time to work in the community is probably a trust worthy person. Seems like good advice to me. I struggle with paying people to do things for me, but I need to get over that pretty quickly. As the company grows, I won’t have time to do everything myself. So first things first, get a lawyer and a CPA.
The last couple of weeks have been very busy, but it’s fun to see the impact of all of these decisions! Please visit www.RedKoala.com this week to see the new and improved look, logo, and fabulous tees!
