Posts Tagged ‘ebay’

Small Business Interview with Sophie Kovic from FlockStocks

Tuesday, November 8th, 2011

I recently had the chance to interview Sophie Kovic from FlockStocks and here are some of the highlights of our discussion:

Tell us about your business and who you focus on serving?

We are a feather hair extension supplier that mainly sells to salons. We hit it big when we opened up FlockStocks as our store opening serendipitously coincided with the start of the Shopify Build-A-Business competition. Since then we have been focusing on improving our products and services and following trends. We are really trying to listen to what our clients want, and developing our products accordingly.

How did you get started selling online?

We started on eBay selling a range of products. I had a clothing label originally.  Selling online was inspired by Timothy Ferriss and the Four Hour Work Week. But the clothes didn’t really match his lifestyle model. FlockStocks is much more rewarding, and far less work. Tim would be proud.

What inspires you to grow your business?

Besides the obvious cash incentive and the subsequent lifestyle, I just really enjoy the work. One of the exciting things for me is meeting new like-minded people. At the moment my goal is to meet an inspiring business mentor.  I also have a new baby and want to make sure I can provide for him properly.

If you had 2 lessons learned from your business that you could pass on to others about selling online, what are those?

1) Choose something with little or no variation, such as size, color etc. With little or no variation you get less hassle, less complaints, less stock-keeping, and less returns.

2) Choose something with good Adwords potential. High clicks and low competition is everything. You must be sure you can drive customers to your site in the beginning.

Where has your business focused most of its energy this year?

We have been focusing on developing a new way of grading our products, which makes the whole process much easier for clients to select a product based on their needs and budget. That is still in the works. We have also been diversifying our products, finding better suppliers and generally growing our range. Staying current and rolling with the trends is absolutely vital to our business.

What do you see as 2 new trends in small business and in your business?

1) Sites that host timed discounts such as Groupon are great ways to get exposure.

2) Instant advertising methods have changed the way we can get potential customers to our sites. Adwords, for example can get you results in one day. Long gone are the delays of print advertising.

If your business/store could be any movie or movie character, what movie/movie character would it be and why?

Juno. That movie came out of nowhere. It didn’t appear to fit with the mainstream, but most people ended up thinking it was really cool.

If your business could have a dream spokesperson for your company who would it be and why?

Kim Kardashian would be our dream spokesperson. Besides being gorgeous and surprisingly articulate she has a very talked about hairstyle and would be the perfect fit for our premium positioning in the market.  

What is the biggest challenge that your business faces as a small business and how do you work to overcome that challenge?

A new flooding of competitors is the main challenge facing our business today. Refocusing on a different clientele (salons rather than individuals) where there is less competition has been our approach to this problem.  That also works in well with Tim Ferriss’s  80/20 principal, where 80% of profits come from 20% of customers.

Do you have any parting thoughts for our readers and the small business community?

Read The Four Hour Work Week. It changed my life. I am writing this from a villa in Thailand, where I just celebrated my 25^th birthday, with my partner, son and friends. We have just spent 3 months here, and I have not so much as looked at an order the whole time. I learnt that things can be automated. The world will not fall apart if you step away. Trust your people. They are smart. They will work it out. You will have more time to come back with better, bolder and bigger ideas.

So go. Do something. Be inspired. And have fun! 

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Posts Tagged ‘ebay’

Small Business Lessons from Tamara Gozan of Designer Purse Depot

Monday, August 29th, 2011

This week I had the pleasure of talking with Tamara Gozan, the founder of http://www.designerpursedepot.com/, an online store that sells a variety of designer handbags and apparel. However, due to customer demand, Tamara shared that she will be expanding her business and focusing more on designer clothing, shoes, and accessories. We had a great conversation during our interview, touching on topics such as small business, social media outlets, and The Devil Wears Prada (of course!).

Tell us a little about Designer Purse Depot and who you focus on serving?

Designer Purse Depot services a lot of people who like designer items, mostly handbags and clothing but also including shoes and other accessories. Because my customers love designer goods and they are really expensive, I spend a lot of time trying to find companies where I can find these items on sale or at a discounted price. I then resell them to my customers, who often use these items themselves or turnaround and sell them on eBay.

How did you get your started selling online?

I started over a decade ago when I had an eBay account and sold a few things online there. Then recently, I saw the success of many people that were making their money online and heard a lot of people who considered themselves experts, explain the importance of having an online store. I started looking around to find a format or platform where I could open an online store and found Shopster. I decided to open a free account using their free trial offered at the time and put some items on the account, just to see what they would look like on the website, and within 8 days I had my first sale. After recognizing the potential, I decided to get more serious and built a complete website. In my first month on Shopster, I had 20 sales!

Where has Designer Purse Depot focused most of its energy on in the past year?

My main focus has been on designer handbags, though I’m planning to focus more on designer clothing, shoes, and accessories in this upcoming year. I have received many requests from my frequent customers that are asking for those items, so I plan to focus on expanding my collection.

If you had 2 lessons learned from your business that you could pass on to others about selling online, what are those?

For one, having detailed photos of the items that you are selling is essential because people can’t touch or feel the product like they normally could. Instead, they would like to get a really good look at the items. Also important is having an accurate and detailed description of the items. Both of these are extremely valuable factors to focus on, and the third item is the pricing of your products. You have to know what is currently going on in the market because if you price an item too high, you won’t get enough customers, and if you price an item too low, the customers won’t recognize the value.

What do you see as 2 new trends in your industry this year?

Surprisingly, some of the most expensive handbags are the hottest items right now. Although everyone is talking about how bad the economy is, some of the most expensive handbags are selling very well. Another trend is the emerging popularity of fashion forward attire. Lots of women are looking for really nice office wear and bright colors.

From your experience, what are the best ways to advertise yourself?  Do you make use of tools like social media?

Yes, I definitely think that you should be on Facebook and Twitter, as well as have an eBay outlet and possibly an Amazon account also. You can introduce new items there and send customers back to your store. I really think you should have a strong presence in the market and definitely a blog.

If your business/store could be any movie or movie character, what movie/movie character would it be and why?

It would probably be the intern from The Devil Wears Prada, played by Anne Hathaway. I don’t necessarily wear a lot of high fashion items and I’m more of an admirer, so I’ve had to really become acclimated with women who wear these high value, designer products. Similarly, the intern went into an industry that she wasn’t familiar with and had to adapt to the environment and learn the market.

Do you have any parting thoughts for our readers and the small business community?

I just read an article about the woman who wrote the novel, The Help, and learned that she was rejected 60 different times by 60 different literary agents and the 61^st agent was the first to give her a chance. Now, her novel has become a major motion picture. You may not get it right the first time, or even the second or third times, but if you are passionate about what you want to do and keep trying to tweak it and make it right, you will find success. Even though it started out almost effortless with Shopster, having an online store isn’t always easy; it has been challenging to grow and I’m still seeking to go to the next level. I have to keep myself focused and motivated every day, though that’s how you will eventually find success.

We at KikScore would like to thank Tamara for giving the community his thoughts on the small business experience.  If you have questions for Tamara, please leave them in the comments below.

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Posts Tagged ‘ebay’

Twitter-bay-zon…Twitter, eBay and Amazon Combined into One App!

Wednesday, July 28th, 2010

I was reading this TechCrunch article today about how Amazon just incorporated a Facebook tab/section into their website so that customers can supply their Facebook account information and then automatically see what their friends’ wish lists are or what CD their friends just purchased so they can buy it too.  I thought that this development was interesting because it is basically the largest eCommerce company integrating with the largest Social Networking company in this way and it could mark the beginning of a new trend.

What would be some more interesting eCommerce/Social Networking “mash-ups” that we could dream up here?  Another interesting match-up that I thought of in this area was the combination of Twitter and eBay.  I think that it would be very useful for people that are trying to sell a product in an auction on eBay to be able to automatically broadcast this auction over Twitter real-time as bids are being made.  To get a little crazier here we could even add an Amazon integration into the mix where users could see live streaming tweets on an Amazon product page of the same item being sold on eBay!  Let’s call it “Twitter-Bay-Zon”!

On second thought, I am guessing that Amazon wouldn’t be too happy about this partnership I just proposed here as it would directly interfere with the current used-item marketplace that they already have, but I think you are catching my drift here.  Are we about to see a major melding of the eCommerce and Social Networking companies online?  I think that it only makes sense and would lead to increased sales, advertising, and users for everyone involved…so why not?

Here are a couple more eCommerce/Social Networking mash-ups that I just thought of that would be interesting: MySpace & Amazon and YouTube & NetFlix. What are some other partnerships like this that you see forming in the next 5 years?  What company could you see your business partnering with to get an advantage over your competition in the same way?

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