Category Archives: Business ideas

How to start a wholesale fashion company

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I recently interviewed Andrew Ok from Tutu Fashion which is a company that specializes in women’s wholesale clothing. I asked Andrew about the challenges of his wholesale fashion business, and what is most exciting about it. Enjoy the interview.

1. Tell me about your business?

We are a Los Angles based wholesale manufacturer, focused on women’s fashions.  We have 20 years experience in designing and manufacturing high-quality fashion clothing.  We identify trends in global markets and produce tops, skirts, dresses and pants to bring low cost “high fashion” to our customers in response to the consumer’s demands.

The majority of our products are made in the USA. We pride ourselves on sourcing our own fabrics, trim, accessories, and other details to ensure the highest quality products. We strive for our products to be dependable for the end consumer to help drive repeat business for you, our retailer.  We are continuously bringing new fabrics and new designs to keep what you offer the consumer fresh and relevant.

2. How did you get started?

We use to own a couple of retail stores before we started an actual wholesale store.  We wanted items that were made in the US instead of being exported and items that had fine quality with great detail. We wanted to control our own inventory for our own store then decided to make the items ourselves from the fabric to sewing, we wanted to do it all. Then we branched into the wholesale side.

3. What is the most exciting part about your business?

The most exciting part is the process is deciding what product to make. We can decide from a simple top, dress, skirt, a plus size shirt, and plus size dress. After choosing a type, we choose a design with our designer. After a type and design, we then get to choose the fabric. After the fabric, we decide on a quantity and make the item from scratch.  A fun process from the beginning.

4. What is the most challenging part of your business?

The most challenging part of the business is competing with other vendors. With so much competition and price wars, we do the best we can in price but can’t compete with imported items from china or Mexico. We do our best to make the price as fair as possible but still have to make a profit. We stride and pride in our quality of the items and believe you get what you pay for.

5. What’s your long-term vision and goal?

Our long-term goal is to get every household at least one item from our store.  From wholesale and slowly expanding to retail, we want this to be a household brand. 

Sounds crazy but we believe with our products and customer service, we will achieve this. 

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Interview of Colin Nabity, founder of LeverageRX

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I recently interviewed Colin Nabity about his disability insurance for physicians and physician loans business, and I think you will find his insights about this business interesting. What I like about his business is that it isn’t the next social media trend. It is something that people and other businesses need, which give his business proper fundamentals and a good foundation.

1) Tell me about your business?

LeverageRx is an online lending and insurance marketplace exclusively for physicians, dentists and other medical professionals. We cater to the unique financial needs and challenges of doctors starting practice and make it incredibly simple to compare rates and pricing for disability insurance for physicians, life insurance, physician loans and student loan refinancing.

2) How did you start your business? What inspired you?

My background is all finance, specifically wealth management and insurance for doctors, but in a traditional brick and mortar model. We wanted to leverage technology solutions to the doctor space to make it easier to get rates and information without being forced to use an insurance agent or advisor. The technology doesn’t exist for many of the products and services we play in so we’ve had to build a lot of it ourselves.

3) What is the toughest part of starting this business?

Balancing marketing and development. We always try to get new products or features out early even if it’s not perfect to get as much feedback as we can.

4) Who are your ideal clients?

We focus mainly on physicians and dentists that are finishing training and starting practice.

5) Do you recommend this business for other entrepreneurs?

Doctors are a hard market. They are very protective and skeptical of other professionals outside medicine and rightfully so – many people want to take advantage of their earning potential and recommend products or services that aren’t in their best interest. This is why we’ve pushed to make financial services in this space extremely transparent.

6) What excites you about this business the most?

Doing and building something that hasn’t been done before that is truly providing value to our customers and making their lives easier.

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Interview with Jeff White, the Bob Villa and overall guru of Grout

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I recently interviewed Jeff White, creator of the GROUT-EEZ grout cleaning product about his unique product and business. Here is a link to check out Jeff’s incredible grout cleaner, and here is Jeff’s website that is the one stop shop for all things grout. Before you read the interview, here is a video to help you get a sense of what Jeff’s product can do:

1) How did you get started in the grout business?

I started in the tile and grout cleaning business back in 1997 after I met someone at a business expo who was in the business in San Diego. He told me about the need for tile and grout cleaning in both residential home and commercial buildings. It didn’t take me long to decide to learn from him the proper technique’s, equipment and chemicals it took to get the job done the right way. Since then I have also learned how to refinish natural stone like marble, granite, travertine  and slate floors and counter tops.

2) What made you come up with GROUT-EEZ?

I came up with GROUT-EEZ about 10 years ago when the grout cleaner I had been using for years had to change its formulation, because it was made in California and their EPA laws were getting more and more strict and the cleaner just wasn’t working anymore. I then tried every grout cleaner I could get my hands on and nothing was working. It was about this time that I met up with a chemist friend of mine and told him what I was going through. I needed something that would work the way my old cleaner worked, but I also wanted it to be safer to use.

3) What was the process of creating GROUT-EEZ?

We put our heads together and since I was in the business I knew what a good tile and grout cleaner should do and how fast it should do it and he knew the chemical business.  We played around with different formulations and tested and tested and tested for about 2 years and probably 20 different formulations,  It was around 2007 that GROUT-EEZ was born.

4) What are the results of GROUT-EEZ when comparing with other solutions?

When you compare GROUT-EEZ to any other grout cleaner the results are clear. Most grout cleaners are acid based. Acid has a place in grout cleaning, but acid alone won’t cut through grease that’s likely in the kitchen and acid won’t cut through make-up and hair spray that is very likely in most bathrooms. GROUT-EEZ is a 2 in 1 cleaner that is acid based but it also has a great grease, make-up and hair spray cleaner built in. GROUT-EEZ flat out works better than any other cleaner I have ever used. It has been used in our service business for over 10 years now.

5) Why are you offering GROUT-EEZ to the public now?

Back in 2007 when GROUT-EEZ came to life I never expected to do anything with it other than use it in my service business. Over time I came to realize that most of my clients would hire me to clean their grout only after trying every grout cleaning product they could find themselves. They would make the homemade cleaners they heard about on youtube or Pinterest. They would go to the flooring or hardware store pick up 4 or 5 different bottles get home get on their hands and knees and start scrubbing. If anything ever worked for them, even a little bit they would do about a 6 to 10 sq. ft. area and call it quits. (How can you blame them).
My clients would always ask me why my cleaner worked so well and the crap they bought never did anything. That’s when the light bulb went off and I decided to sell to the public.

6) What makes GROUT-EEZ easier than other products?

There really isn’t any scrubbing necessary when it comes to GROUT-EEZ. You just apply it directly to the grout lines, let it dwell for 5 to 10 minutes, depending on how dirty the grout is. Then lightly agitating the cleaner into the grout lines to loosen the dirt and grime. The last step is to mop away the dirt and cleaner with any type of mop.

7) What are your long-term goals for the business?

I would like to find a way to get GROUT-EEZ into the hands of anyone who has struggled with getting on their hands and knees to clean their grout. I’m making it my mission to show homeowners the easy and proper way to clean their floors without getting on their hands and knees. In the near future I want to get GROUT-EEZ on the store shelves of flooring stores and hardware stores, so folks who don’t shop online also have the opportunity to use the finest grout cleaner on the market.
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50 business ideas and websites to make money online: How to make money online

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In this video tutorial I explain how to make money online. But I don’t just explain it like everyone else does, I present 50 effective business ideas and websites, and explain some of the pros and cons of each of the strategies.

The first strategy is to start writing. Writing a blog is the simplest way to make money online and it doesn’t take too much skill. You can simply put up a WordPress website, and start writing blog posts. You can make money from those blog posts by publishing ads on them, selling affiliate products from the blog posts, or selling digital or physical products that you create.

The great thing about making money from a blog is that it allows you to package that information, and put it together into a Kindle book or a paperback book. Now you can make money online by selling books that you put together out of your blog posts. Isn’t that a great way to make your work go twice as far?

Another way to make money online is to sell services as a freelancer. You can post your services on sites like Fiverr, Odesk or Elance. The kinds of services you can sell are video creation and editing services, coaching, voice overs, promotion of others, and much more. Personally, I make money on freelance websites by selling digital products as well as my business coaching.

Another way to make money online is to focus on growing your email list. Once you have someone’s email address, you can send them promotional messages about anything else you will be selling in the future.

If you are able to create videos, I explain how to make money online with video in 4 ways. The first technique is through YouTube, and the other strategies have to do with creating online courses and informational products on sites like Udemy, Skillfeed and EduPow. You can also create your own membership site and sell your course through that.

Additionally, there is a great way to make money online, and that is with niche authority websites. Those are websites that focus on a small niche that they can dominate, and then sell products.

Few specific tutorials for making money online

Here is a tutorial with 25 strategies for how to make money on Udemy.

Here is a tutorial with 10 strategies for how to make money on Fiverr.

How to make money on Etsy:

25 affiliate marketing tips:

Business And Entrepreneurship Psychology

To start and successfully run a business, you must have a strong mindset, be determined to succeed, and never give up. There will be many challenges along the way, and some of those challenges will be psychological. You will have to deal with issues like anxiety, fear, trust and mistrust, learning to let go of things like your ego, and learning to be humble. To prepare you for that experience, here is an article on business psychology.

And here is a tutorial on how to become a good and successful entrepreneur.

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100 business ideas: discussion of 90 business ideas & 10 business idea theories

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Here is my book on how to go from business ideas to a successful business.

Here is my Udemy course on how to go from business ideas to a successful business. The course is video based and has over 5 hours of content spanning over 60 lectures.

In this video tutorial I talk about business ideas. I give 90 unique ones, and 10 business idea fundamental theories. My hope in creating this video was to make the most comprehensive video tutorial on business ideas that currently exists.

There are many top-100 lists that simply give random ideas. And then there are theories that people post on how to get feedback on your business ideas, how to know whether they are good, how to choose one idea over others if you have more than one, and much more.

But in this video what I tried to do was to give a holistic view of many different kinds of companies a person can start. This can range from a restaurant to a coffee shop to a service business to a website or an ecommerce store. In addition to simply listing the different ideas, I give a brief mini tutorial on each of the 90 business ideas I present in the video, explaining what the pitfalls and challenges of that business might be, and also how to win in each of the businesses I mention. I outline a successful strategy for just about all the different kind of companies you can start.

Some of the kinds of business ideas I mention in this videos have to also do with local service businesses like roofing, flooring, dentists, doctors, therapists, carpenters, handyman services, car detailing, mechanic shops, car dealerships, cleaners, tutors (I explain how you can do tutoring online and as a local service).

I also discuss business ideas like starting different agencies like website making agency, design agency, marketing agency, copywriting agency, and similar services.

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3 Types Of Business Risk: Financial Risk, Market Risk, And Product Risk

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There are three types of risk you should think about when evaluating a business idea. The first type of risk is obvious. It is simply financial risk that you are willing to take on. The other two types of risk have more to do with actually building and growing the business. They are the product risk and the market risk. Let’s take a closer look at all three.

Read More…

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Bad Business Ideas & Business Idea Mistakes

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If you think about it, some very unusual business ideas have worked in the past. Conversely, it often happens that very common business ideas actually do not work. There are a few key reasons like overall strategy, positioning, marketing, degree of hard work, perseverance, availability of resources, timing, product quality, market and economic conditions, and much more.

As an example, consider a very common type of business: a restaurant. Many restaurants have been successful in the past while many have also failed. There are many things that have to go right starting from the planning stage. For example, if the restaurant is in an area where there are not many people passing by, it will be difficult and costly to acquire new customers. If the food is not great or too expensive for its quality, the restaurant will not have repeat customers and get bad online reviews which will work to turn new perspective patrons off. There are many things that can go wrong. The staff may be unfriendly. The economy might be weak. A better restaurant can open up next door. The business can run out of money before it breaks even. Or the founder just did not have enough knowledge or experience in the industry which caused too many mistakes to be made along the way.

So to make this kind of business successful, the founder has to make sure that as many of these issues can play in their favor than hurt them.

Mismatch of Business to Founding Team

Different people have different strengths. The founder does not have to possess all the core skills that the business requires. But together the nucleus of the founding team does have to possess the core skills required by a business.

For example, Internet/tech businesses typically require the founding teams to have a tech background. Food-related businesses require culinary or hospitality industry background. Product-centric companies require ability to make great products and sell them. Some businesses need to raise a lot of money while others need to get a lot of publicity. The founding team must have the skills for whatever the business will require.

If that is not the case, that will make the business more of an uphill battle.

Lack of Experience In a Field Requires Approximately 6-12 Months of Learning the Industry

If the founding team does not have strong experience in the industry in which the business idea is in, that will necessitate a lot of learning on the job, which will in turn cause many errors and steps in unsure directions. Small errors are not difficult to recover from, but gross mistakes can be very costly in terms of time and money. Before having to pay for these mistakes out of the bank account of your own business, it may be better to do some work in this area as an employee, or maybe start with a smaller project just to learn the ropes cheaply.

A common mistake is that people try to quickly go big in a business area where they do not have enough experience, which can be very damaging to the business. The bigger you try to go, the bigger and more costly the mistakes will be as well.

Lack of Circumstance-Idea Match

Sometimes the business idea is just too dependent on market and other outside conditions. If those conditions are not favorable to the business, it can be time to reconsider the business. Of course, conversely, most business types are cyclical (that means their success correlates with timing of the overall economy which tends to go through good and bad multi-year cycles).

So think about how the global and local economies will affect your business. Not taking that into consideration can leave you with significant risk.

Should You Protect Your Ideas

Our YouTube channel has many videos on topics like raising money, growing your business, insider marketing tips, business ideas, and much more. Please subscribe to our channel to get alerts when new videos are posted so that you don’t miss any helpful tutorials and tips.
There is always quite a bit of discussion and debate over the topic of protecting business ideas. Some people argue that you should keep it a secret while others insist that you should be free and open about it. The correct approach is likely somewhere in between the two extremes. If you are curious about this topic, take a look at our article about protecting business ideas.

Another option business owners have to protect their businesses is something called the non compete agreement which prevents the employee from stealing clients or going to work for companies that are directly competing with your company. Here is the full article on the non compete agreement.

Not Starting Your Business

One mistake people make is that they wait around for a source of funding for the business idea. Unfortunately, almost all the time, funding never comes to people who wait for it. And that causes the business never to even exist. To combat this type of a phenomenon, we recommend that you do something called bootstrapping. Here is a video on bootstrapping.

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Startup & Business Ideas Book

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I am excited to announce that I have published my first business book. Here is the link to the book on Amazon, and here is the link to my course on starting a business. When you get the course through this link, you will get a discount that is over 50%. The course has much of the same information as the book. The main difference is that the course is video-based.

Let me tell you why this is one of the most necessary books for first-time entrepreneurs. In this book, there is a balance of theoretical advice on solid business fundamentals, and real world case studies.

This book is the first in a 2-book series. After you learn how to start a business with this book, the second book teaches you how to do marketing like a pro, and get clients. Here is the link to learn more about the marketing book.
Read More…

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