Hey guys, sorry I had to take a break to focus on final year matters. Sometimes, it's not easy joggling school with a bunch of other things. Please forgive me. The last topic on the student business series was about Raising Capital, you can read it here. I want to believe you've read the previous posts on the series and you are ready to launch your business. Let's get down to it.
- The price list should be ready: The price list is probably one of the controversial part of business planning. You are trying not to over charge because your clients will be students but don't want to undercharge because no student discounts come from buying the equipments/ingredients needed. I will advise while constructing a price list, you should put into consideration how much time and resources will go into creating an item and add a good amount percentage as profit. Also, ask yourself if you would pay that much if you were a client. Of course I'm talking about a job well done here. No mediocrity allowed. You can increase it as your skill bank develops.
- Have a planner: This is all so important. Because you have your studies to focus on, you need to set aside special days you know you will be flexible to attend to your client's needs. Luckily because your clients will mostly be students, they will understand you won't be free every time.
- Choose a launch date: With everything (business page with followers, tools etc) ready to kick off, you should pick a date and build awareness towards that date. Share on all the social media pages and let the prospective clients anticipate. It builds excitement instead of just surprising them (some can argue the element of surprise can also help a brand). Be sure to include all the info on what you will offer.
