This is the case study I wanted to add in my last blog
A friend of mine always used to send me chocolates, every time she prepared a new variety at home. In February this year following a miserable accident, her husband had to undergo multiple brain surgeries and in roughly two and half months, she was drained financially to the tune of 15 lakhs. With her husband still recovering from serious brain atrophy, with ongoing EMI and other expenses, her salary being no match to meet the growing financial needs, she took up making chocolates a little more seriously.
In end July she hosted a sale in her own residential complex and chocolates sold out in 2 hours. Just a month later she took part in a food festival, where 85% chocolates were sold out again.
Here are the rough stats in one month
Over 60 Customers
To manage production, she now pays helping hand for packaging
A potential customer has already expressed interest to invest in large scale production with her assistance. She is certainly not interested in external investors now. She is just focusing on increasing her production capacity
Many would be interested to invest for sure. It is never about the big “ideas” - it is the “execution” and the “numbers” that attracts investors.
I wanted her to face a poor sale day to evaluate her mental strength. She did. When I spoke to her after that, she was all set to launch her diet chocolates. That is the key takeaway - nothing can stop when you are mentally ready and prepared to take those leaps, plunges and falls.
Marketing Strategy: Pitch first, plan later
Market Research: Live feedback from first time customers
Seed Funds: Couple of Thousands
Support system: None
Facebook Page: Click here
Do you really need a lot of money to invest in startups always? Is the entrepreneur in you ready to take that fall now to rise beyond your current level?