Budding Entrepreneurs (Spring 7)
After the sale, look at what products did not sell and discuss why.
- Were they too expensive?
- Did they look messy?
- Had the price sticker fallen off or the care label and nobody knew what to do?
- Did the bag break that you put them in (wet pots in thin paper bags do not work well) and you had to give a refund (give the customer back their money)?
Also talk what products sold out first.
- Why were customers buying those ones?
- Was it because they were good value for money?
- Or looked good?
- Or smelt wonderful?
- Perhaps they were something useful or maybe they were ideal presents?
It is important to write up a list of “lessons learnt” – which includes what worked very well and what you need to remember for next time that could be improved. Perhaps there was something that everyone forgot to think about – having change in your money box?
Create a checklist to make sure you have everything you need, to include tables, change calculation table, pencils, bags for your products, your posters are clearly displayed, put a notice on your school website if appropriate/teacher approved, change for your customers, an inventory of products to be sold, your products are clearly priced and look good – remember tissue paper and a bit of ribbon works wonders in terms of presentation.
All good entrepreneurs make mistakes but they learn from them and also look at ways to improve! Listening to your customers is also very important….