Hello all,
I've gotten some great help on here for the past few years and I've learned a lot. A few months back I posted about how my business wasn't making sales and I got some good feedback.
My business is/was a home gym product that was somewhat portable. It solved the need of people needing to workout without having the time or knowledge to do so (I provided that with my product + a book + instructional videos).
I looked at all of the flaws of my business, and realized I needed to do somethings differently. I.e. I changed the name, I changed which niche population I will be targeting, and the actual physical product (the product I was selling was costing a lot, it was too heavy and not that portable, AND a few other companies sold it already).
Now that I have changed somethings and reexamined my strengths and weaknesses I am at the point where I am ready to buy a supply of NEW product. My cold feet however comes in right now before placing this order as I don't want to end up like I did months ago with a whole supply of unsold inventory. The reason for my fear/hesitation is that when I asked a friend what he thinks about my product (well a few friends), they ask how I'm going to be different than other companies. And I ask myself that question too. There are a bunch of other companies selling a similar product/service than I am . With a lot of competition out there in a saturated market (fitness), I question whether or not primarily marketing my product towards a unique demographic is enough of a difference.
My business is essentially a system (in the form of book, and videos) for working out at home or on the go, with a box of exercise "goodies" that customers use with the system. A simple search on Amazon shows A LOT of businesses selling portable workout systems. My other "difference" besides who I'm marketing it to would be that my system provides more information than most other workout systems i.e. many businesses solely sell workout equipment, other companies solely sell information products regarding fitness and health. My business does both (however there are other companies who do both as well).
My question is, do you guys think I should go ahead with my new game plan, buy the new inventory and try to re-launch this business. Or, do you feel that unless my product is more unique than competitors it's not going to work? Any feedback would be appreciated, especially before I invest more money into it.
Thanks.
I've gotten some great help on here for the past few years and I've learned a lot. A few months back I posted about how my business wasn't making sales and I got some good feedback.
My business is/was a home gym product that was somewhat portable. It solved the need of people needing to workout without having the time or knowledge to do so (I provided that with my product + a book + instructional videos).
I looked at all of the flaws of my business, and realized I needed to do somethings differently. I.e. I changed the name, I changed which niche population I will be targeting, and the actual physical product (the product I was selling was costing a lot, it was too heavy and not that portable, AND a few other companies sold it already).
Now that I have changed somethings and reexamined my strengths and weaknesses I am at the point where I am ready to buy a supply of NEW product. My cold feet however comes in right now before placing this order as I don't want to end up like I did months ago with a whole supply of unsold inventory. The reason for my fear/hesitation is that when I asked a friend what he thinks about my product (well a few friends), they ask how I'm going to be different than other companies. And I ask myself that question too. There are a bunch of other companies selling a similar product/service than I am . With a lot of competition out there in a saturated market (fitness), I question whether or not primarily marketing my product towards a unique demographic is enough of a difference.
My business is essentially a system (in the form of book, and videos) for working out at home or on the go, with a box of exercise "goodies" that customers use with the system. A simple search on Amazon shows A LOT of businesses selling portable workout systems. My other "difference" besides who I'm marketing it to would be that my system provides more information than most other workout systems i.e. many businesses solely sell workout equipment, other companies solely sell information products regarding fitness and health. My business does both (however there are other companies who do both as well).
My question is, do you guys think I should go ahead with my new game plan, buy the new inventory and try to re-launch this business. Or, do you feel that unless my product is more unique than competitors it's not going to work? Any feedback would be appreciated, especially before I invest more money into it.
Thanks.
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