Whatever business you want to start, start small.

[andrea532]

Hi everyone, I hope this post can be helpful to all aspiring entrepreneurs like me who want to be free with their own time instead of spending 40 hours a week doing the same thing over and over again.

Today I want to share a story of failure with you.

My Story

As an aspiring entrepreneur, I struggled to come up with business ideas. The only ones that came to mind were online courses in the financial sector, where there are already 100,000 people involved.

Lacking ideas and not focusing on other activities out of fear or incorrect judgment, I stumbled upon an idea that my partner and I came up with together. So far, so good, except for the fact that it was in the lipstick sector.

How much does a man know about lipsticks? As far as I know, zero.

Since I couldn't think of any other ideas, and the idea of creating a no-transfer lipstick that doesn't dry out the lips seemed brilliant, I thought, "In such a big market, how can I not manage to sell a lipstick?"

So, let's roll up our sleeves and get to work.

Execution and Project

So, what do we need to start this business?

We need a laboratory to make the first samples. While searching for a lab, we wanted a small quantity to test the market, but here in Italy, or I believe in any country, they don't make small quantities. Standard companies make 10,000 pieces with a minimum estimate of at least 22,000 euros, which is an average annual salary in my country.

So, we researched until we found a lab that would make 400 pieces for us.

Great, it's done, right?

We opened a VAT number through a portal, which is a very convenient service with accountants ready to support you in every way, costing 450 euros + 244 euros for VAT registration.

We started making the first formulations. My girlfriend tested them and made more tests until we found the right one. Estimate: 1900 euros.

The product was ready, the formulation was okay, and we started working on the colors. Choosing the colors cost another 1700 euros for colorations and tests.

Meanwhile, as we worked on colors and formulations, we also created the boxes to put the lipsticks in, paying the graphic designer 350 euros for the design and 1210 euros for production.

A year had passed, so another 450 euros for accountants.

The final step after testing the product's stability in its packaging was production: estimate 4600 euros.

Now they were ready for sale.

Sales Phase

We were ready with 400 pieces for sale, created the website, and chose Shopify Start to avoid extra expenses and test the market.

We linked Instagram to the store, created content without showing our faces because I am a man who knows nothing about lipsticks, and my partner works for a lipstick company and therefore can't create content for others due to her contract.

We involved influencers, but nothing sold. I am trying to improve the offer and the website, but still no sales.

So far, I've had 150 visits to the site, mainly from Italians.

I am very demoralized and think I might have to sell off all the lipsticks and face failure.

Maybe for you, 10,000 euros is not much, but for me in Italy, it's quite a lot.

**Conclusion**

Never invest too much money in an idea. Always stay low, and when the first sales come in, jump in as fast as you can.

I'll attach photos of my product since it's not a sponsorship because I only sell in Italy.

 

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[Segawa]

Hi everyone, I hope this post can be helpful to all aspiring entrepreneurs like me who want to be free with their own time instead of spending 40 hours a week doing the same thing over and over again.

Today I want to share a story of failure with you.

My Story

As an aspiring entrepreneur, I struggled to come up with business ideas. The only ones that came to mind were online courses in the financial sector, where there are already 100,000 people involved.

Lacking ideas and not focusing on other activities out of fear or incorrect judgment, I stumbled upon an idea that my partner and I came up with together. So far, so good, except for the fact that it was in the lipstick sector.

How much does a man know about lipsticks? As far as I know, zero.

Since I couldn't think of any other ideas, and the idea of creating a no-transfer lipstick that doesn't dry out the lips seemed brilliant, I thought, "In such a big market, how can I not manage to sell a lipstick?"

So, let's roll up our sleeves and get to work.

Execution and Project

So, what do we need to start this business?

We need a laboratory to make the first samples. While searching for a lab, we wanted a small quantity to test the market, but here in Italy, or I believe in any country, they don't make small quantities. Standard companies make 10,000 pieces with a minimum estimate of at least 22,000 euros, which is an average annual salary in my country.

So, we researched until we found a lab that would make 400 pieces for us.

Great, it's done, right?

We opened a VAT number through a portal, which is a very convenient service with accountants ready to support you in every way, costing 450 euros + 244 euros for VAT registration.

We started making the first formulations. My girlfriend tested them and made more tests until we found the right one. Estimate: 1900 euros.

The product was ready, the formulation was okay, and we started working on the colors. Choosing the colors cost another 1700 euros for colorations and tests.

Meanwhile, as we worked on colors and formulations, we also created the boxes to put the lipsticks in, paying the graphic designer 350 euros for the design and 1210 euros for production.

A year had passed, so another 450 euros for accountants.

The final step after testing the product's stability in its packaging was production: estimate 4600 euros.

Now they were ready for sale.

Sales Phase

We were ready with 400 pieces for sale, created the website, and chose Shopify Start to avoid extra expenses and test the market.

We linked Instagram to the store, created content without showing our faces because I am a man who knows nothing about lipsticks, and my partner works for a lipstick company and therefore can't create content for others due to her contract.

We involved influencers, but nothing sold. I am trying to improve the offer and the website, but still no sales.

So far, I've had 150 visits to the site, mainly from Italians.

I am very demoralized and think I might have to sell off all the lipsticks and face failure.

Maybe for you, 10,000 euros is not much, but for me in Italy, it's quite a lot.

**Conclusion**

Never invest too much money in an idea. Always stay low, and when the first sales come in, jump in as fast as you can.

I'll attach photos of my product since it's not a sponsorship because I only sell in Italy.

"Women in Uganda love lipstick." And just looking at your product it gives me a sense that your target is middle class. Why not try outside Italy

 

[Stargazer]

'Liquid my Love' probably sounds great in Italian as most things do but in English this just sounds strange.

You would say for example Mare Blu and we would say Blue Sea. If you did literal word order translation it would be Sea Blue. So I rather dread to think that your product is called My Love Liquid and I know your audience so far has been in Italy but you have to think of this sort of thing.

And then it says it is liquid lipstick.

So does that mean it is literally liquid and applied using a brush like nail varnish. Is that what it is?

Because isn't one of the reasons modern lipsticks were invented was to avoid messy handbags 100 years ago?

Presumably lip gloss is also liquid as I see young women applting it with a brush I guess but there must be a reason the cosmetic companies use teh word gloss and not liquid.

Liquid just sounds messy.

Any of that make sense to you or your girlfriend? (I'm possiby 100% incorrect about all of the above though )

I agree with your overall premise that you could have started smaller though and especially get some pre-orders in first.

All is not lost though. Especially if I am right about the name.

'Men Hate Women' is a great book no one read. When an English publisher read it in Sweden and thought about the character and a distinctive mark she had on her, she changed the title to 'The Girl with The Dragon Tattoo' and it sold like hotcakes and got made into a big film such was enthusiasm for the book.

Only thing that changed was the title.

Dan