Hi! It's Zoe. The past several weeks it has been raining where I live. Did you know every minute one billion tons of rain falls to Earth! Anyway, this rainfall has caused me to stay indoors a lot and be even more creative. So, for the past few weeks I have been making and selling duck tape wallets. I have learned how to figure out my profits, after costs, and to sell my product to people convincing them it wasn't a run-of-the-mill wallet.
When I first made a duck tape wallet I did it because I thought it would be a cool thing to have. My first one didn't turn out so good, so I decided to look up, on the Internet, a way to make them. I found a great tutorial and I started making them in a flash. But, I only had four types of duck tape, and it was getting boring. I asked my Daddy if he would take me to buy some more tape, and he said yes, though, I would have to pay him back. we bought some of the more popular patterns, like, bacon, mustaches, and camouflage. The total costs for materials was about $15 dollars. I think that's a lot of money just for materials, but I believed I could pay it back with my profits. What I learned was that my total sales minus the costs of supplies would equal my profits. I was so excited to start my small business!
Even though I would probably make some profit, I mostly did this to practice being an entrepreneur. Some business rules I created for myself are, I always stick to my rate, and I never give my product to a person without them paying for it first.
Over time, I made my wallets more desirable by adding pockets inside them and different color interiors. I also created a business card with reasonable promises for my buyers, like repairing the wallets for free and giving commissions to people who refer customers to me. Sometimes, I get special requests. With all these promises and requests, my business is skyrocketing, and it was all thanks to great management!
This great business was created one rainy day. I can't wait to see where it leads. Bye!
When I first made a duck tape wallet I did it because I thought it would be a cool thing to have. My first one didn't turn out so good, so I decided to look up, on the Internet, a way to make them. I found a great tutorial and I started making them in a flash. But, I only had four types of duck tape, and it was getting boring. I asked my Daddy if he would take me to buy some more tape, and he said yes, though, I would have to pay him back. we bought some of the more popular patterns, like, bacon, mustaches, and camouflage. The total costs for materials was about $15 dollars. I think that's a lot of money just for materials, but I believed I could pay it back with my profits. What I learned was that my total sales minus the costs of supplies would equal my profits. I was so excited to start my small business!
Even though I would probably make some profit, I mostly did this to practice being an entrepreneur. Some business rules I created for myself are, I always stick to my rate, and I never give my product to a person without them paying for it first.
Over time, I made my wallets more desirable by adding pockets inside them and different color interiors. I also created a business card with reasonable promises for my buyers, like repairing the wallets for free and giving commissions to people who refer customers to me. Sometimes, I get special requests. With all these promises and requests, my business is skyrocketing, and it was all thanks to great management!
This great business was created one rainy day. I can't wait to see where it leads. Bye!
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