For most of us starting a business is scary, especially if you’re self funding. You have a great idea for a product, but bringing it to life is intimidating at best, especially if you have limited capital (say under $20k) and have the goal of expanding it into a real business. Adriana Botti started with even less that that, had no outside investment and succeeded to hit a $1 million in sales #goals year 4 of your business of starting Little Words Project. If you’re not familiar, Little Words Project is that super cute beaded bracelet brand that has positive messages on them. They are beyond uplifting and spread kindness and joy everywhere they are worn. You can also register them and wear and share them with your friends who need a little encouragement and track the journey of your bracelet from wrist to wrist. We sat down with the superstar to talk business, growth, pricing and advice!
- What verticals do you offer and what has been the most lucrative in growing your business?
We do everything from Facebook/Instagram sales to corporate gifting to college campus events and sponsorships for partner events. We have found that the most lucrative of them all is the collegiate ones because not only do they all buy upfront but continue to spread the word making it a really great marketing opportunity for us moving forward!
2.Pricing. Many of us struggle with pricing. Should it be based on a perceived value or based on your Cost of Goods (COG)?
Here’s the thing- you want to do your best to price your product at a price that will serve your needs (make you a profit and keep you open for business) while at the same time matching perceived value- that’s how you know you’ve found the sweet spot price point. Every industry and company is different, but for us,