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My full assessment

Set up and Planning

  • Assessed the value of the market
  • Tried to sell to customers
  • Confident
  • Neutral

Market Research

  • Very Confident
  • Very Confident
  • Confident
  • Neutral
  • Very Confident

Finances

  • Neutral
  • Not confident
  • Confident
  • Not at all confident

Sales

  • Very Confident
  • Confident
  • Confident

Operations

  • Confident
  • Neutral
  • Neutral
  • Not confident
  • Confident
  • Confident
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KC
  BMNY

Kale Clothing Entrepreneur

Location
Warren, New Jersey, United States of America
Venture Industry
Retail
Languages spoken
  • English
Recent Activity

What I need help with

My background as an entrepreneur

My current challenges

Our challenges mainly revolve around the idea of a business plan. Though we have been operational for almost a year now before we reopen we want to make sure that our plan is solid and that we are maximizing the most out of our time and money that we are putting in. More specifically when we mean, "business plan" we particularly mean the finance aspect of running a business. We are trying to figure out how to determine monthly projections versus the budget that we have set to figure out approximately when we will break even. Furthermore, as a clothing company, we have to create a profit margin for the clothes we are selling to correlate with the expenses that come with it. Overall I would say that we are a little bit lost financially and we would like to understand everything before taking out loans and diving in headfirst. Another aspect of business planning that we would like to work on is the idea of delegation and executing jobs. As a small business owned by two young people, it is difficult for us to correctly assess if certain people are worth paying for a certain job. We currently have one person hired from the freelance website of Upwork for Customer Service, but no one else. Since we are both still in school, it is unreasonable for us to do everything ourselves. The idea of hiring more people and expanding our business has always been something that seemed very rational to us, however, we simply do not have the resources to do so. I suppose our goal is to be able to balance our work-life from our daily life by a delegation of tasks to people that we hire, however, the employers that are chosen should be effective and cost-efficient. Most other challenges that we have run into are more trivial and could most likely be solved with a couple of questions.

Actions I’ve taken so far

So far we have taken numerous actions that have built up our business to what it is today. We have legally registered our business as a corporation and have all legal documents secured. Furthermore, we have our suppliers, and the target audience sorted out. We also have a basic layout for a marketing plan that heavily involves social media, especially TikTok and Instagram- both of which we have acquired a large loyal following too. Lastly, we are very familiar with Shopify and have an account and website along with analytics to help determine what's working for us.

My future goals

Our future long term goal is to make our brand a well-known e-commerce boutique that extends beyond the reaches of social media and potentially will be bought by a larger business. However, the goal that I wish to truly achieve is to obtain all the knowledge I possibly can to successfully run a business, because to me that is truly something that can stay with you all of your life. Shorter-term goals would be to have a very solid business plan free of mistakes or flaws so that when we launch in mid-March everything will be smoothed out and we can focus on the future rather than fixing our mistakes in the present. A one-year goal would be to break even as a corporation, and a one year and a half- 2-year goal would have individual profit.

My motivations to work with a mentor

I want to learn more than what can simply help provide for this particular business, and I think that by working with a mentor I can tap into knowledge about the business world beyond just retail apparel. Not only have we been advised to look into finding a mentor to help with our business, but I also think that the concept of sharing experience to help others is really a gift. Furthermore, when lost, a mentor can provide you with more insight than a 3-hour surf on the web can provide, therefore saving a lot of valuable time. Having a human contact who has had experience adds the touch of emotion and opinion rather than facts, and allows your questions to be answered clearly and concisely. I am motivated to work with a mentor because I truly believe that not only can they help our company reach our true potential, but also ourselves.


About my venture

Kale USA Inc Started 2021

We are a women's e-commerce apparel company called Kale USA, located in New Jersey. Our targeted audience is teenagers to women in their late 20s, early 30s. We founded this company last year and used dropshipping as our means to sell items. However, with the ease of dropshipping also came the predicament of little to none profit, low-quality items, and unreliable shipping times. We mainly use social media to market our brand, and within the first 3 months of opening, we gained a following of 25k on Instagram and 10k on TikTok, which came to our advantage as our followers became our customers. We made the decision to close temporarily to remake our brand and turn it into a more authentic brand by using wholesaling.

Countries of operation: United States of America