Inside My Product-Based Business: Struggles of Scaling a Global Brand | an honest talk

Introduction

This tutorial dives into the behind-the-scenes journey of building a product-based business, specifically focusing on the struggles and strategies involved in scaling a global brand like Ezecos. It draws insights from Marketa Bosakova's experience in launching her cosmetic business and provides actionable steps for aspiring entrepreneurs facing similar challenges.

Step 1: Understand the Challenges of Starting a Business

• Recognize that launching a product based on your passion can be difficult.
• Be prepared for a variety of challenges, including:
  • Cash flow issues
  • Logistics and supply chain management
  • Marketing strategies
  • Production scalability

Practical Advice

• Keep a journal or log of your experiences to track progress and reflect on challenges.
• Surround yourself with supportive individuals who can provide feedback and encouragement.

Step 2: Gather Feedback and Reviews

• Actively seek feedback from customers to improve your product and service.
• Utilize reviews to build credibility and trust with potential customers.

Practical Advice

• Create surveys or feedback forms post-purchase.
• Engage with customers on social media platforms to encourage reviews.

Step 3: Develop a Scalable Production Plan

• Consider moving production to a lab if you're facing limitations in your current setup.
• Research and identify labs that can handle larger volumes while maintaining product quality.

Practical Advice

• Look for labs that specialize in cosmetics and have positive reviews.
• Ensure they can meet your production timeline and quality standards.

Step 4: Explore Effective Marketing Strategies

• Investigate various marketing channels to find what works best for your brand.
• Consider leveraging social media platforms, particularly TikTok, to reach a broader audience.

Practical Advice

• Collaborate with TikTok creators to create authentic content that showcases your product.
• Test different advertising methods to see which yields the best return on investment.

Step 5: Manage Finances Wisely

• Be mindful of your cash flow and budget, especially if funding is coming from personal savings.
• Create a financial plan that includes expenses for production, marketing, and operations.

Practical Advice

• Use accounting software to track expenses and revenue.
• Set aside funds for unexpected challenges or opportunities.

Step 6: Maintain Accountability and Transparency

• Document your journey publicly to keep yourself accountable.
• Share both successes and struggles with your audience to build trust and engagement.

Practical Advice

• Use social media or a blog to share updates on your business journey.
• Be honest about challenges to connect with your audience on a deeper level.

Conclusion

Building a global brand like Ezecos involves navigating numerous challenges, from production scaling to effective marketing strategies. By understanding the hurdles, gathering customer feedback, and managing finances wisely, you can create a sustainable and successful business. Remember that the journey is ongoing, and maintaining transparency will help you stay connected with your audience while keeping yourself accountable. Cheers to your entrepreneurial journey!