Faculty: Business and Law
School: School of Economics, Finance and Law
BSc (Hons) Business Economics
9 July 2015
Direct quote from Warren Buffett: 'On earning – never depend on single income, make investment to create second income.'
So here I am in the middle of the night looking at different marketing strategies for d’ brew, and I was reading this online article and came across Warren Buffett quotes.
As I drown in to my thoughts I realise that I already have a second investment that hopefully in the future will become my second income. So let me talk about this second idea, Jade Boutiques. This is an online jewellery shop offering natural, unheated rare gem stone jewellery. Here comes the awesome part…we aim to provide customers with unknown, unique rare gem stones that are not currently available in the market due to poor product knowledge. By the way, my second website is also under construction and my awesome designer (Nuwan) is kind of busy these days.
We are not moving fast to set the site up. But we still managed to generate some Facebook traffic for Jade Boutiques, and have managed to sell our first couple of pieces of jewellery. I am pretty sure you guys are going to laugh at me when I say that we did make that sale offline. The reason is that when you set a web page up, I do not think that it will generate enough traffic in the first few months. So you need to find your connections offline to start selling.
As I promised when I start writing my blog, I will give you a tip related to online business. This is about using Google to find the right influencers to your website. Google is everyone’s favourite search engine, yet there are many unknown areas which you can use for setting up your start- up without extra cost. So the new tool I discovered is named ‘Google Alerts’. Why Google Alerts? When you do online business (e-commerce) it is important to generate traffic to your website. If you just design a fancy website and think that you will be rich in no time, you’ve got it wrong (from my own experience) so a good way to generate traffic is finding influencers for your product or service. This could be another entrepreneur, blogger, vlogger etc. They can be an immense support to your start-up as they have many followers. What you can do is send them some free samples that they can review. For example, I can send either some tea samples or nice jewellery to someone who is a social media influencer and ask them to review. But the question is to where to find them. I mean, come on, this is your precious product that you do not want to give out free of charge to everyone – you want to find the perfect influencer for your product or service. This is where Google Alerts comes in handy. It enables you to find the right influencers for your product.
I hope this is helpful. Please comment below if you have any questions related to this topic or another. As young start-ups, I think we really can help each other. Stay tuned as I will update on ARU’s clearing training day. It is such an awesome thing to become a Business School intern. I cannot wait for this training and come to think of it, it’s free ‘real-job’ training while getting paid. Who else can say that their university helps them to get interest on their investment even before they graduate?
“Jewellery has the power to be this one little thing that can make you feel unique.” Jenny Kwon.