๐๐ญ๐ญ๐๐ฆ๐ฉ๐ญ ๐: ๐-๐๐จ๐ฆ๐ฆ๐๐ซ๐๐ ๐๐จ๐ซ ๐๐ข๐ซ๐ฌ๐ญ ๐๐จ๐ฉ๐ฒ ๐ฌ๐ก๐จ๐๐ฌ [๐๐๐๐]
Reflecting on our college days, we were a team relentless in seeking diverse experiences and learning opportunities. This time, our entrepreneurial spirit led us to dive into the ecommerce realm, focusing on shoes, particularly in the realm of first-copy shoes which boasted significant footfall in physical stores but lacked a robust online presence. ๐๐ป
We meticulously planned every aspect โ from website development to sourcing, inventory management, and distribution. However, the journey was riddled with challenges that tested our resolve and taught us crucial lessons.
Building a seamless e-commerce platform was no easy feat, especially ensuring accurate stock management and order fulfillment. Limited equipment hampered our ability to provide high-quality shoe images, affecting the overall user experience. ๐ธ๐
While we successfully sourced samples and made initial sales, inventory management soon became a major hurdle. Suppliersโ batch sizes forced us to buy entire sets even when we needed a single size, leading to imbalanced stock levels and increased costs. ๐ฆ๐ธ
Our target market, encompassing remote two and three-tier cities, posed unique challenges. The preference for physical stores and price sensitivity hindered online trust and required expensive pricing strategies. Additionally, establishing efficient packaging and delivery systems for these remote locations demanded sophisticated infrastructure. ๐๏ธ๐
Despite challenges, we persisted and achieved breakeven, yet profitability remained elusive. The realization dawned that part-time efforts were insufficient for such a demanding venture. We underestimated the technical complexities and the full-time commitment required. โณ๐ผ
๐ ๐ข๐ง๐๐ฅ ๐๐ก๐จ๐ฎ๐ ๐ก๐ญ๐ฌ ๐ค
๐๐๐๐ฌ๐จ๐ง ๐๐จ๐ซ ๐ ๐๐ข๐ฅ๐ฎ๐ซ๐:
-Failure to learn from past mistakes, particularly in inventory and delivery infrastructure.
-Underestimation of technical requirements and market dynamics.
-Attempting to penetrate a market skewed towards physical stores over online platforms.
๐๐๐ฌ๐ฌ๐จ๐ง๐ฌ ๐๐๐๐ซ๐ง๐๐:
-Full commitment and effort are imperative from inception.
-In-depth market understanding and domain knowledge are non-negotiable.
-Seek mentorship and guidance from industry veterans to navigate challenges effectively.
While the venture concluded with disappointment, the lessons learned pave the way for wiser future endeavors. Every setback is a stepping stone to growth, reinforcing the importance of thorough preparation, market insight, and unwavering dedication in entrepreneurial pursuits.
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#journey #lessons #ecommerce
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CodeClowns Origins: How it all began
Attempt 1: Optimizing College Bus Operations [Year: 2015]
Attempt 2: Building a Hyperlocal Delivery Application [Year: 2015]
Attempt 3: QR to order food and manage your Restaurant [Year:2016/17]
Attempt 4: E-commerce platform for B2B & B2C Wearables and Mobile Accessories [2017]
Attempt 5: Backpackers hostel, abode the clouds, Built on Cloud [2017]
