We were pleased and overjoyed to be featured on April'2011 Lifestyle Magazine. For those whom had subscribe do check it out on Pg90. And for those whom did not, it's alright. I have include everything in here!! Its a joyful event for Small Animals Pet-store.
BUSINESS
- Provide a brief history and background of your business, examples: When was it started/co-owners/capital input/sales statistics…etc (Somewhere along that line)
Ans: We started the busines in July'08 and it was a partnership with my husband. We did not fund a lot in the business as we tried to keep the expenses low. But the main investment was our time and the effort to keep the business going. Sales were not that strong initially, as there are other online stores around doing the same business. But as time past, consumers will then take notice of our presence in the market and start comparing the services and that we provided.
- How and why did you start this business?
Ans: Firstly, I'm an animal lover and also a graduate in I.T., and at that time my husband get to know some of the pet food supplier in the industry. With the fundamental needs that we had, it came out like "why not give it a try?".
So with the knowledge I had in I.T., we decided to start our online business. I'm involved of all the I.T. related matters (e.g. building of blogshop, updating new products or webstore editing, order processing etc.) My husband will be sourcing for suppliers and financing the Profit/Loss, etc.
- What are the challenges and problems you encountered at the start if any?
Ans: There are three main challenges that we faced. First, was Time constraint. When we first started out, my husband was working during the day, so he would have to make arrangement to drop by to our supplier warehouse to pick up the stock that would need to be deliver at late evening.
Secondly, was the Space constraint, we do not have the luxury of large space to keep our stocks. What we do even till now is to only to get stocks that was ordered by our customer. In other words, we have a very low inventory list. Unfortunately for the lack of space, it indirectly incur more cost for our goods as we are unable to purchase in large quantity and more trips had to be made to and fro from our supplier warehouse.
The final challenge will be the mangement of our relationship. My husband and I do have many arguments initally, because of the different perspective and vision. But we manage to learn how to communicate more, accept different ideas and open to criticism. Over communication is better than under communication.
- Describe how you expanded the business and how the business progressed.
Ans: Currently we have not start to expand our business at this current moment. My husband is still in some other business, and we are just taking thing in stride. Whatever happens we will just manage it.
Of course we do have the intention to elevate the business to new heights. But it will depend on the direction of the whole business and how we are moving in the future. We are considering enhancing our online store to a better platform (e.g. better interface and more interaction between us and our customer). Of course, moving into retail segment if things work out well are a great bonus for us too.
- How did you promote your business and which method was most successful and which was most unsuccessful?
Ans: We started promoting our business through forums in Singapore, we did a couple of advertisment with Google/Yahoo, and the rest are through referrers and word of mouth. Most of our customers today's are regulars, and they are the best testimonies that one business can have.
In my opinion, there are no best or worst way in marketing, as long as you expose your ideas through any means, your jobs is done. Because we are a/an online business, no matter what you can write in your website we are still at the mercy of the consumers.
What I can advise is just keep the business simple and delivery your trust to consumer; with this in mind I believe it is the best tool in marketing.
- Before starting this business, did you have past experiences, additional help or relevant skills and knowledge that aided your ability to run this business?
Ans: The only relevant skill and help we had is the I.T. background I had, and the people my husband able to know during that period of time. When we are in the planning and building stage, there are a lot of guessing and trying. Only through trying and failing, you'll get to a point where you know you are maybe right. And you do it.
- What are the main expenses incurred monthly and on average, what is your total monthly sales and net profit?
Ans: Well, I do wish to share it with you, but for us, we would like to keep it confidential.
PERSONAL
- What have you learnt from starting this business if any?
Ans: In this business, we had learned to see things from a different perspective, be patient, and most importantly failing.
Perspective - We started to see things from a bird eye view and try to cover the major issue that consumer encounter. For example, maybe the dish you cook at home received very good comments from your family members, but once you bring it to the masses and sell it, it's not sellable. So our objective is to reach out to the 70%, 80% of the same group that share the same interest. When the sample group get bigger, you will always have a major group that share a common interest/liking, and a minor group that have a special interest/liking.
Patience - "Rome was not built in one day". Whatever we do, we need to be very patient in order for us to see the result. We can't expect to plant a seed today and see it blossom the next moment.
Failing - I would say this is the best lesson that I've learn in the process of creating the business. No matter what you do, failing is a path that comes before success. Only by failing you will know what not to do, and focus only on what need to be done.
- How have you benefited from starting this business?
Ans: Beside the above lesson that I've learned, it makes my husband and I understand each other much more and also strengthen our relationship to a next level. I think this can't be measure in terms of money.
- What are the significant changes in your spending patterns and lifestyle before and after having this business if any? (Do elaborate)
Ans: There are not many changes in the spending habits before and after having this business. But of course, we have more-in-depth understanding of the meaning of value creation.
Cheers!
Small Animals Pet-Store