October 19, 2008

myDuctbills

Assigning item #’s

For all you young entrepreneurs out there, that want to start your own business selling a product (Duct Tape Wallet, beaded necklace, photography print, flower pot, etc for example), I wanted to share a little lesson I learned early on: the importance of assigning item numbers.

When it is just you, by yourself, and you are hand making one of a kind products casually, then you don’t need to worry about items numbers. But, if you want to gain efficiency, streamline your production processes and transition to more of a volume sales merchant then you will need to know how to assign, and what an item # is. Essentially, by assigning an item number, you are giving each of your products a specific code name. No one else has the same name. And unless the product changes, the item number always stays the same. This will allow you to better keep track of how many of each design you sold, it will make inventory tracking easier and its nice to have a specific code for each product in case you want to start selling your product to a stores someday… I’ll write how to go about doing that in a separate post. Next young entrepreneur lesson up: how do I make a wholesale order form and get my product in a store?

Below is a screen-shot from my Ductbills days. Demand eventually took over, and I had to figure out how to make my wallets faster. To do so, I would make several units of each design rather than one of a kinds. This allowed me to get in a groove and bust out 25 camo/pink wallets at a time, rather than just 1, and then I’d assign an item #: specialty4, for example.

Duct Tape Wallet

Garett Croft Stenson

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