When I first came up with the idea for the 10 Dollar Business Challenge I hadn’t really thought about the kind of startup I wanted to create. I had toyed with a few ideas before settling on an creating outlet for my creative output. I wanted to create artwork and maybe start a monthly zine – something I had always been fascinated with but never got around to actually working on.
As the soft launch date for the 10 Dollar Business Challenge approached, however, I started to think there wouldn’t be much interest/demand in artwork created by me – certainly not enough to support a startup – and so I changed my plans. Among the many ideas that were floating around in my head was an idea for a startup which would take old neckties and slim them down to make them look more modern. I wear ties to work and have for a number of years. During this time it has occurred to me that as with anything in fashion trends come and go and it’s hard to find anything other than something that falls in line with what is the fashion du jour. If everyone’s wearing paisley, you’ll be hard pressed to find anything other than paisley. If everyone’s wearing plaid, you better prepare to do the same.
I have always enjoyed going to thrift stores but I rarely ever buy anything. Every now and then I’d look at ties but always found that the ones that stood out, the ones with patterns and colours I was immediately drawn to, were also ties from a bygone era, an era which seemed to favour ties wide enough to be worn as aprons. Obviously, I wouldn’t buy those but it got me thinking: what if you could take these beautiful ties and slim them down. More importantly, however: if I liked this idea, there had to be others who would as well.
And thus The Reties Necktie Co. was born. It wasn’t called that initially and for the first couple weeks of the challenge I ran it as “Unnamed Business”.
When March 1 rolled around, I knew what I needed but didn’t find the time to go around looking for these items until a week later. To an outsider my shopping list would have looked random, maybe a little odd as it included a used iron, sewing supplies and neckties. After a lot of comparison shopping and back and forth between dollar stores and thrift stores, I found all the items I needed to start my business. I had spent my entire budget down to the last penny.
Exhausted, I didn’t begin work on my neckties until the following day. My first attempt at altering a tie went horribly wrong. The scissors I had were less than ideal and I ended up ruining the tie. With only two ties remaining I decided to practice on two old ties I had in my closet before ruining my last challenge ties as well which would have left me with no ties to alter and no money to purchase more. After two practice runs I felt confident enough to try my hands at my challenge ties and was happy with the results. They weren’t perfect but still looked great.
I now had product but had not really put much thought into how I would sell my ties other than “I’ll just do it through social media”. Turns out, social media would have none of it. Very few people were willing to help spread the word by retweeting my offers on twitter, reposting them on instagram, sharing them with friends and family on facebook or doing whatever it is you do on google+. I tried kijiji, too, but did not see the response I had hoped for. People liked my ties but apparently needed more to go ahead and actually purchase one. Social media was not kind to Reties this first month but it will be. I just need to find my angle.
Things took a turn for the better three weeks into the challenge. Holly Caruk, a reporter with CBC Manitoba, had somehow heard about the challenge and decided to do a story on it. This was great publicity for the 10 Dollar Business Challenge and not only led to another story – this one by Luke Thiessen for Classic 107 – but also my first three sales. These sales were immensely important for the Reties Necktie Co. because not only was I able to buy more stock but I was also able to buy materials for packing my ties. In my mind, people would be more inclined to purchase ties if they were presented in an appealing manner. These were great ties after all but they needed to stand out, they had to make customers want them for the packaging alone.
These initial sales were also important as I felt that in order to sell online, I needed an online store and in order to have an online store, I needed more than two ties to display. I currently have six ties ready to go as well as a few more I am still working on. I think an etsy store might be in order. Or at least I thought so until I decided to change the packaging of my ties.
I love the little wooden crates I had bought and think they do a great job at presenting the ties. At the same time, however, I do not think they are in line with the brand I see myself creating for the Reties Necktie Co. Thankfully, I came to this realization before buying more than four crates. I am determined to use them, however, and am looking to sell four reties in these crates and reinvesting whatever profit I make into the kind of packaging I really want. Stay tuned for this updated look to happen sooner rather than later.
And that’s where I stand one month into the challenge. I truly believe that my next few sales will allow me to take my startup to the next level which is still one of the lower levels, half a step off the ground maybe, but I’m still moving in the right direction. If you would like to see the ties I currently have to offer, please send me an email at dys167@gmail.com. They come in an awesome wooden crate and are going for only $15. Not only will you have a great one-of-a-kind tie but you will also have helped me move my startup one step closer to being the great company it will be one day.
10 Dollar Business Challenge 