Top 5 Conference Networking Tips

conference networking

Conference season is upon us. Let’s talk about networking. I’m Angie from Team Lucky Break, and I’m here to share my top 5 conference networking tips.

 

Surprisingly, many people don’t really know how to network. Seems simple right? Just go and talk to people! I hate to break it to you my friend, but networking is so much more than being friendly and bubbly. It’s about making meaningful connections in a sea of people. Many don’t realize that to successfully network, you need to have a strategy in place. I’m here to help you take the guesswork out of strategic conference networking.

conference networking

 

Top 5 Conference Networking Tips

I’ve gone to dozens, if not hundreds of networking events, conferences, trade shows, and business mixers. Some were for my business, bobo design studio, a lot more were for my previous roles in media and advertising. Doesn’t’ matter the content of the show, the rules are the same.

 

I’ve outlined five simple conference networking tips that I’ve learned over the years that will make you a smarter, more strategic attendee at your next big event. To help illustrate how one would implement these techniques, we’ll follow along with a hypothetical brand owner named Lucky who designs and creates her own line of adorable dog-themed stickers and stationery.

 

conference networking

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The Inevitable Downside of Faire

downside of Faire

As part of my ongoing blog series about emerging wholesale marketplaces, I’ve been exploring the potential of Faire (formerly Indigo Fair). While there’s certainly a lot to love about working with this wholesale platform for artisans, we don’t often hear much about the disadvantages. I’ve spent weeks studying this wholesale platform and speaking to retailers and brand owners who have a stake in the marketplace. I’m eager to share what I’ve learned about the disadvantages of Faire so that you can make an informed decision for your business.

 

The Inevitable Downside of Faire

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Faire executives have agreed to address my concerns, and I look forward to sharing their response in an upcoming blog.

 

FAIRE CHARGES A HEFTY COMMISSION, ESPECIALLY ON FIRST ORDERS

A significant downside of Faire wholesale is their fee structure, which has evolved over time. The rate for new makers onboarding in early 2019 is 25% on the first order from any buyer.  It then becomes 15% on subsequent orders from the same buyer. Faire frequently extends net 60 terms to shopkeepers, and makers can elect to pay an additional 3% fee for immediate payment. You can also choose to wait thirty days for payment and skip the 3% fee.

 

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That translates to a substantial commission of up to 28% on Faire orders. As a consultant who’s had the privilege of coaching hundreds of brands through the mechanics of product pricing, those margins make me cringe. Let’s explore how that breaks down for a product that retails for $30.

 

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Lucky Break- 2019 March Calendar

2019 March Calendar

The 2019 March Calendar is here. I cannot believe it is March already. We have a lot cooking this month at LBC. So much so that our designer Sarah had to rework our entire calendar template to squeeze everything in.

 

2019 March Calendar

 

 

We broke some serious ground this year, and we are only 60 plus days into 2019.  The most exciting news coming to you by way of our upcoming mastermind program- The Lucky Break Think Tank. Before we could even get a newsletter out, we sold out of Founding Membership seats.  But don’t fret, we have opened up Early Bird Memberships.  Not sure what I’m talking about? Learn more about the Think Tank here.

 

GMP Live kicks off this month.  It’s our only live class for GMP that we will offer this year, and we are thrilled to see it sold out of seats!

I’ll be at the Tennessee Soap and Candle Conference March 23rd, then coming home to prep for Craftcation in April.

My beloved BHB group has been working hard on their curriculum. They are in the home stretch with graduation at the end of the month.

 

There is an insane amount of new things happening, so make sure you are following along on all we have cooking this March via our mailing list as well as on Instagram! @lelabarker and @luckybreakconsulting

 

2019 March Calendar

 

How to Sell on Faire

How to sell on faire

If you want to know how to sell on Faire, then you’ve come to the right place! This blog is part of an ongoing, deeply researched series about selling on Faire (formerly Indigo Fair). The first post, What is Faire?, detailed how Faire works, how much Faire charges, and what kinds of products Faire sells.

 

HOW TO SELL ON FAIRE

 

 

How to sell on Faire

 

In this installment of the series, I’m unpacking some of the nuances of the platform. Because Indigo Fair/ Faire is a rapidly evolving marketplace, it’s important to recognize that this data is accurate as of the time of publication. The Faire executive team is pioneering in spirit and ambitious in scope, so their efforts are an ever-changing experiment. It’s akin to building the runway as you fly the plane, but that’s to be expected when you’re- quite literally- trying to “reinvent wholesale.”

 

Getting started with Faire is deliciously straightforward. Whenever I speak to artisans within the Lucky Break community, the onboarding process is something that earns rave reviews. Co-founder Max Rhodes has often boasted about how easy it is to use Faire.

 

“Makers can apply to join Indigo Fair, and once accepted, they just send us their product catalogue to get their profile up and running. Most makers receive an order within a week, and they get paid as soon as they ship the goods.”

 

HOW ARE ORDERS RECEIVED THROUGH FAIRE?

 

Buyers shop through the Faire interface from a seamlessly curated selection of products that are chosen for them based on an algorithm that considers numerous factors. While only the Faire executives and the software development team fully understand the mechanics of the algorithm, we do have some clues about how the system works. The aesthetics of the shop and the frequency with which any particular brand is ordered factor into which products are displayed for any specific buyer.

 

Faire dispatches an email notification to the brand once a buyer places an order. Brand owners then log into the system to discover several options at their fingertips, including:

  • Accepting the order and selecting a ship date.
  • Editing the item availability to backorder an item.
  • Canceling the order.

 

Payment for orders is settled upon shipment. Because buyers often enjoy trade credit (commonly known as “net terms”) via Faire, brand owners can pay an additional 3% fee for immediate payment. If they choose to agree to net 30 terms to settle the invoice, then they can forego the additional 3% fee. In all instances, Faire guarantees payment even if the buyer defaults on their obligation.

 

HOW DOES SHIPPING WORK ON FAIRE?

Shopkeepers often enjoy free shipping on Faire, and I can confirm that there’s almost nothing that they cherish more than zero shipping fees. But who pays for that?

  • When you notify Faire that an order has shipped, you attach the tracking number for the parcel and notate the shipping cost. This has been the process since Faire’s launch.
  • Faire reimburses for the shipping fees alongside the settlement for the merchandise, according to the schedule you’ve selected. (Immediate payment for an additional 3% or settling the invoice in 30 days for no additional fee)
  • Faire passes the shipping charges on to the buyer unless the shopkeeper is taking advantage of a free shipping special. In that case, Faire absorbs the cost of shipping.
  • In February 2019, Faire rolled out an optional, automated process for printing shipping labels within the program.  This eliminates the need to manually input shipping costs and tracking numbers.  Swing by the Faire FAQ to read more about Faire’s new shipping program.

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Things That Keep Us Up At Night (Part 3): The Battle Between Business and Creative Tasks + Small Business Finances

BusinessAndCreative

Each year, I invite my clients to participate in the Lucky Break client survey. I ask you all sorts of things: about your business, small business finances, where you turn for advice, how confident you feel in various aspects of your business, and what’s keeping you awake at night.

 

Several hundred people rose to the occasion this year (thank you!) and I’ve been sharing some of the most common responses. I sifted through hundreds of survey answers to discover that the vast majority of replies fell under one of five main umbrellas. In part one of this blog series, I talked about entrepreneur anxiety and the deep-seated fears of failure that many of us harbor. In part two, I dug deep into the daily entrepreneur overwhelm and our difficulty connecting with ideal customers.

 

Small Business Finances | Balancing Creative and Business Tasks

 

But those aren’t the only things rumbling across our brain waves at 1am. We have a few other things that lay heavy on our minds… the information that appears as bulleted items below represents verbatim responses from the Lucky Break community. In the final installment of this blog series, I’m talking about the worries around small business finances and the constant battle between the left + ride sides of our brains.

 

THE CONSTANT BATTLE BETWEEN OUR BUSINESS + CREATIVE TO DO LISTS

  • Keeping on top of the minutia of running a business while also focusing on the tree top-level creativity and visioning of being a CEO.
  • Balancing production work and creativity.
  • Finding a way to step away from production so that I can grow the business side of things, and design more.
  • Wondering how to pull myself into a more hands-off role as designer so I can do more of what I truly love, which has nothing to do with my business.

 

I think it’s fair to say that 95% of my clients are more drawn to the “creative” side of their business. Things like new product development, production, and packaging design light them up.  But the bookkeeping, taxes, marketing, HR side of the business? Most don’t feel even the tiniest spark of inspiration when servicing those aspects of their company.  Sound familiar?  But the creative brands that have staying power pay as much (if not more) attention to the “business” side of the business. Those that don’t either struggle silently for years- working more than they ever imagined for far less profit than they imagined- or they close up shop in years 2-4 after giving the business a good romp.

 

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The less “sexy” side of the business? The one you’re less excited by and less comfortable with? That’s the area where we need to throw most of our muscle. That’s what self-development is all about… challenging yourself. Getting to the root of what makes you uncomfortable. Learning new skill sets. Reframing your perspective. That’s not just some self-help “woo woo”… that’s the heart of entrepreneurship.

 

By year four of my product-based brand, I had transitioned out of all day-to-day tasks: production, scheduling, material ordering, bookkeeping, customer service. My very first hire was a very part-time assistant to package products. My second? A full-time production manager who I taught to make all of our products.  My third? A full-time office manager to answer emails, man the phone, and package shipments while I focused on new product development, marketing, wholesale outreach, and cultivating key relationships.

 

By year six, I had eight employees, including a wholesale account specialist, production assistants, a shipping helper, and someone who worked full-time washing dishes, mopping floors, breaking down boxes, and checking in incoming materials. I started that company as a single mom on food stamps with less a $500 investment. And by year four, we were grinding out more than a million in revenue.  But I knew early on that I’d never get there if I was primarily focused on product creation. No way, no how. Getting yourself out of the daily grind is a must! Eventually, the role I assumed was creative director with some strategic vision thrown in for good measure… it was everything that I’d wanted, but it took a hell of a lot of hustle to get there.

 

My advice? Outsource first, delegate second, hire third. You have three solid options when it comes to nudging things off your plate…

1. Explore the possibility of hiring service-based businesses who are experts in their field. Think: attorneys to register and police your intellectual property. Graphic designers to create your packaging and marketing materials. Professional photographers to help your up-level your product presentation. Bookkeepers to keep your finances in order.  True experts are mind-blowingly efficient and you have no ongoing commitment to these pros.

 

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