“Stay self-funded as long as possible” – Garrett Camp, founder of StumbleUpon. Everyone has heard the stories of overnight successes; those overnight millionaires who got an idea that ended up transforming their lives. But what really needs to go into having a successful product-based business? The truth is: it takes blood, sweat and tears. It also requires lessons learned from experts—businesses or individuals—who have already achieved excellence. One such exemplary example is Dollar Shave Club (DSC).
How Dollar Shave Club Became A Successful Product-Based Startup
So what did they do differently? To start out, the Dollar Shave Club had a rock solid business model based on their subscription razor service: buying bulk goods from other companies at wholesale prices and then selling them for a profit, as stated by feedough.com. Taking full advantage of the problem men faced when purchasing razors, namely extremely steep prices as well as poor quality blades – DSC positioned themselves as saviors by offering cheaper alternatives along with higher quality products that lasted longer. It was simple yet effective. This approach to marketing struck all the right chords within their target audience who recognized great value and came at an unbeatable deal right away leading first year sales between $30-$50 million (a much smaller figure compared to Gillette’s $2 billion). Fast forward four years post its launch in 2016 and Dollar Shave Club was acquired by Unilever for a stellar $1 billion, considering that 54% of the US online shaving market falls under DSC’s belt while Gillett only accounted for 21%. Success still doesn’t stop here since today Dollar Shaves offers dozens of various men’s personal care products.
Smooth Operations: The Role of Conveyor Systems in Improving Product Sales
When it comes to getting products from A to B quickly and efficiently, there’s no substitute for conveyor systems. It’s been highlighted that conveyor systems can increase throughput significantly by automating repetitive tasks without ever sacrificing quality or speed. This is absolutely crucial when running a startup based on product sales – no one wants slow delivery times or poor customer service experiences. Conveyor systems are not only limited to delivering goods but are also used with integrated metal detection systems providing security, which is necessary in many industries such as food and beverages, pharmaceuticals or personal care, where added safety measures are essential before anything reaches the shelves and customers alike. These types of detections will identify any hidden contaminants instantly that may otherwise go undetected – now that’s something worth investing some hard earned cash into, right?
It’s easy to see why Dollar Shave Club is the go-to tale for those who dream of landing a successful product based startup: with the right business model, well-defined target audience and catchy but effective marketing everything can be set in motion – starting from humble beginnings all the way up to become an industry titan. Conveyor systems are also a great tool that can provide serious growth solutions for digital startups looking to get their foot into the door of online retail success stories. The cost savings they generate should matter to all entrepreneurs starting out so don’t let these lifesavers become overlooked during research processes.
