Friday, May 24, 2019
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Crep Plug – 1 Year of Crep Credibility

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crep plug

This week, Crep Plug celebrates their first year in the trainers and streetwear space. Crep Plug is UK-based footwear community which aims to bring buyers and sellers of trainers together and make the process of crep-copping easier. The business acts as an online marketplace to connect buyers and sellers, but also includes regular reviews of different trainers. These reviews help readers to gauge the look, feel and affordability before deciding whether they should buy.

crep plug
@CrepPlug – Twitter

With so many people using the internet to make purchases today, the role of the conventional retailer is slowly dying as we’ve recently seen with Toys R Us. This is making online marketplaces like Crep Plug evermore popular, especially with the increasing use of social media. The use of YouTube for product adverts/reviews and Instagram for live streams takes buying products beyond the basic transactional experience. Customers today buy into the experience, and that’s what Crep Plug brings to the crep culture!

Click here for more information on Crep Plug

The 3 Issues With Having a Business Plan

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having a business plan

Rigidity

A business plan, especially an in-depth one, can lead to a lack of flexibility as you are trying to “stick to the plan”. The most durable businesses are always able to adapt quickly to an ever-changing environment ahead of their competition.

Tip for the young entrepreneur: Don’t be too strict on how you’re going to get from A to B. Things can change quickly and your business needs to be flexible enough to adapt.

Time

Writing a business plan takes time and require you to research your business, the product/service and the industry. You may need to gather some data and analyse it to support your plan. It may also require other people e.g. surveys to help you complete your market research. Since your time as an entrepreneur is so valuable, you don’t want to spend it gathering information that may not even be accurate (as many business plans are). This is not to say you should avoid all forms of planning, just try to be as resourceful and time-efficient as you can, especially in the present day of the information age (where we can gather information quickly).

Tip for the young entrepreneur: Aim to find shortcuts to information. You can use online databases like Morningstar to gather data or use social media sites where you can study the market via hashtags without even leaving your house.

Over-confidence

A business plan can make you feel more knowledgeable and prepared for business than you really are. Over confidence is a major hazard for anyone entering an uncertain environment (the business world). Be ready (mentally) for potential setbacks and anything “that wasn’t part of the plan” to keep yourself balanced during your rollercoaster ride as a business-person. If you’re over-confident (because your business plan made you that way), you’re susceptible to being scarred early and permanently when setbacks occur.

Tip for the young entrepreneur: Aim to stay balanced mentally. Don’t be over-confident, but don’t be over-cautious.

 

BkChat Go Fund Me Campaign

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bkchat

The hit talk show BkChat LDN has recently announced its Go Fund me campaign to help support more content for its audience. BkChat LDN is known for delivering engaging discussions around some very relevant topics for today’s generation such as love, race and money. The show’s creator Andy Amadi recently tweeted (below) about the campaign encouraging fans of the show to donate to help them produce more episodes.

BkChat
@Andy_Amadi – Twitter

The young entrepreneur and creative has successfully delivered 3 seasons of the show, (with 3 reunions) and also released a New York edition in 2017. Any independent creator/businessperson understands the challenges of raising funds to support their work. It’s encouraging for BkChat to have so much popularity and a large audience, which is definitely going to help push the campaign.

If you’re interested in supporting the BkChat Go Fund me campaign, click here