Lessons learned from the launch of work during the definitions

Irene Ham, 30, had just poured $ 62250 of savings in stock for her new Korean beauty brand when President Donald Trump was Definitions on the day of liberation April 2 was announced.

The shipment was requested, but it has not yet arrived. She said her heart sank when she heard the news.

“When I hit the customs tariff, it was clear that it was this emotional news for me,” which was recently launched cosmetics After working for it for two years, tell Business Insider.

Ham said that she had requested the minimum South Korean factory to be allowed – and even paid its financial borders. Then came the news of the baseline tariff by 10 % and a 25 % “mutual” tariff, which it said would make it impossible to move forward in its work. Ham was facing the possibility of more than 21,000 dollars at additional expenses for the stock of inventory from South Korea. Moreover, its product packaging was obtained from China, which was to be affected by a 54 % tariff rate.

Because it pushed habits before the definitions into force, to avoid an important to be forced to push customs duties on the shipment of South Korea. However, she said that the continuous uncertainty in the customs tariff led to setbacks.

I decided to stop the launch of a new facial cleaner line because of the “unexpected costs”, although it had already finished the formula, agreed to it, and completed the design of the packaging with the manufacturer.

Ham said that she was said to have chosen “the worst time” to start a business. In addition to the definitions, the possibility that the Tiktok ban on the horizon is a threat to its marketing efforts because it built the application on the application by documenting its entrepreneurial project.

Despite the challenges, Impras said that after reading the definitions and learning it can be used as a negotiating tactic, I realized that the situation was not everything.

“I think if you start a business when it’s easy, everything was in my interest, I don’t think I will face flexibility to make it continue,” Ham said. “So, a part of me is actually a little grateful because this is the worst time to start.”

Axis art

Hama said that at the beginning she was panicked about the newly announced tariff prices. But she then realized that she would not necessarily have to raise their prices by 25 % in general. The cost of manufacturing its institution will end in the price raising the price of $ 3 or 4 dollars per bottle.

“Therefore, adding to the price rather than making it a significant increase in an astronomical number, adding that it was more manageable.

Import also realized that she could live without obtaining packaging materials such as boxes and logo stickers from China, so she started looking for suppliers residing in the United States such as ULINE and Sticker MULE, which did not increase their prices.

Although this means that its products do not seem guaranteed or specially designed as it is originally planned, she said that the sacrifices are required if you do not want customers to pay more.

There was even an advantage of making the key. Ham said that the time of transformation is faster, and there are no major arrangement requirements.

Get more confident in negotiation

As a result of navigation in the impact of customs tariffs, Ham Bi told that it has gained more confidence in negotiating with manufacturers, especially on the minimum amount of demand.

Hama said that some factories require 5,000 to 10,000 units per shadow for each product, which leads to a high amount of demand and the total price.

Hama said: “In future requests, I plan to negotiate this to a number he feels fair to me and the manufacturer.”

The next time you negotiate a new matter, you will be able to test their theory – that manufacturers can be more understanding and open to negotiation, given the changes in the United States.

Maintaining costs

After she initially thought that she had to pay thousands of additional dollars after spending her savings on the first batch of inventory, she said that she learned to reduce expenditures where she was able.

“She said, adding that she is looking for ways to keep healthy products so that she can “absorb future balls.”

For example, Hama said she should pay for her Shopify account every month if she wants to get a prior application. She decided that she did not want these expenses to rise.

Now, whenever you feel the temptation to spend more on allocated packages or other additions, she asks themselves whether it will lead to more sales or if it is just a “vanity scale”.

She said this mentality helps her make more cost -effective decisions.