The Burn for You team is making headway on our project!  Here is a quick update on our plan for the next few weeks.

 

We were very fortunate to have had the opportunity to meet with Amy Hansen, an entrepreneur based in Powdersville, and we received constructive feedback to apply in our business concept.  We greatly appreciated her insight and experience on how to market our products appropriately to our desired customer base and how to make the most of the limited amount of time we have with this project.  Her reaction was very positive, and we took this occasion to get advice on how we should proceed.  One of her recommendations was to move forward with one product--the memory boxes--instead of the three products we had been previously offering.  Mrs. Hansen stated that we would have more success if we focus our efforts on one product appealing to our desired demographic of 40+-year-olds.  

 

The team did an exceptional job of pivoting our business model, compromising big decisions.  We increased our selling price to $250 and modified our website and Etsy store to best market our primary product.  The reason for raising the price for our custom wood memory box is in conjunction with our belief that our target customers will pay more for a high-quality gift for a loved one.  The difficulty of shifting our business model has affected our ability to manage our time effectively.  With a few weeks remaining in the spring semester, we will heavily rely on advertising through Facebook Marketplace and promote our Etsy page to market and sell our product.  This time will be critical for reaching our goal of selling three memory boxes for a total of $750 in sales and a profit of $600.