In this episode, SBM ITB Talks will discuss what a marketplace is, how it works, and what are the advantages and disadvantages of selling in the marketplace compared to selling in the online shop itself, including experiences and tips from an MBA ITB Alumni, Rima Mega as the owner of Your Socks which has succeeded in achieving high sales figures through e-commerce. So, here’s some:
Ever want to give up, but Rima believes that marketplace is the key
Rima started her business in Instagram, but she then realized another potential in the marketplace. Just like a mall, marketplace attracts more people and thus, she gets more engagement and more demand. Rima realized that focusing more to the marketplace will lead her to more risk, as there will be many more competitor. She also realizes that with only one bad review, her store can sink down from the list. But the good review and the larger demand made her stay.
Do it NOW
Many of us think too much and are afraid of future loss than just try to do it. Rima Mega experienced this too, she believes that she should’ve done and try to overcome her fear of loss sooner. To make up to her first mistake, Rima surely adds her store to the marketplace to expand her business. It ends up to not regret, she even got to expand more of her market which leads to more demand with the decision she made.
Business is an easy thing if you put your mind on it
Sometimes, we try to figure out what is unique or what is not in the market yet, but it is not actually the answer, said Rima Mega. Yes, many succeeded for the innovation they made, a bread with boba or matcha, or a drink mixed with Nutella, you mention it. But do you ever realize that much more succeeded for a product that we can see on our daily life, just like what Rima has done to her success, socks? The key is to put your focus on it and do it the best that you can.
The journey Rima Mega has gone through wasn’t all easy, there is also bad times with bad reviews, but it is not a reason to give up. Why? Check it out on SBM ITB Talks Episode 37.