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5m20sClass begins
9m30sSetting expectations about VAPE UThis course is about the business of developing or growing a business. It does not teach the mechanics of e-liquid production.
12m0sWho are you?This program can be used as a roadmap for your current or future business model.
14m10sWhy are you here?What is your reason or motivation for being in this industry? This course?
16m05sSession number one is about youIdentifying and tapping into your strengths and weaknesses; the difference between a business plan and a business model; your comfort zone as an entrepreneur.
17m30sThe Reality of FailureYou only fail if you quit
18m15sBe true to yourselfSelf-analysis goes a long way towards developing and growing a business
19m40sHow important is “education” in the vape space?College offers little, but people and relationship skills are vital. Money does not solve all problems in business.
21m40sTime for a personal assessmentWhat are your strengths? Your weaknesses? Are you good with numbers or have a sensitive palate for flavors? Do you have creative skills with cooking or have a background in chemistry?
24m05sWrite down your top three personal strengths and weaknesses.(worksheet supplied)
25m10sThe difference between a talent and a skillOne you are born with and one you learn and master
26m00sWhat skills are valuable in the e-liquid business?A manufacturing background is an asset, as is sales. Vape technical aspects are valuable, along with leadership skills.
28m05sWhat are the biggest challenges that e-liquid companies face?Distribution. How do you get your products to market amongst thousands of competitors?
29m20sWrite down your top three business strengths and weaknesses(worksheet supplied)
30m20sThe Four Levels of CompetenceWe all start somewhere and there is a learning curve you cannot avoid.
33m00sDo your SWOT analysisStrengths, Weaknesses, Opportunities, Threats
33m25sWhat is an opportunity?It can be something you learned from personal experience or your background or from outside opportunities.
35m10sWhat is an opportunity? (II)A current sales channels or strong social media following are good; access to capital and overseas relationships are all advantages.
36m35sWhat is a threat?All other manufacturers are threats, as are regulations from all levels.
39m30sThe difference between a business plan and a different modelA business plan may be overkill, but is a great exercise to help you dissect your business
40m40sBusiness ModelingIdentifying: your market/ vision/ customers/ competitive advantage and marketing plan
41m15sWatch the trendsWho is vaping and why? Name your product properly and monitor the trending nic levels and flavor choices. Pay attention to public perception and reporting.
43m00sWhat stores are sellingNATO report shows brick and mortar stores most often develop their own line and sell name brands.
45m05sTop selling flavorsFruits, deserts and sweets are the top choices.
46m00sWhat is your vision?How will you develop your niche? Find strategic partners to help you succeed.
47m20sWho is your market?Who are they and what appeals to them? What turns them off? Are there names that offend?
48m45sWhat is your competitive advantage?Can you compete with the “Big Boys?” How? How are you different? Better? Don’t be a low price leader: you are not Wal-mart.
50m30sWho is your biggest competitors?Online stores are #1, followed by competing shops.
51m25sWhat is your marketing plan?Define your company, web site, logo and brand. More flavors are not always better. This will be covered more thoroughly in lesson #3.
53m05sAction ItemsIdentify your strengthsIdentify your market

Complete the forms and templates

55m10sJoin our Facebook page! Participate in our MasterMind classes.Contact us for information
Questions & Answers
59m00sWhat brands are the most successful?Space Jam, Five Pawns, Cuttwood are tops
1h05m15sHow do we know what flavors sell best in different areas?The market tells us the answer. Do your own research.
1h06m25sIs it best to create your own brand or private label someone else’s?It is usually best to use someone else’s proven formulas before you launch your own.
1h11m55sHow do you come up with a good name for an e-liquid?Survey. Offer at least five choices and your name should rank #1 or #2 4 out of 5 times.
1h14m20sHow do you protect your formulas from being copied by your private contractors?With a legal contract, non-disclosures and confidentiality agreements. Use your gut and instinct.
1h20m30sI have 40 flavors and want to know how to weed them out?Do it on your own or engage your customers and have them choose. Have a contest! Create the “Top Dozen Flavors” contest. Involve your business neighbors and offer incentives for votes.
1h25m55sHow important is packaging to your e-liquids?It is very important. The quality of your packaging can make a difference. Your brand, your package and your logo must not be taken lightly.
1h30m40sHow much does it cost to launch an e-liquid line?The price is less than it used to be, but you can do a great job for $10,000.