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Time | Topic | Notes |
| 5m20s | Class begins | |
| 9m30s | Setting expectations about VAPE U | This course is about the business of developing or growing a business. It does not teach the mechanics of e-liquid production. |
| 12m0s | Who are you? | This program can be used as a roadmap for your current or future business model. |
| 14m10s | Why are you here? | What is your reason or motivation for being in this industry? This course? |
| 16m05s | Session number one is about you | Identifying and tapping into your strengths and weaknesses; the difference between a business plan and a business model; your comfort zone as an entrepreneur. |
| 17m30s | The Reality of Failure | You only fail if you quit |
| 18m15s | Be true to yourself | Self-analysis goes a long way towards developing and growing a business |
| 19m40s | How 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. |
| 21m40s | Time for a personal assessment | What 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? |
| 24m05s | Write down your top three personal strengths and weaknesses. | (worksheet supplied) |
| 25m10s | The difference between a talent and a skill | One you are born with and one you learn and master |
| 26m00s | What 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. |
| 28m05s | What are the biggest challenges that e-liquid companies face? | Distribution. How do you get your products to market amongst thousands of competitors? |
| 29m20s | Write down your top three business strengths and weaknesses | (worksheet supplied) |
| 30m20s | The Four Levels of Competence | We all start somewhere and there is a learning curve you cannot avoid. |
| 33m00s | Do your SWOT analysis | Strengths, Weaknesses, Opportunities, Threats |
| 33m25s | What is an opportunity? | It can be something you learned from personal experience or your background or from outside opportunities. |
| 35m10s | What is an opportunity? (II) | A current sales channels or strong social media following are good; access to capital and overseas relationships are all advantages. |
| 36m35s | What is a threat? | All other manufacturers are threats, as are regulations from all levels. |
| 39m30s | The difference between a business plan and a different model | A business plan may be overkill, but is a great exercise to help you dissect your business |
| 40m40s | Business Modeling | Identifying: your market/ vision/ customers/ competitive advantage and marketing plan |
| 41m15s | Watch the trends | Who is vaping and why? Name your product properly and monitor the trending nic levels and flavor choices. Pay attention to public perception and reporting. |
| 43m00s | What stores are selling | NATO report shows brick and mortar stores most often develop their own line and sell name brands. |
| 45m05s | Top selling flavors | Fruits, deserts and sweets are the top choices. |
| 46m00s | What is your vision? | How will you develop your niche? Find strategic partners to help you succeed. |
| 47m20s | Who is your market? | Who are they and what appeals to them? What turns them off? Are there names that offend? |
| 48m45s | What 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. |
| 50m30s | Who is your biggest competitors? | Online stores are #1, followed by competing shops. |
| 51m25s | What 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. |
| 53m05s | Action Items | Identify your strengthsIdentify your market Complete the forms and templates |
| 55m10s | Join our Facebook page! Participate in our MasterMind classes. | Contact us for information |
| Questions & Answers | ||
| 59m00s | What brands are the most successful? | Space Jam, Five Pawns, Cuttwood are tops |
| 1h05m15s | How do we know what flavors sell best in different areas? | The market tells us the answer. Do your own research. |
| 1h06m25s | Is 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. |
| 1h11m55s | How 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. |
| 1h14m20s | How 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. |
| 1h20m30s | I 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. |
| 1h25m55s | How 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. |
| 1h30m40s | How 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. |
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Jesse is the Digital Marketing Director at VapeMentors and Chief Technology Mentor. He is an ecommerce and internet marketing expert with a background in business and technology.