Blogshop [blog-shop] n avenue of online shopping that operates through blog services like BlogSpot and LiveJournal.
In 2009, I started a blogshop and operated it for two years—this was a lesson of a lifetime.
It all began when my friend and I wanted to sell some second-hand music albums on the internet, as record shops were offering just a measly $2 for an album that was worth up to $15. Immediately, we went ahead and set up a blogshop. While selling the albums, we saw that selling accessories were really popular. We wanted to jump on the bandwagon besides we had already sold most of our albums. Just like others, we contacted some fellow blogshops which sold rings,necklaces and watches to provide us with the supplies.
Then problems came. We did have some sales, but the supplies we ordered came to us really slowly, because the items actually went through several hands before they reached us and our customers. We finally had enough when our suppliers stopped giving us the items we ordered, although we had already paid them.Worst of all, one of these suppliers did not refund us and ignored our various attempts to contact her.
To solve this problem, my friend and I chose different options. She decided to take a break, while I decided to carry on. I figured that the root cause of this problem was that the goods we once sold went through too many middlemen,which was not reliable and also expensive. I decided to become a supplier to other blogshops, my immediate customers do not need to wait, my sales would be much better and I would also earn a lot more.
I took a risk and decided to get my supplies directly from real suppliers in China. I did my research on these suppliers and got in touch with a relative in China to check the reliability of this supplier too. As all went well, I decided to take orders from them. Back at home, I used the bit of money left from my previous sales to invest in advertisement for my blogshop, because I really needed a large consumer base to generate profits. I was so worried that I was not able to hit my sales target that my heart would take a leap every time I opened my blogshop’s email to check for orders.
I was elated when my first order came. The countless batches of orders afterwards were just as satisfying. My blogshop now became the official supplier for stylish watches in the nation’s circle of blogshops.
Operating my blogshop was nothing like the theories I learnt in Economics. It was all about following intuition and keeping up with the online shopping fads, such as the way I price my goods. Furthermore my knowledge gained through Mathematical Olympiad (MO) training and as a MO medalist may not be as helpful as accounting and bookkeeping. This unique experience provides me a good foundation for my later endeavors, from being a finalist of HCI-GlaxoSmithKline Entrepreneurship Challenge to raising thousands with my team through Citibank-YMCA Youth For Causes for The Association for the Deaf.