بزنس العطور والمكياج - نايس ون | بودكاست سوالف بزنس

إذاعة ثمانية・2 minutes read

Abdul Rahman Al-Olayan's journey into e-commerce, focusing on product selection, marketing with celebrities, and challenges faced, led to significant profits and strategic partnerships, emphasizing the importance of specialization, hard work, and collaboration for business success. The episode also highlighted the evolving e-commerce landscape, market challenges like saturation and pricing competition, and the need for adaptability to stay updated on market trends and customer preferences.

Insights

  • Abdul Rahman Al-Olayan's successful e-commerce journey began with selling American hair products at competitive prices, transitioning to creating proprietary products and engaging with celebrities for marketing. His strategic approach involved partnering with his brother for delivery and leveraging Instagram for online presence, leading to significant profits and establishing a strong online store focused on beauty products.
  • The evolving e-commerce landscape poses challenges like market saturation, pricing competition, and changing consumer preferences. Abdul Rahman's business faced hurdles during the pandemic but overcame them by staying updated on market trends, emphasizing customer satisfaction, and building a competent team for effective operations, showcasing the importance of adaptability, profitability, and strategic growth in competitive markets.

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Recent questions

  • How did Abdul Rahman Al-Olayan start his e-commerce journey?

    Abdul Rahman began on Instagram in 2013.

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Summary

00:00

"Abdul Rahman's E-Commerce Success Story"

  • The perfume discussed in the text is praised for lasting four days on the skin.
  • The longevity of the perfume is attributed to its high alcohol concentration.
  • Abdul Rahman Al-Olayan, the founder of Nice Store 1, is introduced as a guest, with the store being a prominent makeup and perfume retailer generating 500 million riyals annually.
  • Abdul Rahman's journey into e-commerce began in 2013 on Instagram while he was a student in America, eventually expanding to serve Gulf countries.
  • The episode covers various aspects of Abdul Rahman's e-commerce experience, including product selection, creating proprietary products, marketing with celebrities, customer interactions, and challenges faced.
  • Abdul Rahman's initial success in e-commerce stemmed from selling hair products sourced from America at competitive prices.
  • He transitioned to creating his own brand and engaging with celebrities for marketing, leading to significant profits.
  • Abdul Rahman's strategic approach involved partnering with his brother for product delivery and establishing a strong online presence through Instagram.
  • The text highlights the challenges faced in the evolving e-commerce landscape, including market saturation, pricing competition, and changing consumer preferences.
  • Abdul Rahman's journey culminated in the establishment of a successful online store, with a focus on beauty products and a strategic partnership with a Jordanian programmer for technical support.

17:25

"Mastering Makeup: Strategic Business Growth Tips"

  • Specialize in one area of expertise to excel in it.
  • A buyer of clothes and goods, spending 200,000 on shoes at Bab Al-Balad Market.
  • Focus on makeup specialty to avoid distractions.
  • Understanding the details of makeup materials and decorative aspects.
  • Carefully manage funds and investments to ensure growth.
  • Utilize merchant's money for business growth and cash flow management.
  • Building relationships with wholesale merchants for better deals and trust.
  • Cash delivery and payment terms negotiation with shipping companies.
  • Strategic growth through investments and partnerships.
  • Expansion into new markets and team development for business growth.

33:49

"Thriving business expands with strategic investments"

  • A second investor offered three times the original investment value to the company.
  • An increase in capital led to new partners and a significant business expansion.
  • The company diversified from perfume and makeup to electronics, glasses, and chargers.
  • The business model focused on selling high-quality products with reasonable profit margins.
  • The owner emphasized customer satisfaction and offered refunds if needed.
  • The business strategy involved comparing prices with competitors and ensuring fair deals.
  • The company faced challenges with importing masks during the pandemic but managed to overcome them.
  • The owner stressed the importance of having a competent team to handle business operations effectively.
  • The market dynamics shifted, requiring adaptability and quick decision-making.
  • The business thrived by staying updated on market trends, celebrity endorsements, and customer preferences.

49:46

Navigating Competitive Markets for Business Success

  • The market is challenging with big players, making it difficult for new sectors to emerge.
  • The speaker advises against entering crowded markets, citing examples like delivery applications.
  • The speaker recalls a time before major market players like Amazon, Noon, and others existed.
  • Emphasizes the importance of profitability in business, especially in competitive markets.
  • Working with strong agencies and knowledgeable individuals is crucial for success.
  • Manufacturing essential products can lead to success, even using the same factories as famous brands.
  • Managing cash flow is essential for business sustainability and growth.
  • Digital marketing is a significant investment, with budgets divided between digital, celebrity endorsements, and sponsorships.
  • Combining different marketing strategies like digital, celebrity endorsements, and street advertising can yield better results.
  • Building trust with influencers and celebrities is crucial for successful partnerships and marketing campaigns.

01:05:29

"Business Success Through Accountability and Specialization"

  • The authority works with a reliable license and holds the company accountable.
  • Contracts are signed by both parties, and licenses and taxes are checked.
  • The marketing team is managed by department managers, ensuring accountability.
  • Customer service department addresses delivery and shipping problems promptly.
  • Internal customer service system swiftly handles product issues.
  • Customer data is analyzed to understand preferences and improve services.
  • Sales have exceeded 500 million in one year, with plans for online expansion.
  • Marketing and promotion are crucial for business success.
  • Relationships with celebrities impact business growth.
  • Specialization in perfume supplements is a point of pride and success.

01:22:32

Makari's Expansion Plans in Saudi Arabia

  • Makari is considering increasing spending every year, particularly on grandchildren.
  • The market in Saudi Arabia is significant, with 85% of the Gulf market and 40% of the Riyadh market being neglected.
  • Plans for expansion include establishing a second warehouse in Saudi Arabia.
  • The focus is on becoming a major player in makeup and perfume for Eid.
  • The perfume industry is diverse, with a variety of scents and concentrations.
  • Efforts are being made to produce 50 thousand perfumes, emphasizing quality over quantity.
  • The company is investing in technology to streamline order processing without human intervention.
  • Sponsorship of sports clubs, like Al-Taawoun and youth cooperation, is part of the marketing strategy.
  • The business is diversifying into male grooming products and exploring new markets.
  • The founder emphasizes the importance of hard work, perseverance, and seeking advice for success in business.

01:38:32

"Partnering for Success: The Power of Collaboration"

  • Emphasizes the importance of having a partner in business, highlighting the benefits of collaboration and mutual support, advising against working alone for better financial and emotional stability.
  • Mentions the significance of having a designated manager in a partnership, stressing the need for clear roles and responsibilities to ensure effective decision-making and implementation.
  • Acknowledges the team behind the production of the episode, crediting individuals involved in photography, lighting, creative and artistic direction, sound engineering, editing, and executive production, showcasing the collaborative effort in creating content for Eighta Publishing and Distribution Company.
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