You’ve fallen in love with Paparazzi Accessories. You’ve decided to take the plunge and become an independent consultant. You’ve seen the posts in the Facebook groups, you’ve seen the pictures of huge displays and now you are wondering how, exactly, to build your inventory and turn your starter kit into your dreams. Here are 10 tips to get you started:
1. You really do get an incredible value with the starter kits. If you can afford the middle or large kits, then take advantage of the savings and start there. The middle and the large kits both come with enough inventory to do a party or two before you will need to reorder.
2. Reinvest. Reinvest. Reinvest. Your upline may tell you, “The more you have, the more you will sell.” This is not a trick or a ploy to get you to buy more (increasing her commission) – this is truth. Women love to have options! If you have a larger inventory there will be more choices available and every customer you meet will be bound to find something they love. Once you have your starter kit and your first sales under your belt, it is essential to reinvest your money into more inventory. It might be hard to hear but I do recommend reinvesting 100% of your sales back into jewelry until you have your desired amount.
3. Define your desired amount. How much jewelry is too much? Is there such a thing? If you identify how large you want your inventory to be you can easily calculate how much of your sales you will need to reinvest. Once you have “enough” then you can begin keeping the profit for yourself and only replacing the items you sell. If you are doing home parties and events I strongly recommend having at least 500 items in your inventory (the majority should be necklaces). If you are mostly doing online sales, you will not need such a large amount on hand. When selecting the number of accessories you would like to have on hand, there are other things to consider as well. How will you organize your jewelry? Do you have a space to store the inventory that is out of the extreme heat/cold? Will it be easily accessible to you?
4. Take advantage of the Paparazzi promotions. Several times a year, Paparazzi will offer FREE pieces or double hostess rewards or a party pack with qualifying orders. This is FREE inventory. This is 100% profit in your pocket! Do not miss these opportunities! Not only is it a great way to build your inventory but it also provides diversity. Paparazzi chooses these FREE items so it will help you get out of an ordering rut (because we all tend to buy the items that we personally like).
5. Participate in team contests and challenges. Team Magnificent, Team Shimmer and Sparkle, and Team Hotsy Totsy all have frequent contests designed to help you step out of your comfort zone and grow your Paparazzi business. These challenges often come with prizes, including jewelry! Use this to your advantage. If you happen to win a contest and you have a choice for a prize – choose the free jewelry which you can turn around and sell (or wear it yourself as part of your “marketing” budget 🙂 ).
6. Attend convention and Empower Me Pink. No one throws a party quite like Paparazzi. The founders love their consultants and take the mission statement seriously! They love to surprise us and give us amazing perks. Attending convention and other trainings will benefit your spirit but you will also have the chance to win/earn free jewelry. Again, this is a great way to build your inventory and to have options that you might not normally choose for yourself.
7. Reinvest. Reinvest. Reinvest. Oh, did I mention that already? Here’s the thing. When you are on the Facebook groups or other social media, it is easy to get distracted/overwhelmed/jealous of other consultants with their huge, fancy displays. Don’t. You are on your own journey. One of the best things you can do for your business is to have choices and options in your inventory. Use items you already have at home to build your displays. Go on a scavenger hunt at thrift stores and garage sales to find other display items. Save your money on those items so you can increase your inventory. Once your inventory is where you want it to be and you have solid, regular parties and sales then you can “upgrade” your displays and other business supplies.
8. Utilize the return policy. When you receive an order from Paparazzi you have 3 business days to look through your items. If something is missing or damaged you can call the corporate office and request a return. If you are in the 3-day time frame please take advantage of this policy. Paparazzi will credit you for both the item and the postage you pay to ship it back to corporate. I’ve heard so many consultants say it’s just too much of a pain to do this. No it is not. The corporate office has some of the best customer service I have ever encountered. They will walk you through the process painlessly. In my time as a consultant I have only had to return a handful of items but every penny counts when you are trying to grow your business. Don’t shrug this off – take responsibility for the condition of your inventory and utilize the return policy.
9. Maximize your hostess rewards. When you place an order from Paparazzi you will receive a FREE item for every 10 items you purchase (does not include marketing/display/starlet shimmer). In your shopping cart this will show up as PV (personal volume). One item is worth 2 PV so you want your PV to be a multiple of 20. For example, if I have 9 items in my cart (18PV) I will receive NO hostess rewards. I will pay for 9 items and receive 9 items. If, however, I purchase 10 items (20 PV) then I will receive 1 hostess reward with my order. I paid for 10 items but got 11 items with my order. Maximize these hostess rewards and you will have a diverse and growing inventory in no time.
10. Identify the “expensive-looking” accessories. People are amazed that Paparazzi accessories are just $5. It’s a great deal! Generally, the more expensive an item looks the better it will sell. The blockbuster section is a great example of this. The accessories in the blockbuster category are timeless, statement pieces that could easily be sold for way more than $5. Maintain a steady selection of these bold accessories as they will reach a broad audience. As you sell out of these items you can reinvest to further diversify your inventory.
A Paparazzi business is FUN! Building your inventory to a manageable and profitable level can take time but it is not something to stress about. You are on your own journey so focus on YOUR business, YOUR customers, and YOUR goals. Once your inventory is at your desired amount you can enjoy your hard-earned profits. 🙂
If you have more questions about building your inventory or how to get started with Paparazzi, don’t hesitate to contact me. I’d love to help you.