Capstone Update # 3

1. Made bracelet

: Made beaded bracelets and rings using the way I learned from videos and took a video
of myself making it.
Video: https://youtube.com/shorts/pQR9p2wC0ck?feature=share

2. I learned about pricing, how to use excel and made my budget using excel
(calculating the price for each material and calculating the price for each
bracelet)
- Email between me and my mentor
 - Following my mentor’s advice, I made my own budget

3. Sold bracelets (marketing)

- I created a survey asking people about the price that might make them buy the
product and advertised my products.

- I sold some bracelets to people through Instagram and gave them to people in
person. Once I post the products on Instagram, they asked me the price. Once
they find the bracelets with satisfying prices, I brought those bracelets for them to
try and people purchased things that are fit for them.
 4. I learned about discounts and pricing from my mentor

Conversation with a mentor about pricing and discount

Question to Mentor about pricing

 Feelings behind
- It was hard to come up with a reasonable price. Adding on the minimum price to
cover the costs for materials, I need to come up with the price of my labouring
cost. However, if I choose it high, it was evident that the customers would not buy
the products. In addition, even though many people answered to buy the
products in the survey, not many people asked to buy once the products are
projected. Once it became such a small business without many customers, it was
even more difficult to care about the financial struggles of selling and pricing the
products; since to sell products, people would prefer cheaper prices but then I
cannot cover the costs spent on buying materials.

What next?

- I will keep working on making more jewelry and start to find out ways to sell
them.