-The GMA Experience - Qualification - Part 1 of 3
When I was contacted by Tory Johnson to see if I would be interested having my business featured on Good Morning America I have to admit it felt a little surreal.
First, she had a very particular set of questions to make sure that my business was of the necessary caliber and could handle the expected demand that would be created from the promotion.
You see, GMA doesn't just feature anyone, they want to make sure if they are going to promote you, you better be able to deliver to their viewers.
One of the first requirements was that I had to offer at least a 50% discount off of my retail prices since this was a promotion themed segment. Ouch.
Since most of my businesses are direct to customer I'm never thrilled to give away that much of a discount but I had to look at the opportunity as a whole and really analyze it. I always urge my members to look at things subjectively and really think through their decisions.
Even though being invited to be featured on GMA was flattering, I had to crunch some numbers and look at the logistics before moving forward. My business, Luxury Monograms, is manufactured at the same facility that also produces all of the custom apparel for one of my other businesses that I started in college. Because of this, I knew that I had staff and machinery that I could use to handle to additional demand that could be created.
I worked with Tory to select 5 of my best products that I knew had the most available profit built in and that would allow for consistent and high quantity sourcing of the necessary materials.
My profit margin was dramatically decreased, but because of the expected high volume generated by the sale, it made sense to accept the terms.
I got the final okay from GMA and started to process the fact that my business was going to be on Good Morning America. I called my parents to tell them the exciting news!
It was one of those crazy moments as an entrepreneur, where you can't quite believe the scale and opportunities that have been created by all of your hard work. SO WORTH IT!