How To Start A Business Of Selling Handmade Lace Lingerie

Abstract

This paper presents a review of the literature that focuses on the drawbacks of starting one’s business. The information that was collected was compared to the actual experience of the author who is currently starting the business of selling handmade lace lingerie. As for the methodological part, it was decided that the most reliable sources will be consulted in order to see whether the picture that the scholars have develops correlates with the actual experience of the author. There were three major aspects which were explored: setting up a payment system, the influence of manufacturing and costs on the price of the product, and the difference between hobby and business. A separate section was devoted to the examination of the role that sexual identities have when shaping buying behaviour of lingerie. It was found that in the majority of the cases the information obtained from the scholars reflects the reality. However, there also were some differences that the author identified which can be explained by the personal position of the author. As for the role of sexual identities, it is argued that a proper understanding of them results in the development of the objective perception of lingerie industry and allows an entrepreneur to develop one’s business successfully.

Table of contents

1. Introduction……………………………………………………………………………………………………. 4

2. Methodology………………………………………………………………………………………………….. 5

2.1. Philosophical stance…………………………………………………………………………… 5

2.2. Deductive nature of the research………………………………………………………….. 6

2.3. Research strategies……………………………………………………………………………… 8

2.4. Ontology of the research……………………………………………………………………… 9

2.5. Longitudinal study……………………………………………………………………………… 9

2.6. Axiology of the research……………………………………………………………………… 10

3. Literature review…………………………………………………………………………………………….. 11

3.1. Setting up payment method…………………………………………………………………. 11

3.1.1. Primary considerations………………………………………………………….. 12

3.1.2. PayPal service………………………………………………………………………. 12

3.1.2.1. Advantages of PayPal………………………………………………. 13

3.1.2.2. Disadvantages of PayPal………………………………………….. 15

3.2. Manufacturing and pricing………………………………………………………………….. 15

3.2.1. Materials……………………………………………………………………………… 16

3.2.2. Tools…………………………………………………………………………………… 16

3.2.3. Working hours……………………………………………………………………… 17

3.2.4. Design hours………………………………………………………………………… 18

3.2.5. Recovery of costs…………………………………………………………………. 19

3.2.6. Pricing strategy…………………………………………………………………….. 20

3.3. Hobby versus business………………………………………………………………………… 20

3.3.1. The role of profit…………………………………………………………………… 21

3.3.2. Investment……………………………………………………………………………. 21

3.3.3. Changing work/life balance……………………………………………………. 22

3.3.4. Changing the perspective……………………………………………………….. 23

3.3.5. The importance of minimization……………………………………………… 23

3.3.6. Continuous process……………………………………………………………….. 24

4. Sexual identities and lingerie……………………………………………………………………………. 25

4.1. The spectrum of sexual identities…………………………………………………………. 25

4.2. Sexual identities and age…………………………………………………………………….. 26

4.3. Why do women buy lace lingerie?……………………………………………………….. 27

4.4 Managing business and creativity………………………………………………………….. 27

4.5. Female reality versus male fantasy……………………………………………………….. 28

4.6. Discrimination and its impact on female identities…………………………………. 29

5. Results…………………………………………………………………………………………………………… 30

6. Discussion……………………………………………………………………………………………………… 31

7. Conclusion……………………………………………………………………………………………………… 32

References…………………………………………………………………………………………………………. 35

1. Introduction

If one takes a close look at the business environment today, one will be able to see that it is dramatically different from its counterpart from the past. Thus, many companies abandoned the approach that urged them to maximise the profit at any cost and are willing to implement models that were developed by the scholars in order to improve their performance. As a result, business has become much more relying on scientific evidence and is largely driven by the consumers as well as the desire of the companies to appeal to the target audience. Another point that should be mentioned with this regard is that it has become much easier to start a business these days.  While in many cases entrepreneurship today is still associated with significant risks, large loans, and numerous bureaucratic procedures, people all over the world find it easier to start a business on a small scale. The Internet, as well as other technological advancements, have enabled them to do so. This eventually blurred the line between hobby and business. The scholars approached this issue and found out that today a considerable number of people believe that they are able to turn their passion into a full-time job. Nevertheless, it is universally agreed that passions are not the only prerequisite for the success: a whole new approach to this activity is needed. So, the transition from hobby to business should be carefully examined in order to highlight the peculiarities of the two. Furthermore, one should also keep in mind that some significant aspects of the social environment, particularly the perception of sexual identities have changed dramatically which is reflected in the behaviour of the people,  including what they are looking for when they shop. This research will provide a comprehensive literature review and contrast the evidence found in books with the personal experience of the author regarding starting a business, the relationship between hobby and business as well as reflection on the role of sexual identities when it comes to lingerie.

In order to support this thesis, the research will be structured in the following manner. First of all, it will provide a comprehensive outline of the methodology that guides this study. This section will reflect on the philosophical stance used, comment on the nature of research in general and strategies that will be executed; focus on ontology and axiology of the research at hand. The rest sections will provide a literature review of several major aspects regarding starting a new business. The findings will be checked against the actual experience of the author. The three major chapters will focus on benefits and risks of having a payment system, the fundamental principles of effective pricing strategy, and the difference between hobby and business. A separate section will be devoted to the exploration of sexual identities and how their perception influences the buying patterns of lingerie and the culture that is associated with it. The concluding section will summarise the findings of the research.

2. Methodology

2.1. Philosophical stance

To begin with, it may be useful to outline the philosophical stance of the researcher that will guide this study. It was decided that constructivism may be the best paradigm in this case. According to Sepkoski (2012), constructivism supports the idea that all knowledge that a person has is not obtained objectively, but is constructed to fit the experience and the cognitive ability of a researcher, hence the name. That is why the best way to represent the objective reality is to make sure that the knowledge is accumulated in the most unbiased way that would reflect the true nature of the phenomenon under investigations.

One of the obvious advantages of this approach lies in the fact that it allows a researcher to construct knowledge that would later be integrated into one’s cognitive framework and reinforce it (Roberts, 2011). In other words, it allows a person to do beyond a simple description of facts, situating the information about the world in a way that would explain it thoroughly.

However, this approach also has certain disadvantages. For example, sometimes it may be rather difficult to relate some general concepts to a specific case since there will be no particular connections (Boghossian, 2013). As a result, theory and practice will coexist in different dimensions and the first will not be useful to explain the second. Furthermore, given the subjective application of the theoretical principles, it is possible that one’s explanation will be dramatically different from the findings of other researchers.

2.2.  Deductive nature of the research

It is worth mentioning that the research at hand will feature deductive nature. According to this approach, the scholars who conduct it will first focus on the general information that is available about the topic (Clark & Johnson, 2006). In other words, the research will not focus on the topic right away, but will spend time collecting the available data about it, trying to develop a broad perspective on it.

After a sufficient amount of information has been collected, the researcher will approach the specific topic by narrowing down the level of abstraction. This means that based on the available general facts, the research will try to make some plausible assumptions about the particular case involved (Reyes, 2004). Therefore, the evidence that was collected about the phenomena will be analysed in order to see whether it can be useful to explain the situation at hand. It goes without saying that drawing a connection between the general facts and the specific situation may at times be rather difficult.

One should keep in mind that the deductive nature of research fits the topic perfectly. Thus, there is a plenty of information about starting a new business, the manner in which the products should be priced as well as the relationship between hobby and business. Moreover, there is a large array of information about the perception of sexual identities in the contemporary social environment and how it influences buying behaviour. So, all this can be related to the situation in question.

Speaking of the advantages that a deductive research has, one should mention the following ones. First of all, it may be one of the most reliable ways to approach a phenomenon since it relies on the general information that is often verified (Ng & Coakes, 2014). Another point that should be mentioned with this regard is that deduction can enable a person to make insightful speculations about the nature of research, often highlighting those elements that might have been overlooked by other approaches.

As for the disadvantages that a deductive research can have, one may mention several as well. First of all, given the abundance of the information, it is possible that the initial approach will be too broad and the researcher will have a hard time connecting the information to the actual situation. Secondly, this kind of research can be quite slow since it may take a considerable amount of time to process the available information and relate it to the issues in question.

Nevertheless, given the advantages and the disadvantages of deductive research, it is worth mentioning that they are somewhat balanced; so, it is up to the researcher to decide whether this approach may be the most suitable (DiSanza & Legge, 2005). As it has already been pointed out, the nature of the situation under investigation shows that collecting the available information about the phenomenon, then relating it to the situation in question may be the more effective way to explore it.

2.3. Research strategies

In order to be successful, the research at hand will utilise the following strategies. First of all, it will focus on the exploration of the available evidence. This will include browsing archives, databases as well as any other source of reliable academic information about the topic in question (Bryman & Bell, 2015). This will be the first stage of the research that will put emphasis on reaching the sources of information and collecting the evidence.

The second element of the research strategy that should be highlighted focuses on the comparison of the information collected with the factual evidence at hand. Since the goal of the research is to understand the nature of the phenomenon, it is essential to make sure that the general information reflects the situation that it is applied to (Blumberg, Cooper, & Schindler, 2014). While the research is ready that the factual evidence may sometimes refute the information which was obtained from other sources, positive or negative result will be will useful.

Finally, it is essential to note that another research strategy will be used to determine the value of the information which was collected. Given the fact that the topic of starting a business as well as various risks that are associated with it is quite popular, it is essential to make sure that the sources that are used in the research are reliable and are not biased (Abou-Zeid, 2008). This will allow the researcher to make sure that all the information that is included is helpful.

2.4. Ontology of the research

If one considers the ontological nature of the research at hand, one will be able to see that it is qualitative and relies on mono-method. This means that the primary findings of the research can be used to evaluate the phenomenon and not describe it in numerical terms (Packer, 2011). In addition to that, it will also rely on one particular method of researching the phenomenon.

The reason why the qualitative nature of the research was chosen is quite simple: the phenomenon under investigation is rather difficult to present numerically. Obviously, there is a plenty of data regarding starting a new business that can be showed in a table or a graph, but it does not reflect the major aspect of investigation that is what makes a person want to start a business despite all the risks that are associated with it (Fischer, Laubscher, & Brooke, 2016). In addition to that, the qualitative approach is also useful to explain what encourages people to buy lingerie.

Furthermore, one should not forget about the fact that the approach in question allows the researcher to avoid many biases and make the investigation closely related to the topic in question. Thus, if the major focus was on the numerical data, they would most certainly represent a different business situation which means that some reservations should have been made. However, the qualitative nature will allow the researcher to approach the phenomenon directly without needing to make any approximation.

2.5. Longitudinal study

The research at has is a longitudinal study that is desk based. This shaped the approach of the researcher to the topic: the available evidence on was collected with the help of accessing several databases. Therefore, though the author is directly involved in the business that is under investigation, it is clear that a certain level of abstraction has maintained due to the fact that the findings were first obtained as a theoretical evidence and then compared with the factual evidence (Smith, 2004).

In addition to that, one should also note that in the course of the research, the author consulted several databases which makes the evidence that was collected cross-sectional. Indeed, one line of evidence was collected in order to highlight the business nature of the phenomenon. The other line primarily focused on the role that sexual identities played in the purchasing behaviour. This makes the research itself cross-sectional as well since it explores information that was taken from different areas.

One should keep in mind that this was done deliberately in order to maintain objectivity on the acceptable level. As it has already been stated, there is a number of studies that have already been performed on the topic. As a result, it is quite possible that there will be several points of view on various issues. In order to maintain objectivity, the research involves studies that were conducted by different people so that no single position of preferred other the other.

2.6. Axiology of the research

Finally, it may be useful to approach yet another important element of the methodology of the research in question – axiology. Some might suggest that ethical elements are not particularly applicable to this particular research because there was no interaction with other people. While indeed, it is true that there were no participants who had to give their consent for participation in it, there was interaction with the ideas of other people. With this regard, the importance of ethics will manifest in the avoidance of plagiarism as well as proper crediting of the authors.

In addition to that, one should also note that given the nature of the research, one should note that it will store a considerable amount of important information about the business under investigation. Therefore, it is essential to make sure that this information is protected and is not delivered to the parties that can potentially harm it (Brøgger & Eikeland, 2009). In other words, there are also some important ethical concerns about storing the information involved.

Finally, the important point to note is that the role of ethics should not be undermined in this research due to the fact that it touches some important aspects of business and sexuality. Therefore, the author is expected to carry out the research as well as present one’s findings on the sexuality in a manner that would be useful to the public and will not hurt anyone (Hodgkinson, 2006).

3. Literature review

3.1. Setting up payment method

The first aspect that should be carefully examined is the payment method. According to Hatton (2015), business is closely connected to exchange of money; that is why finding the right payment method is particularly useful for the business. What is even more important is that this will shape the development of the latter in the long run since different payment methods have various limitations. Therefore, this may be one of the most important points to be considered right after the business was established.

3.1.1. Primary considerations

One would make no mistake arguing that there are several important elements to be taken into account. First of all, the payment method in question should be easy for the customer (Pollan & Levine, 2010). In other words, it is essential to make sure that the customer does not feel any obstacles or experiences any difficulties while making a purchase. This is particularly true in the case of the business in question since the customers should be ready to pay easily as soon as they seen the product that they like.

On the other hand, the payment method that is to be chosen also has to be easy and reliable for the business. After all, it is the entrepreneur who is exposed to more risks; that is why it is in his or her interest to chose wisely (Montgomery, 2010). The author has considered all the risks that were involved and was trying to choose a way that would be beneficial for the customer and for the business. So, this speculation is supported by the factual evidence.

3.1.2. PayPal service

There is a lot of scholars that argue that PayPal may be the best solution for those who would like to start their own business. For example, Boyd (2008) insists that it is the system that has all the functions that an entrepreneur may want and, therefore, should be one’s natural solution. It is worth mentioning that the evidence shows that the author decided to choose PayPal as the major payment system for the business.

According to Kamoroff (2013), the number of business that uses this system is incredible. Indeed, almost every website that provides the visitors with the opportunity to buy something online will have an option that will allow people to use the money on their PayPal account to make a purchase. The author has seen numerous examples of this and this has influenced the decision to choose this particular service.

Furthermore, it is largely suggested that transactions online represent the future of business. That is why choosing PayPal it an important strategic decision that will contribute to the modern image of the company (Small, 2011). The author considered this idea and agreed that it would be quite beneficial for the business to incorporate this system in order to make sure that the potential audience sees the company as a modern and an innovative one. In other words, other than providing a solution to payment issues, it also contributed to the formation of a proper image.

3.1.2.1. Advantages of PayPal

It is rather obvious that if it had not been for numerous advantages the payment service in question would not have become so successful. What is even more important is that all these advantages are applicable to the situation in question. Thus, according to Miller (2012), PayPay is the only widely-known payment system that is largely seen as the industry standard. The author fully agrees with it and admits that this particular consideration had an important influence on choosing this service.

In addition to that, PayPal also provides the users with an incredible level of security of operations (Stim, 2008). It is quite obvious that the company whose major service is online transactions is expected to invest a lot into their security. The author fully relies on the protection of the data that is provided by the company in question. Moreover, the author had not heard any stories that would show that PayPal in not a reliable service.

The next important advantage to be considered is flexibility. According to Rust (2011), PayPal is an all-in-one service which can be adapted to any kind of business. The author acknowledges that this company was able to provide all the functions and support that was necessary to start a business. That is why there was no need to look for a different company. The flexibility of the function is easily recognised.

Furthermore, some researchers also point out that PayPal was able to take the aspect of physical money from the transactions and this resulted in several positive changes. First of all, it allowed people from different locations to order the product (Walsh, 2006). Secondly, it eliminated the need to look for change or perform any other additional transactions associated with physical money. The author acknowledges that this is a wonderful advantage that has removed numerous obstacles on the way of development of the business. Furthermore, it also laid the foundation for future expansion.

The impact that the use of PayPal has on the image of the company has already been mentioned. Jackson (2006) believes that for many companies that operate online having an option to order via PayPal is an irreplaceable element of business. It is so important that not having this option will have a considerable negative impact on the organisation. The author admits the validity of these considerations and made a conscious decision to include PayPal is one of the payment options in order to make sure that the clients perceive the website as a modern one.

Finally, yet another important advantage that should be mentioned in particular is the user-friendliness of the operations involved. Sinclair (2007) insists that when it comes to managing one’s financial flows, the ease with which it can be accomplished plays an important role. The author approves of the fact that many of the options can be checked via smartphone which is a device that the author uses quite a lot.

3.1.2.2. Disadvantages of PayPal

In spite of the fact that the scholars tend to be quite positive about the service in question, many also note that there is a number of disadvantages that are associated with this particular service. For example, Jones and Barta (2012) point out that PayPal inevitable becomes an intermediary that cannot be avoided. As a result, the commission that the system takes for its operations should be included in the price which makes it higher. The author agrees with the fact that this has a mostly negative impact on the business.

Another point that should be mentioned is that though the security problems may have been taken care of, there is a number of other problems which may have a negative impact on the experience of using PayPal. Thus, Morris (2012) notes that if one forgets the password and the answer to the security question, it may be rather difficult to claim the account. Though the author takes certain precautions against it, this is still a possibility that should be considered.

Furthermore, there are some strategic considerations that should be taken into account. For example, Alexander (2012) believes that it is not particularly wisely to fully rely on PayPal as the major platform for financial transactions and storage of money. If something happens to it, the damage to the business will be extraordinary (Byers, 2014). The author fully agrees with this approach and envisions that a certain amount of money will have to be stored in a different place in order to minimise the chance of accidents.

There are some problems that are associated with daily operations. For example, it takes a certain amount of time to withdraw the funds (Balderas, 2011). Therefore, if the author wants to withdraw the money, this could take several working days which will result in the delay that can last over a week  (Parker, Alstyne, & Choudary, 2016). While this is not a great disadvantage, it still reminds that the money that is stored online is not easily accessible.

There are some other aspects that should be considered carefully as well. For example, if PayPay is made the only option and the customer does not have a sufficient amount of money on one’s account to complete a transaction, then a person will not be able to buy the product at all (Brown, 2010). It is worth developing a realistic view on the situation since not every person uses online money and some do not have PayPal accounts (Norris, 2010). So, by relying on the system, the business will limits its customer base to the users of this system. Nevertheless, the author does not see this as a terrible disadvantage.

Finally, one should consider all the possible troubles that are associated with using the system in the long fun. For example, Livingston (2008) notes that by focusing on the services that are provided by PayPal, an entrepreneur becomes dependent on the decisions of this company. The author agrees with this point of view, but does not believe that the decisions of PayPal will be able to have a negative impact on the development of the business.

3.2. Manufacturing and pricing

The next important element of setting up a business that should be explored carefully focuses on the importance of manufacturing and pricing. After all, in the end, an entrepreneur will have to make a decision about the price of the product and it will have a considerable impact on whether the target audience will be attracted to it (Taylor & Prestoungrange, 2010). the author recognises the importance of this step and tries to approach it objectively.

3.2.1. Materials

To begin with, it may be important to reflect on the very basic matters. Smith (2012) points out that the cost of the materials used is often the major factors that influence the price. In other words, the product cannot cost less than the materials that it is made of cost. The author fully agrees with that point of view and acknowledges the fact that the cost of material is currently the major factor that determines the price.

All this leads to an important point to consider: an entrepreneur may look for a cheaper material in order to make the price less expensive (Gould, 2004). This may be a perfect solution for those segments where the target audience is particularly sensitive to the price. The author considered this option and rejected it because in the long run, this would do more harm to the business than good. Clearly, there is a wide range of lingerie that is sold at low prices; so there is not need to compete in that field. As a result, it was decided that the material that will be used will be of a medium quality which will be reflected in the price.

3.2.2. Tools

The scholars also note that tools, as well as procedures involved in the manufacturing, are important factors that determine the price as well. For example, Henry, et al. (2006) suggests that since the acquisition of tool requires original investment, it should be reflected in the price to make sure that their cost is covered. The author did invest the tools that would be used to make lingerie, but their cost has already been covered by other incomes which means that it will not have a tremendous impact on the price of the product.

Amortisation is yet another important issue to be considered. Reid and Bojanic (2001) insist that when it comes to economies of scale, amortisation does not play an important role since the profit margin is able to take care of it, but smaller business has to consider it carefully. The author acknowledges that as the tools are used more and more they will be slowing damaged. So, in the future acquisition of new tools, possibly more durable will be needed.

Furthermore, the literature also explores the relationship between the available tools and the opportunities that an entrepreneur has. Nordhielm (2006) insists that it is useful to invest in the tool in order to expand the range of the products that are provided. In the case of the author, the new tool will result in new variations of lace and will make the products more aesthetically pleasing.

3.2.3. Working hours

It would be a mistake to suggest that when it comes to setting up a business and becoming an entrepreneur, one should stop considering the importance of working hours. According to Peter and Donnelly (2006), even if a single person is employed then one should not dismiss the idea of the working hours, let along the working day. The author finds it somewhat difficult to embrace, but fully agrees that this concept is applicable to the situation in question.

When it comes to understanding the nature of working hours in entrepreneurial activity, one should approach this topic by contrasting the hours that a person spends working and resting. Farris (2011) notes that sometimes it may be difficult to differentiate the two if the entrepreneur is the only person involved in business, but still there are some activities that contribute to the development of business and those that do not. The author accepts this distinction and notes that after the business has been established, it is quite difficult to find time for something else.

All this brings to yet another important concept that should be mentioned – time management. Hubbard and O’Brien (2006) note that the latter plays an important role for an entrepreneur because the latter have to manage the balance between work and life when there are not specific guidelines. The author fully agrees with this perspective, noting that proper time management skills result in great performance.

3.2.4. Design hours

Many businesses that require creativity also have another aspect to be considered. It is connected to the development of the product (Boone & Kurtz, 2005). In the case of the business that was established by the author, it is crucial to differentiate between working hours (when the lingerie is actually made) and design hours (when the new models are developed). The key point here is that both these activities take up time and, therefore, labour. So, the price of the product should reflect it.

What is even more important is that these two activities are mutually exclusive. Christopher and McDonald (2003) note that in large companies the actual manufacturing process and research and development are performed by two different departments at the same time. As a result, the company does not lose productivity when it develops something. In the case of the business which was set by the author, this becomes a problem since design hours are incompatible with working hours. This may result in a certain financial burden and increase the price.

Finally, all this leads to an important consideration: how can the hours spend on designing be measured in terms of money? Engelson (2005) believe that it is virtually impossible to develop an objective way to measure the former in this manner. Therefore, it is up to the entrepreneur to decide the increase in the cost. Since the author wants to appeal to the customers, the design hours will be values moderately which will not increase the overall price to a large extent.

3.2.5. Recovery of costs

It has already been mentioned that recovery of costs is particularly important for business. However, it may be useful to focus on some significant aspect of it in order to gain a proper understanding of the issue. Thus, Hamilton (2013) notes that recovery of costs is an irreplaceable element of profitability of any entrepreneurship. The author fully agrees with it since otherwise doing business has not point.

Nevertheless, recovery of costs itself cannot be seen as the ultimate goal of the enterprise. According to Baye and Prince (2014), an entrepreneur hopes that that profits will be reasonable. The author understands this concept in the following way: if the costs are recovered, but the learning is minimal, then there is no need to start a business as better results can be achieved if the author took up a minimum wage job. Therefore, the size of the profit margin is particularly important.

Furthermore, one should not forget about some general aspects of profitability. Some scholars note that the return on investment and earnings are able to provide the entrepreneur with an objective evaluation of the current endeavour  (Kay, 2006). In other words, successes or failures can help determine whether the enterprise is worth being developed. The author acknowledges that in the short-run, there might be some problem with profitability and it is acceptable to suffer from some losses as long as there is a high chance that all this will be recovered in the medium range (Rhoads, 2014).

3.2.6. Pricing strategy

After all, elements that shape the price have been outlined and evaluated, it may be useful to identify the pricing strategy that will be the best for the business. Given the nature of the industry, it is quite obvious that there is no need to try competing with established retailers in terms of price (Ebert & Griffin, 2005). As a result, the author agrees that penetration strategy may not be the best choice in this particular case.

On the other hand, one should also dismiss the idea of premium pricing. Sultan (2005) notes that an entrepreneur has to have an outstanding brand recognition to utilise this strategy or feature great quality of the product. The author admits that the business that has just been established by her does feature neither first nor second. That is why charging more that needed will not be an option even given the exclusive nature of the product (Dwyer & Tanner, 2006).

All this leads to the understanding that the best pricing strategy, in this case, would be shaped by the medium range of the competition (Navarro, 2006). In other words, the price will be largely determined by the prices of other companies that offer similar products, but it will be slightly reduced to reflect the nature of the business (Robert & Racine, 2001). In this case, the product will not be perceived as low cost, but will be seen as yet another option that the customers may choose from.

3.3. Hobby versus business

It is worth pointing out that making lace lingerie is the hobby of the author that she hopes to turn into the business. However, it may be particularly important to examine the differences between the two in order to monitor whether this transition occurred.

3.3.1. The role of profit

According to the majority of the scholars, the major difference between hobby and business lies in the fact that the latter generates profit and the former does not (Summers & Boulay, 2005). While it may happen so that a person will be rewarded for the products of one hobby, the key difference lies in the fact that the profit that is generated by the business is regular (Crouch, 2004). In other words, the work of a person will be intended for sale. That is exactly what the author wants to achieve: it is hoped that she will be able to sell lingerie; so, the focus will be shifted from learning to make it to selling it.

Another important aspect that is often mentioned in the literature is that an entrepreneur often counts on the profit because business becomes predictable (Gaudens & Jackson, 2004). This means that over time, business starts generating money on a regular basis while a hobby can generate profits occasionally. Once again, the author fully agrees with this distinction and hopes that in the future this activity will bring money and become a stable source of income.

3.3.2. Investment

It is quite obvious that the notion of investment is more closely connected to business than it is connected to the hobby. Williams (2005) insists that while both require various efforts, people rare see what they do for the hobby as their investment. For example, in the first case buying tool means that a person wants to try something new while in the second case it is an investment in production. The author was able to develop this new perspective on the activities and treat efforts as investments.

One should keep in mind that investment does not necessarily have to be made in the form of money. Schmidt (2012) notes that a lot of enterprises require time to be developed. Many tend to overlook the value of time, but it is exactly what can determine whether a hobby will develop into a business. The author agrees with these ideas and acknowledges that she is ready to invest her time in order to bring hobby to completely new level.

Finally, there is another important difference that should be mentioned about the nature of investment in hobby and business – the scope. It often happens so that when it reaches a certain point, people tend to stop pursuing a hobby, believing that it is too costly, but this is impossible with business (Hughes, 2014). Therefore, the latter implies that the scope of investment will be quite big and the entrepreneur should not be afraid of that. The author embraces this point of view and is willing to invest a lot of time and money into it.

3.3.3. Changing work/life balance

The next important difference between hobby and business that is mentioned in the available literature focuses on the change that work/life balance will experience. According to Stim and Guerin (2005), business will occupy a bigger part of the time and the entrepreneur should be ready to handle this increase. The author acknowledges the need to spend as much time as possible for the business which means that this change will not be surprising.

What is even more important is that business is often associated with certain predictability. Pullen (2015) insists that though the working day of an entrepreneur is not similar to other professions, it is still required that a person will spend a least six or seven hours a day to develop one’s enterprise. So, it is not that different from a regular job. The author understands the necessity of this and will be doing her best to devote a sufficient amount of time to the business.

As a result, this will most certainly disrupt the usual routine of a person. According to Applegate (2002), in a certain amount a time, a person who wants to be a successful entrepreneur accustoms to this new work/life balance and is able to shape one’s day around the development of the business. The author admits that this may have a certain negative impact on various social activities, but this sacrifice is justified by the benefits that it can bring.

3.3.4. Changing the perspective

When it comes to analysing the transition from a hobby to a business, one can hardly omit discussion of the perspective. Mohr (2005) notes that business is designed to sell products and provide services to the people which means that it is their perspective that becomes dominant. In other words, an entrepreneur can hardly become successful if one pursuit own goals and desired, disregarding the views and tastes of other people. The author understands the importance of it and agrees to develop a new perspective on the product that would match views of others.

All this, in its turn, results in the development of a product range that is often designed to suit tastes of different people. Fishman (2015) points out that one of the reasons why companies tend to have a wide range of products is because they want to appeal to different people. The author agrees with the validity of this point of view and is ready to develop products that will be designed to fit the tastes of other people.

Another important point that is often omitted is the role of trends in buying behaviour. Teutul and Yost (2009) notes that the public tends to be fascinated with different things all the time; so, the patterns of consumption are subject to change. This means that an entrepreneur cannot ignore this changes, but should try to adapt to them in a certain way. The author is well aware of the trends that exist in the lingerie industry and is ready to follow and anticipate them.

3.3.5. The importance of minimization

A more profound comparison of hobby and business will reveal that the latter often favours different kinds of minimization. For example, Davis (2007) notes that minimization of costs is something that is quite common for entrepreneurs. While this issue may not be important for economies of scale, many new enterprises are looking for effective ways to cut the costs. While the author acknowledges the importance of it, it has already been established that for the time being the minimization of the cost will not be performed in order to maintain a sufficient amount of quality.

The same can be applied to the concept of waste management. Green and Merrill (2005) suppose that successful enterprises try to improve the entire cycle of production which often results in minimization of the material that is wasted during the production. At the moment, the author is at a loss how to reduce waste during the production. So, this aspect will be overlooked for the time being.

Minimization of cost and waste often leads to the general improvement of production. As a result, Halliday (2005) notes that many enterprises try to improve their effectiveness in order to become successful. This becomes an important goal that they methodically accomplish (Goodridge, 2006). The author admits that there may be ways to improve the efficiency of production, but given the current conditions, it would not be wise to pay attention to such small details.

3.3.6. Continuous process

Finally, one of the major differences between hobby and business lies in the fact that the latter can flourish only if it is constantly developed. Kersten (2003) points out that it often takes several years for an enterprise to become truly successful which means that an entrepreneur should devote a significant amount of time and effort while there is not a good return. The author sees the validity of this point and it ready to accomplish them.

This also outlines the different nature of the two activities. If the hobby is abandoned by a person, the skills that one learned will remain with that person and may be developed later. However, Wray (2009) points out that a pause in the development in the early stages of business can result in terrible consequences. That is why it is highly advisable that the development of business in not interrupted by anything (Goldschmiedt, 2003). The author is ready to devote several years to bringing hobby to the level of business.

Furthermore, one should consider the difference in the outcomes of the two activities. Weaver (2005) note that the positive outcomes of business grow exponentially over time. Therefore, an entrepreneur will enjoy a bigger return in the distant future while a person who took up a hobby will experience a decrease in the effectiveness of learning  (Belknap, 2010). The author acknowledges that there is an objective need to devote a considerable amount of time and agrees to wait for the positive outcomes to come.

4. Sexual identities and lingerie

Given the fact that the product in question is closely connected to sexuality, it may be useful to explore the concept of sexual identities and how they influence buying behaviour and perception of the product.

4.1. The spectrum of sexual identities

To begin with, it may be useful to point out that the very concept of predefined sexual identity may seem to be outdated. Thus, people are thought to position themselves on a wide spectrum of sexual identities. Some of them are more widely spread and have been traditionally accepted y the society (Blasius, 2001). A good example is a heterosexuality: it is considered to be a norm in the majority of the social environments all over the world. However, there is a large number of sexual identities that exist on this spectrum which is generally seen as unconventional. They represent a number of variations ranging from the fixation of autoeroticism to fixation on inanimate objects.

If one considers the target audience for the product that the author creates one might suggest that it is primarily oriented at heterosexual women. It is quite obvious that women who have other sexual identities may buy lace lingerie; moreover, it is possible that men will also buy lace lingerie as a gift or for any other purposes. Therefore, it would not be an exaggeration to suggest that though the use of the product is not limited to heterosexual individuals, they are most likely to be targeted by the product.

4.2. Sexual identities and age

It is worth pointing out that age is able to have a significant impact on the development of the perception of one’s sexual identity. According to Pierson and D’Antonio (2004), the peak of interest to sexuality correlates with young age when the topic of sex is considered to be inappropriate. This makes it even more interesting to explore. However, the primary focus is placed in the intercourse, but not some other aspects that are related to sexuality.

On the other hand, after this original peak goes down, a person gradually develops a new perspective on sexuality as well as everything that is related to it (Thompson, 2003). After the initial fascination has disappeared, a person can appreciate sexuality more and, therefore, adjust one’s sexual identity. For example, it is quite obvious that women are much more interested in buying aesthetically pleasing lingerie in their mid years if compared to their teen years. So, even though their sexual identity may not change, it will be manifested and reinforced in a different manner.

Given the nature of the product that is created and sold by the author, one might assume that it was designed to appeal to the taste of the women who are interested in lingerie. Matus (2005) points out that lace may be seen as an excessive element of this product since it does not expand the functionality, but only affects the aesthetics. So, it is the latter should be taken into account by the customer.

4.3. Why do women buy lace lingerie?

It may be particularly useful to explore the reasons why women buy lace lingerie in the first place. To begin with, it is worth pointing out that the interest towards this particular product may be shaped by personal preferences of a woman (Marsh, 2003). In other words, the latter believes that this kind of underwear is aesthetically pleasing and would like to wear it on a daily basis.

Another important reason to be taken into account is the use of lace lingerie as a way to express one’s sexuality. According to Talburt and Steinberg (2000), there is a generalised perception that lace lingerie is more pleasing to the eye than conventional lingerie. That is why women may make a conscious choice to use it when they would like to express their passionate sexuality. In spite of the fact that the correlation does not always exist, it is obvious that there are instances when this product is bought consciously to draw attention to one’s well-developed sexuality.

Finally, one should not forget about the fact that lingerie can be bought as a present. In spite of the fact that it is rare for a woman to give such a gift to another woman, it still can happen (Wood, 2005). Therefore, one can hardly every know for sure whether the product is bought to be worn or to be presented as a gift. This sheds light on the importance of lace lingerie and shows that it is generally seen as more valuable that conventional underwear.

4.4 Managing business and creativity

It is worth pointing out that selling lace lingerie has a significant aesthetic component. Hirsch (2015) notes that the perception of underwear, just like of any other article of clothing, is always defined by the balance between the functionality and the aesthetic appeal. However, unlike other clothes, whether functionality may be preferred overlooks, lingerie is generally seen as something that is chosen because of its looks since the demands for the functionality are quite limited.

This puts a certain pressure on the author because she knows that the minimum function of underwear is not something that the customers are looking for; therefore, the goal is to sell the look, not the function (Cole, 2012). This is where the creative side of the work is presented. In other words, making lace lingerie is an art since creating underwear has already been mastered by other organisations.

All this calls for the importance of transition between art-oriented outlook and business-oriented outlook. Henry (2004) notes that the best way in which an entrepreneur can combine this is to be guided by the principles that shape the perception of lingerie and create a product that would adhere to those ideas. Under these conditions it is important for a person to balance one’s artist’s personality and entrepreneur personality: the former will be in charge of the ideas and the latter will be in charge of their commercial realisation.

4.5. Female reality versus male fantasy

It may be particularly useful to explore another dimension of the topic which may be rather interesting: is lace lingerie a part of female reality or a manifestation of male fantasy. One should keep in mind that there is a number of women who wear lace lingerie on a daily basis and consider it to be a part of their routine wardrobe (Blonna & Carter, 2013). Therefore, to a certain extent, the hype around this article of clothing is artificially exaggerated.

All this can be explained by the fact that in most of the cases lace lingerie is featured in scenes that have a distinctly sexual nature. Given the fact that in the majority of the case the composition of these scenes reflected the so-called “male gaze”, then it becomes obvious that lace lingerie is much more likely to be featured in a male fantasy than an advertisement (Grossman, 2016). That is why many might fight it surprising to learn that there is professional fashion show that features lingerie.

Nevertheless, one should note that the proper understanding of how this product is really perceived by the audience probably lies somewhere in the middle. Henslin (2010) reports that wearing lace lingerie on a daily basis and considering it the pinnacle of female sexuality may represent the extremely of perception. The latter is likely to be developed by those who are not properly familiar with lingerie. Therefore, the position of the target audience for the product in question is between those two extremes.

4.6. Discrimination and its impact on female identities

It is worth mentioning that though the society has become much more tolerant in the recent years toward sexual identities that are not conventional, discrimination still exists. Ferris and Stein (2008) describe it as the reaction of the most conservative part of the society on the fact that new patterns of sexual behaviour have become widely accepted. That is why it is essential to keep in mind that discrimination should be seen as yet another important factor that may influence the buying behaviour.

It is quite understandable that the impact of this on female sexual identities can be positive and negative. Speaking of the former kind of influence, one should note that discrimination of certain sexual behaviour might encourage a woman carefully examine her own sexual identity and think about new ways of its expression. For example, in order to put emphasis on her heterosexuality and femininity, a woman might consider buying lace lingerie.

Nevertheless, there are some negative aspects of influence as well. For example, some women might feel that they are limited by the society. In other words, they will deliberately try to explore new aspects of sexuality in order to make sure that their heterosexuality corresponds with their true identity. As a result, they will spend time experimenting and may refrain from buying lace lingerie. That is why widely spread support of conventional values may have a negative impact on women.

5. Results

The review of the available literature on the topic of payment system revealed that the majority of the scholars agree that PayPay may be the best service that an entrepreneur can choose to start a business. This is supported by the fact that this particular system has now become an industry standard which means that not having it will have a negative impact on the development of business.

Having examined all the literature that is related to the pricing strategy, it becomes obvious that there are several key elements that should be recognised. They lay the foundation of the price and outline the minimum amount of money that should be charged in order to recover the costs that are associated with production. The important point to keep in mind is that there is no need to try to change the factors to reduce the price since that will not be beneficial in the long run.

The examination of the available literature regarding the differences between hobby and business revealed that these two activities have a different nature. As a result, if one wants to turn a hobby into a business, one should be ready to take the activity to a completely new level. This is manifested in various aspects of achieving profits, investing time and more, and so on.

As one can easily see, the literature exploring sexual identities is quite abundant. It is worth pointing out the selling lingerie may be seen as an activity that touches several important aspects of social life that may be overlooked at first glance. For example, one should note that while the concept of sexual identity may not be directly related to lace lingerie, there are still points where the two coincide. So, the perception of one is important for the perception of the other.

6. Discussion

The review of the available literature on the topic of payment system revealed that the majority of the scholars agree that PayPay may be the best service that an entrepreneur can choose to start a business. This is supported by the fact that this particular system has now become an industry standard which means that not having it will have a negative impact on the development of business.

Having examined all the literature that is related to the pricing strategy, it becomes obvious that there are several key elements that should be recognised. They lay the foundation of the price and outline the minimum amount of money that should be charged in order to recover the costs that are associated with production. The important point to keep in mind is that there is no need to try to change the factors to reduce the price since that will not be beneficial in the long run.

The examination of the available literature regarding the differences between hobby and business revealed that these two activities have a different nature. As a result, if one wants to turn a hobby into a business, one should be ready to take the activity to a completely new level. This is manifested in various aspects of achieving profits, investing time and more, and so on.

As one can easily see, the literature exploring sexual identities is quite abundant. It is worth pointing out the selling lingerie may be seen as an activity that touches several important aspects of social life that may be overlooked at first glance. For example, one should note that while the concept of sexual identity may not be directly related to lace lingerie, there are still points where the two coincide. So, the perception of one is important for the perception of the other.

7. Conclusion

Having examined all the evidence which was collected from the available literature on the topic, one might conclude that on average the scholars were able to identify the aspects of starting business correctly as it correlates with the experience that the author gained. However, there also were certain differences which can be explained by the early stage of development of business as well as the willingness of the author to make some sacrifices to achieve success in the future.

Speaking of one of the major risks that are associated with setting up business, namely setting up a payment system, one might suggest that the scholars generally agree on the fact that PayPal may be the best choice for an entrepreneur. This can be explained by a number of benefits that this system has such. What is even more important is that all these benefits are applicable to the business in question which means that the information found in the literately is correct and useful.

Nevertheless, the author notes that there were certain differences between the model which was explained in the literature as well as the actual experience. For example, some of the disadvantages that are widely explored in the available literature are not seen as particularly negative and can be dismissed by the author. That is why it was established that some scholars tend to paint the process of starting a business in the colours that are too dark.

The second aspect that was explored focused on the relationship between manufacturing and cost. It was suggested that there are certain objective factors that should be taken into account because they form the minimum cost of the product. That is why recovery of the costs that are associated with the material used, tools, and work should be considered. Otherwise, if the price that is set does not cover them, then the business is not likely to be successful since it does not generate profit.

Nevertheless, the latter notion should also be considered carefully. The literature suggests, and the author agrees with it, that the amount of profit should be reasonable. So, this means that if the business barely recovers the costs and generate a small amount of money, then the author should consider taking a minimum wage instead. That is why it was decided that competitive pricing strategy should be chosen as the best strategy for the business, at least for the time being. However, the author did not agree with a certain scholar on some minor topics, for example, the need to include design hours in the value of the product.

The third aspect which was explored in the literature review focused on the difference between hobby and business. The author agrees with the scholars who insist that the two activities may have certain similarities; however, both have completely different natures. That is why if a person wants to make a business out of one’s hobby, one should be ready to develop a completely different approach towards it.

The author expresses readiness to embrace this new perspective and take all the steps that are necessary to ensure the success of the business. However, there are some points where the author cannot agree with other scholars. A good example is a minimization: while it is quite obvious that the current process of making the product by the author can be improved, the latter believes that it should be changed in the future since there are more pressing issues that should be considered.

Finally, a separate section was devoted to the exploration of the concept of sexual identities. The literature points out that selling lace lingerie is quite different from selling other products since it involves many aspects that are closely connected to sexual identity. As a result, one should be able to develop a proper understanding of various forces that influence the perception of it. For example, it may be useful to balance extreme views on lingerie as an everyday item for women and as the peak manifestation of female sexuality.

Furthermore, it may be useful to acknowledge the impact that sexual identities discrimination can have on the buying patterns. It has been mentioned that the positive impact of it will manifest in the increased desire of women to express their sexuality with the help of lingerie because they will feel more confidence. Nevertheless, one should also point out that discrimination may have quite a different impact on women. For example, it may happen so that they will feel that they are controlled by the society to a certain extent and will try to explore some new aspects of their sexuality which will divert their attention from lingerie.

References

Abou-Zeid, E. (2008). Knowledge management and business strategies: theoretical frameworks and empirical research. Hershey: Information Science Reference.

Alexander, T. (2012). Get your business online now! Sydney: Hachette Australia.

Applegate, J. (2002). 201 great ideas for your small business. Princeton, NJ: Bloomberg Press.

Balderas, M. (2011). PayPal APIs: a Developer’s Guide. Sebastopol: O’Reilly Media, Inc.

Baye, M. R., & Prince, J. (2014). Managerial economics and business strategy. New York, NY: McGraw-Hill Irwin.

Belknap, C. (2010). The complete guide to beekeeping for fun & profit: everything you need to know explained simply. Ocala, FL: Atlantic Pub. Group.

Blasius, M. (2001). Sexual identities, queer politics. Princeton, NJ: Princeton Univ. Press.

Blonna, R., & Carter, L. C. (2013). Healthy sexuality. Dubuque, IA: Kendall Hunt.

Blumberg, B. F., Cooper, D. R., & Schindler, P. S. (2014). Business research methods. London: McGraw-Hill Education.

Boghossian, P. A. (2013). Fear of knowledge against relativism and constructivism. Oxford: Clarendon Press.

Boone, L. E., & Kurtz, D. L. (2005). Contemporary marketing. Mason, OH: Thomson South-Western.

Boyd, K. W. (2008). EBay business at your fingertips. New York, NY: Alpha Books.

Brown, B. C. (2010). How to build your own web site with little or no money: the complete guide for business and personal use. Ocala, FL: Atlantic Pub. Group.

Bryman, A., & Bell, E. (2015). Business research methods. Oxford: Oxford University Press.

Brøgger, B., & Eikeland, O. (2009). Turning to practice with action research. Frankfurt am Main: Peter Lang.

Byers, A. (2014). Reid Hoffman and Linkedin. New York, NY: Rosen Pub.

Christopher, M., & McDonald, M. (2003). Marketing: a complete guide. Basingstoke: Palgrave Macmillan.

Clark, M., & Johnson, P. (2006). Positivism: deductive research methodologies. London: SAGE.

Cole, M. (2012). Education, equality and human rights: issues of gender, ‘race’, sexuality, disability and social class. Abingdon: Routledge.

Crouch, H. F. (2004). Hobby business ventures. Saratoga, CA: Allyear Tax Guides.

Davis, C. (2007). Start your own photography business: studio, freelance, gallery, events. Irvine, CA: Entrepreneur Press.

DiSanza, J. R., & Legge, N. J. (2005). Business and professional communication: plans, processes, and performance. Boston, MA: Pearson/Allyn and Bacon.

Dwyer, F. R., & Tanner, J. F. (2006). Business marketing: connecting strategy, relationships, and learning. Boston, MA: McGraw-Hill.

Ebert, R. J., & Griffin, R. W. (2005). Business essentials. Upper Saddle River, NJ: Pearson Prentice Hall.

Engelson, M. (2005). Pricing strategy: an interdisciplinary approach. Portland, OR: Joint Management Strategy.

Farris, P. W. (2011). Marketing metrics: the definitive guide to measuring marketing performance. Upper Saddle River, NJ: FT Press.

Ferris, K., & Stein, J. (2008). The real world: an introduction to sociology. New York, NY: W.W. Norton.

Fischer, C. T., Laubscher, L., & Brooke, R. (2016). The qualitative vision for psychology: an invitation to a human science approach. Pittsburgh, PA: Duquesne University Press.

Fishman, S. (2015). Deduct it!: lower your small business taxes. Berkeley, CA: Nolo Law for All.

Friskopp, A., & Silverstein, S. (2005). Straight jobs, gay lives: gay and lesbian professionals, the Harvard Business School, and the American workplace. New York, NY: Scribner.

Gaudens, P. S., & Jackson, A. R. (2004). How to mend china and bric-a-brac as a hobby, as a business. London: Bailey & Swinfen.

Goldschmiedt, H. (2003). Practical formulas for hobby or profit. New York, NY: Chemical Pub. Co.

Goodridge, W. F. (2006). Turn your passion into profit: a step-by-step guide for turning ANY hobby, talent, or new product idea into a money-making venture! New York, NY: Passion Prophet Co.

Gould, J. P. (2004). Pricing strategy. Chicago, IL: University of Illinois.

Green, D., & Merrill, D. (2005). More than a hobby: how a $600 start-up became America’s home & craft superstore. Nashville, TN: Thomas Nelson .

Greener, I. (2011). Designing social research: a guide for the bewildered. Los Angeles, LA: SAGE.

Grossman, J. L. (2016). Nine to five: how gender, sex, and sexuality continue to define the American workplace. New York, NY: Cambridge University Press.

Halliday, J. (2005). Turn your hobby into a business. Welgemoed: Metz Press.

Hamilton, W. D. (2013). Pricing strategy: tactics & strategies for pricing with confidence. Hoboken, NJ: John Wiley & Sons.

Hatton, F. (2015). Starting a business. New York, NY: Cavendish Square.

Henry, A. (2004). What it takes: speak up, step up, move up: a modern woman’s guide to success in business. New York: St. Martin’s Press.

Henry, J. A., Mather, D., Coughlan, A. T., Lipczynski, J., Nagle, T. T., & Dwyer, J. (2006). Pricing and distribution. Auckland: Pearson Custom Publishing.

Henslin, J. M. (2010). Essentials of sociology: a down-to-earth approach. Boston, MA: Allyn & Bacon.

Hirsch, D. (2015). Redeeming sex: naked conversations about sexuality and spirituality. Downers Grove, IL: IVP Books, an imprint of InterVarsity Press.

Hodgkinson, C. (2006). Administrative philosophy: values and motivations in administrative life. New York, NY: Pergamon.

Hubbard, R. G., & O’Brien, A. P. (2006). Microeconomics. Upper Saddle River, NJ: Pearson Prentice Hall.

Hughes, C. (2014). From passion to profit: start your business in 6 weeks or less!: a step-by-step guide to making money from your hobby by selling online. Newton Abbot: David and Charles.

Jackson, E. M. (2006). The PayPal wars: battles with eBay, the media, the mafia and the rest of planet earth. Los Angeles, CA: World Ahead Pub.

Jones, M. T., & Barta, K. (2012). The PayPal official insider guide to mobile profits: make money anytime, anywhere. Berkeley, CA: Peachpit.

Kamoroff, B. (2013). Small time operator: how to start your own business, keep your books, pay your taxes, and stay out of trouble. Lanham: Taylor Trade Publishing.

Kay, J. A. (2006). The business of economics. Oxford: Oxford University Press.

Kersten, L. D. (2003). Business or hobby?: how to prove a profit motive in horsebreeding. Eugene, OR: Agricultural Pub.

Livingston, J. (2008). Founders at work: stories of startups’ early days. Berkeley, CA: Apress.

Marsh, L. (2003). House of Klein: fashion, controversy, and a business obsession. Hoboken, NJ: John Wiley.

Matus, J. L. (2005). Unstable bodies: Victorian representations of sexuality and maternity. Manchester: Manchester University Press.

Miller, M. (2012). The PayPal official insider guide to growing your business: make money the easy way. Berkeley, CA: PayPal Press.

Mohr, A. (2005). Financing your business: get a grip on finding the money. Bellingham, WA: International Self-Counsel Press.

Montgomery, V. (2010). The smart woman’s guide to starting a business. Philadelphia, PA: Chelsea House.

Morris, H. (2012). Starting up an online business in simple steps. New York, NY: Prentice Hall.

Navarro, P. (2006). The well-timed strategy: managing the business cycle for competitive advantage. Upper Saddle River, NJ: Wharton School Pub.

Ng, W., & Coakes, E. (2014). Business research: enjoy creating, developing, and writing your business project. London: Kogan Page.

Nordhielm, C. L. (2006). Marketing management: the big picture. Hoboken, NJ: John Wiley & Sons Ltd.

Norris, C. (2010). A quick start guide to online selling: sell your product on eBay, Amazon and other online market places. London: Kogan Page.

Packer, M. J. (2011). The science of qualitative research. New York, NY: Cambridge University Press.

Parker, G. G., Alstyne, M. W., & Choudary, S. P. (2016). Platform revolution: How networked markets are transforming the economy – and how to make them work for you. New York, NY: W.W. Norton & Company.

Pernecky, T. (2016). Epistemology and metaphysics for qualitative research. Los Angeles, LA: Sage Publications.

Peter, J. P., & Donnelly, J. H. (2006). A preface to marketing management. Boston, MA: McGraw-Hill.

Pierson, E. C., & D’Antonio, W. V. (2004). Female and male: dimensions of human sexuality. Philadelphia, PA: Lippincott.

Pollan, S. M., & Levine, M. (2010). The field guide to starting a business. New York, NY: Simon & Schuster.

Pullen, F. (2015). Craft a creative business. Kent: Search Press.

Reid, G. C. (2006). Small business enterprise: an economic analysis. London: Routledge.

Reid, R. D., & Bojanic, D. C. (2001). Hospitality marketing management. New York, NY: J. Wiley.

Reyes, M. Z. (2004). Social research: a deductive approach. Manila: REX.

Rhoads, C. (2014). The entrepreneur’s guide to running a business: strategy and leadership. Santa Barbara, CA: Praeger.

Robert, M., & Racine, B. (2001). E-strategy pure & simple: connecting your internet strategy to your business strategy. New York, NY: McGraw-Hill.

Roberts, P. (2011). Political constructivism. London: Routledge.

Rust, M. (2011). Doing business with PayPal: how to protect yourself from your online bank. Charleston, SC: CreateSpace.

Schmidt, D. (2012). Treat your poker like a business: how to turn a hobby into an empire. Las Vegas, NV: Cardoza Pub.

Sekaran, U. (2000). Research methods for business: a skill-building approach. New York, NY: J. Wiley.

Sepkoski, D. (2012). Nominalism and constructivism in seventeenth-century mathematical philosophy. London: Routledge.

Siau, K. (2002). Advanced topics in database research. Hershey, PA: Idea Group Pub.

Sinclair, A. (2005). Doing leadership differently: gender, power and sexuality in a changing business culture. Victoria: Melbourne University Press.

Sinclair, J. T. (2007). EBay business the smart way: maximize your profits on the Web’s #1 auction site. New York, NY: American Management Association.

Small, J. (2011). Growing your business with PayPal. Berkeley, CA: New Riders.

Smith, D. (2004). Launching women-owned businesses: a longitudinal study of women’s business center clients. Washington, DC: Center for Women’s Business Research.

Smith, T. J. (2012). Pricing strategy: setting price levels, managing price discounts, & establishing price structures. Mason, OH: South-Western.

Stim, R., & Guerin, L. (2005). Whoops! I’m in business: a crash course in business basics. Berkeley, CA: Nolo.

Stim, R. (2008). EBay business start-up kit: with 100s of live links to all the information & tools you need. Berkeley, CA: Nolo.

Sultan, R. G. (2005). Business strategy. Harvard: Harvard University Press.

Summers, D. B., & Boulay, D. (2005). The home-based business kit: from hobby to profit. Naperville, IL: Sourcebooks.

Talburt, S., & Steinberg, S. R. (2000). Thinking queer: sexuality, culture, and education. New York, NY: Peter Lang.

Taylor, B., & Prestoungrange, G. (2010). Pricing strategy: reconciling customer needs and company objectives. Princeton, NJ: Brandon/Systems Press.

Teutul, P., & Yost, M. (2009). The ride of a lifetime: doing business the Orange County Choppers way. Hoboken, NJ: John Wiley & Sons.

Thompson, G. (2003). Male sexuality under surveillance: the office in American literature. Iowa City, IA: University of Iowa Press.

Tice, T. N., & Slavens, T. P. (2003). Research guide to philosophy. Chicago, IL: American Library Association.

Walsh, B. (2006). Micro-ISV: from vision to reality. Berkeley, CA: Apress.

Weaver, S. (2005). Sheep: small-scale sheep keeping for pleasure and profit. Irvine, CA: BowTie Press.

Williams, P. (2005). Card sharks: how Upper Deck turned a child’s hobby into a high-stakes, billion-dollar business. New York, NY: Macmillan.

Wood, S. E. (2005). The freedom of the streets: work, citizenship, and sexuality in a gilded age city. Chapel , NC: University of North Carolina Press.

Wray, R. D. (2009). Christmas trees for pleasure and profit. New Brunswick, NJ: Rutgers University Press.

Sharing is caring!

The terms offer and acceptance. (2016, May 17). Retrieved from

[Accessed: September 29, 2020]

"The terms offer and acceptance." freeessays.club, 17 May 2016.

[Accessed: September 29, 2020]

freeessays.club (2016) The terms offer and acceptance [Online].
Available at:

[Accessed: September 29, 2020]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: September 29, 2020]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: September 29, 2020]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: September 29, 2020]

"The terms offer and acceptance." freeessays.club, 17 May 2016

[Accessed: September 29, 2020]