If you’re new here, you should know that this whole “starting a small business” thing isn’t my first rodeo.
And like a past boyfriend, I wouldn’t say that my previous business attempts were complete failures. I learned from each one and they all led me to the right one for me.
Just after my first kid was born, I started a small business selling custom designed cell phone cases. After 2 years of that, I refocused on blogging and photography, and grew both significantly, but still never quite reaching huge goals. I learned along the way that there are a handful of reasons I shouldn’t have “started” those businesses, and why my current business makes so much more sense for me, and for right now.
I’m not saying I’m destined to be a millionaire, but I know I’ve finally landed somewhere that I am extremely confident in and that I love so much I want to marry it. Dramatic much?
Here’s a list that I keep writing in my head that helped me to gain some clarity about why so many businesses ultimately fizzle out…
I want to hear your business stories here or on facebook though, so come chat it up!
1. “I just thought it would be something someone else would totally buy if I made it…”
There are lots of handmade businesses out there that are and have been doing very well simply making something and selling it. However, just because you CAN make something and someone MIGHT want to buy it, is not a valid reason to jump into business with yourself. How do you like spending your time? Do you WANT to be working with your hands all day? Do you WANT your business to grow beyond what you can make or is that as big as you see it? If it IS, then go for it! There are lots of handmade businesses that have taken off and done extremely well, I’m not saying otherwise, but that shouldn’t be the first and only reason.
I jumped into the cell phone case game when that was hot. I will tell you we did well both years, designing cases for women who totally thought that over $40 for a cell phone case was a normal thing. It took me some design time, I had them printed, and then I branded and shipped them out. It wasn’t rocket science, but I wasn’t passionate at all about it, and it was an idea that had no longevity. Eventually, once companies caught on and started making cuter and cheaper cases, people realized that it was ridiculous, and the time I was spending to make them was too. It just wasn’t where I wanted to be… I needed to really REALLY care about it. And though phone candy made me smile, it didn’t make me happy as a day-to-day job.
2. “I could sell a billion of those if I just get them on a deal site!”
Yeah, I did that too. I sold hundreds of designed prints that I designed myself and people thought were cute. I made a few dollars each, sold lots, and it really didn’t take me all that much time to package and ship them all out in one sitting, but then what? Did any of those new customers know me or care about my products? Nah, but that was a great print and thanks for the deal! I learned I don’t want to pander to sites just to get more “eyes on what I had to offer” I wanted to grow eyes on my own products, and build my own audience. Even if that takes lots of time and nurturing and doing it the right way. {There is another way to use these new customers right and to make more money for sure, but we’ll get into that later…}
Also, 1 of the 3 sites I sold my products on completely ruined my sale, losing me lots of money! For the work to create something “handmade” this kind of time wasn’t really worth the return. {Granted, we were in DESPERATE need of any additional funds, so at the time, it kinda was…}
3. “I can open an etsy site and the traffic basically works itself out because it’s a social network! Advertizing: done.”
Well yes and no. I ran an Etsy shop and while yes, it helps to get people there, and some will come back looking for more, the same is true unless you are passionate about marketing your brand, and not just your product or service. I have learned that some of the best businesses, know how to get me to see their products or services because they are geniuses at handouts and free content. These are the people who can build their own social community around their brand and people love to be a part of their niche community. i.e. Freshly Picked, who has her own community and following who love her products, will always buy and share, and know where to find her. It took some work and time genuinely communicating with her audience, but that is one captive audience of customers.
I also have a few friends who have added a significant revenue stream selling their styled brand photography on etsy or the creative market. {This one is from my friend Kate Maxwell. Both of these business models work very well because those are items so many are searching for. That’s the key in this case I think, people are already searching out those products, and if yours fits their need, they buy it! By being on these sites alone, your products will not make money. {I will say, my few friends who do this also happen to know how to market as well… so that helps.}
4. “I will just go “word of mouth”/I want to grow so huge!”
Dear, there is ALWAYS some marketing involved if you want to grow your business. That’s it. When I was growing a photography business, I tried to work out some sort of referral program. I wanted a way to let my customers do the talking, so I could sit back and just watch the clients roll in. It wasn’t happening. Partly because I didn’t really stand out as a photographer, and I didn’t really have my own “stamp” of style yet that some more established photographers do. I realized I had to find more creative ways to market to future clients and current ones. Once they were here, yes, they would come back, they’d mention to their cousin that they liked my work, but I had to make a careful plan to get them here in the first place. A clear, marketing plan is key.
My photographer for Color Me is incredible, and she’s booked all. the. time. In my opinion, she undercharges for her time and work, and I don’t say that often about photographers. She also TRULY loves it. While she is mostly word-of-mouth now that she has lots of repeat clients, she grew a following on facebook, {which is still kind to photographers} and she found lots of ideal clients to help her grow. In MY case, I found that I really like shooting small families, but bigger families and babies were not so much my thing. I couldn’t market to clients and build a following if I didn’t truly LOVE it. Maria loves what she shoots, and caters to her community of military families so she understands her clients and where they come from.
If you want to grow, set goals and decide how to reach them, don’t say, “well someday I hope to have 1000 followers…” work for it!
5. No plan and no passion = no future.
Ooh, that sounds nice, right? I have learned that I can only be as good at anything as I plan to do so. Color Me Apparel is the first business that I sat down and mapped out exactly what I wanted to do, how I was going to do it, set goals, and involved as many people as possible to get it going… It’s obviously still in the baby phase and a work in progress, but I have a plan that is much more clear and defined and it is already more successful than my other endeavors because of it.
The other HUGE factor is that I can’t see myself reaching burn-out. Overwhelmed at times, yes. Busy, sure. But I truly enjoy all the aspects of the job, and I outsource what I don’t, so I love the work I GET to do, which means I am more focused, I work harder, and I have lots of people in my corner to help support me and guide me along the way. I KNOW I have a future cause I have a plan to get there and I think about it all day and night. If your business idea isn’t something you think about all day and night, something you dream about, literally, perhaps it is missing something. Like a few hours with pen and paper is all….
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This post is the first in a new series all for my fellow entrepreneur friends and girl bosses. To stay up to date on these kinds of posts, sign up here and select girl boss entrepreneur stuff to get the latest stuff. We have lots of tips and tricks we’d love to share! Or click the “color me girl boss” link at the top to see all the past posts. We’ll be posting on Mondays as part of #mompreneurmonday
