Dorymae
Well-Known Member
I thought a lot about this post. Whether or not I should post this or not and whether it would help anyone. I decided that if it helps one person then it will be worth it.
A little back history on me. I'm 45 and since I was 20 I knew I wanted to work for myself. I was always involved in something and I've owned numerous business. I've sold stocks and bonds, vacuum cleaners, restaurant advertising, air purifiers, and owned a daycare. Most of these businesses honestly did okay, not great but ended after between 3-7 years.
Starting a business is exciting, it is full of possibilities and expectations. I don't want to take that away, but I do want to temper it a bit with reality. What I've learned, what all business owners eventually learn is no matter how much you love what you do it is work. You will face trials, you will face financial trouble and to persevere through these things you need a plan.
First, if you are reading this and think that starting this business will help you make money when you have very little or none you are wrong. This business will cost you money for at least the first 2-3 years. If you can not afford that you will not succeed the way you think you will.
There are two types of business in the crafting industry. The hobby business and a money business. A hobby business will basically pay some of what your hobby costs you. It is also how most people start. There is nothing wrong with this, it is slow and takes a while before you will see money come in. Eventually with a good product and a bit of luck you might be able to step it up to a money business if you wish. If you don't have much capital but love making soap this is the way to start.
The problem I've seen is a lot of newer soapers are really excited about starting a business without considering what the real cost of that business will be. They have the idea of a business but no plan to implement it.
I've said before, "write a business plan" but I'm not sure most people even know what that means. It's hard to do and it isn't fun because it brings the stark reality to light, but it is the single most important thing you can do if you want a business, hobby or money.
A business plan starts with who you are, why you want to do this, how are you different and goes on to how will you do this, who are your suppliers, what is your cost. Continues with what is your market, how do you reach them, what do they want and how do you interact with them? Who is your competition, what do you do better? It should cover what work needs to be done, and who will do it and when. Money is a major part of a business plan, who has it, who needs it, and where is it coming from. What are your resources if you need more money to continue? Private loans? Bank loans? Savings?
There is so much more to consider other than, I can make soap - I should sell soap.
I've had business fail not because of money but because I didn't plan and when problems arouse they were overwhelming and I didn't know how to deal with them effectively. Don't let this happen to you.
So you think you want to sell soap? What's your plan?
A little back history on me. I'm 45 and since I was 20 I knew I wanted to work for myself. I was always involved in something and I've owned numerous business. I've sold stocks and bonds, vacuum cleaners, restaurant advertising, air purifiers, and owned a daycare. Most of these businesses honestly did okay, not great but ended after between 3-7 years.
Starting a business is exciting, it is full of possibilities and expectations. I don't want to take that away, but I do want to temper it a bit with reality. What I've learned, what all business owners eventually learn is no matter how much you love what you do it is work. You will face trials, you will face financial trouble and to persevere through these things you need a plan.
First, if you are reading this and think that starting this business will help you make money when you have very little or none you are wrong. This business will cost you money for at least the first 2-3 years. If you can not afford that you will not succeed the way you think you will.
There are two types of business in the crafting industry. The hobby business and a money business. A hobby business will basically pay some of what your hobby costs you. It is also how most people start. There is nothing wrong with this, it is slow and takes a while before you will see money come in. Eventually with a good product and a bit of luck you might be able to step it up to a money business if you wish. If you don't have much capital but love making soap this is the way to start.
The problem I've seen is a lot of newer soapers are really excited about starting a business without considering what the real cost of that business will be. They have the idea of a business but no plan to implement it.
I've said before, "write a business plan" but I'm not sure most people even know what that means. It's hard to do and it isn't fun because it brings the stark reality to light, but it is the single most important thing you can do if you want a business, hobby or money.
A business plan starts with who you are, why you want to do this, how are you different and goes on to how will you do this, who are your suppliers, what is your cost. Continues with what is your market, how do you reach them, what do they want and how do you interact with them? Who is your competition, what do you do better? It should cover what work needs to be done, and who will do it and when. Money is a major part of a business plan, who has it, who needs it, and where is it coming from. What are your resources if you need more money to continue? Private loans? Bank loans? Savings?
There is so much more to consider other than, I can make soap - I should sell soap.
I've had business fail not because of money but because I didn't plan and when problems arouse they were overwhelming and I didn't know how to deal with them effectively. Don't let this happen to you.
So you think you want to sell soap? What's your plan?
