#startupventure

[josephmchammas]

Progress of Start-Up Venture – Week 9

Spreading the word to friends and family about my little used book business has garnered a little bit more traction. I’ve managed to close another couple of sales and may have one or two more potential buyers. That said, the traditional digital channels I was using before are still not generating much of a buzz and I’ve begun to take some new photos of various groups of the books to try selling them by the bundle with new listings.

As I began to discover last week, the potential online merchandising solutions that are low-cost or free seem to have a lot of limitations and are likely not worth the money and effort put into them as there’s a pretty slim guarantee that they will drum up any new business.

I still feel a little weary as the project trucks along, not entirely sure if I’ll meet my projected profits, but there are still a few things I’m hoping to try. While falling back on the baked goods idea might be a viable option, it would still require a pretty drastic restructuring of the business, having to take into account a new budget for ingredients, supplies, etc. I may put out a couple of “test listings” to see if the interest is any higher for tarts and pies than it is for books. I feel that between my difficulty properly marketing the business, and people’s reservations about buying used goods during a pandemic, it’s difficult to gain traction.

As I stated before, I’m finding that running a business has many challenges, and I feel like that would still be the case even in the best conditions.

I really have to pump myself up to put in the time and care to properly market the business and create the new listings to get things going. While I’m confident that my stock of books has a number of great titles that would interest people, a lot of my reason for going with this particular venture was the fact that I was already stocked with the product. I can understand people’s reservations about purchasing used books, especially now. But if I don’t believe in my own product, no one else will either!

With all of that being said, there are still some options I can explore in the coming weeks to try to kickstart the business.

[htrimble95]

Week 7 START UP VENTURE PROGRESS

here I will share a little about how the start up of my micro-business is currently going

what is working & is not working

IS:

finding wood for my signs that is recycled rather than bought new creating a more affordable price point for my customer base and creating a solid marketing strategy for "environmental sustainability"

getting the word out in the community that I will be attending the vendor blenders and craft sales in the community in the near future utilizing social media and my current connections as a known face in the community as a business leader

ensuring that I post sneak peaks; targeting my customers and getting people excited about my products

using materials that are affordable example paint and stencils that will last but wont break the bank ( dollarama in Kenora is a life safer; i made a larger investment in supplies initially to avoid multiple trips as we don't have a dollarama here)

planning and execution

IS NOT

well you see i come by it honestly; but i am horrible about procrastination and leaving thigs to the last minute and then basically whipping it all out last minute SOME HOW; this is one trait of my ADHD that continues to get worse the older I get

soooo

finding time to make the signs for my upcoming vendor has been challenging around part time school, full time work running a business and full time single mumming

i underestimated the interest i would have from the get go so i feel that my initial predictions for what i need to produce are inaccurate and i do not want to have the reputation for selling out and then disappointed customers that come to see me

reminding myself quality over quantity; and making sure to set aside a bit of time every day to work on my products

how do you feel the project is coming?

i feel that my project is coming along nicely; i have always been complimented on the decor in my home and people are telling me theyd buy my things so now that i am venturing out i believe that i will be successful in sharing my passion with the world. I also am learning to make sure not to overinvest from the get go; i dont want to dump too much into the business until i start generating some revenue but i also want to have selection so learning to find that healthy balance is essential. I feel pretty confident about people accepting me into the small business community in my town and am excited to share something i truly enjoy doing in my free time.

what are you learning about running a business?

i am learning so much about running a business; and i find it extremely unique that i can take some things that i already know about running a large scale business and adjust to my micro-business so that i can make the most profit possible

i have learned that small business's are a Nickle and dime game and every dollar counts especially when starting out; combating this by reusing paint brushes, ensuring caps are on my paints and cans, using less paint more often when putting multiple colors out on my palette are all cost saving things i am applying now that i am transitioning from a craft for myself mindset to a craft for a business mindset

i am learning that it can be a lot of fun but its also alot of work and there really are obstacles around every corner

what are you learning about yourself?

i am learning that i need to work harder to overcome my struggles with time management; however this is something i already knew

i am learning that although i currently run a business for someone else its very fulfilling starting and running a business for myself

i am learning that its extremely fulfilling when your passionate about the things your selling in your business

i am reminding myself that i am not perfect and learning that i will always face things that are discouraging but its important not to give up on your dreams