Hi guys, most of you on here own your own buissness so have all 'started up' despite now being a recession excetra i still think if you find a neiche in a market you can do well, so my question to you all is what would you have done differntley if you had to start up over again and what are your top tips ?
look forward to hearing your wisdom!
Thanks danny.
If I had to start again I would take a begging bowl on the streets, more money and less hours :)
Stay in 'paid' employment as long as you can, work evenings if you have to. Going full time on the business is a major step forward.
Don't necessarily do designs that you love, that doesn't mean everyone else will! Market research is incredibly valuable here.
Don't under-price your stuff (without being greedy...well maybe just a little!) People will pay good money for good quality products that have taken a little though to produce.
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i don't think i would do it again if i knew then what i know now lol
i might of done something but maybe just pick 1 particular thing like mugs etc
not sure really
it's a lot of outlay but once you have it it's there and the press can do so many things so not sure if i would again actually
now i have it i have it and i'm glad i have though lol
thats kinda of a contradiction isn't it sorry i'm no help rofl ignore me
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Sums it up in one for me :)Originally Posted by smitch6
If I had something else to go to I wouldn't think twice
Keep good records and make sure your books are up to date - there's a lot more goes on behind the scenes than people see.
Echo everyone's ideas above - and good luck, you'll need it!
well.........thanks for the inspirational chat lads! lol
No, honest - we all do wish you luck, but it is harder than everyone thinks!
Best advise would be to go and seek professional help from one of those gov startup places - see if there's any grants available etc. and see if there's any deals on premises, if that's the road your taking.
Cheers John
A bit of everything that has been said.
I jumped in feet first with no clear view of what I wanted to do or who my target market was - so I was trying to be everything to everybody and the first thing I learned was people want to be given a product, very few want the "you think it, I can make it" - which was what I had wanted to do. Spent every day thrashing around doing bits of this and that, spending hand over fist trying to see what would "fit" me.
Finally, enrolled on a business appraisal course - this has meant the dye sub has taken a back seat for now but it has helped me find and focus on just 2/3 market segments to start with & I've been made to do market research & a learn a more holistic accounting system (I finally understand the basics of VAT & the difference between cash flow, sales ledger and profit and loss accounts). I've also found out about 2 grants that I may qualify for - small but will allow me to have a decent piece of kit I couldn't afford otherwise.
Finding your niche and making sure there is a market & you can get the product to the market is vital (I had wanted to do gifts for a heritage park nearby that has a visitor centre and coffee shop - with loads of coaches and tourists every day in summer, with absolutely nothing to buy except a cup of tea. However, countless e mails and letters to all sorts of government depts and TD's has left me no further. They have a no retail goods policy & it's a brick wall. :-( thought I'd found myself a nice little captive market.
And don't give up! Make a business plan but use it as a map to guide you - not a be all and end all.
Hold off & don't spend your cash until you know what you actually need, rather than what you want (which if you're like me is everything!) and don't rent a premises for the first while (I'm desperate to but learning to live with the clutter and eat meals surrounded by stuff - as not spending the money now might be what makes it work in the long run)
sarah have you thought about approaching them and asking to set up a small shop yourself there?
rather than trying to get them to sell your stuff for a profit
maybe a small workshop like you see around some places?
it would make an ideal business premises as well depending on wether ppl can get to you all year round as well tho
just an idea :)
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