I really want to have my own studio! something really small that my one day get bigger. any solid advice for someone just starting their first business venture?
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I have had my own business for 2 years now. I worked for others for over 10 years. Even though it has been hard because of various reasons including Florida being hit bad by the recession, I am so happy I have done it. My advice to you is website, Facebook, join local groups( My partners and I are members of a group of women who own small businesses. When you are slow, think of marketing ideas. Even on the days I don't have appointments, I go to work--maybe someone will call or a walk in or I will send cards to clients, posts things on Facebook or think of ideas. Try not to stress, people can smell that a mile away! It takes time, but once your clients know that you care about them they will be loyal to you. My husband says make sure you have an emergency fund.
Thanks Cat for the advice. I keep hearing such positive things... so I am more encouraged than ever... I have a website and try to update it daily. I signed up for the google search engine but have not completed the business info yet because I was waiting on conformation of my business address...I received that today so I am going to proceed with that. I am even thinking about joining yelp... that's a great way to hear from people who LOVE ... and hate you. I take all feedback as good feedback :) I am going to look into finding a local women group in my area. That is an amazing idea. Tell your husband he is right! an emergency fund is a MUST! I was told by a friend of mine to maybe even keep a part time job just to keep me a float! Hope all is well in sunny Florida! Hope to hear from you again!
Hello Tiffany! This is Tiffany! I so understand your need to open and do your own business. Before going into any business you have to write a business plan. This is CRUCIAL to your success. It makes you think of every last detail. It also allows you to do projections of what you want to accomplish now and for the next three years. It makes you have to do research. What are your cometitors doing? What kind of advertising will work for you in your space. Just because you build it.... Does NOT mean people will come. Next... Look losely at your personal finances and start trimming. What can you live without? Do you want to get a bank loan? What is your credit score and worth? What is the bare minimium you can live on? Next... Go the your local S.C.O.R.E chapter for FREE advise from other owners. They usually offer at the local ommunity college through score inexpensive classes on how to open a business in your state. Next.... LOCATION>>> LOCATION>>>LOCATION... Do NOT go for hidden spaces with cheap rent. All you will do is have to pay more in advertising or your clients can't find you. As far as retail.... This is a huge expense that ties up alot of funds. Even though you will have high profit from sales, you also have to pay taxes on it AND move it quickly. Small retail to start then build from there. I started my business with $2000 and three credit cards AND 80 clients. My first year? Little over 1000 clients, debt paid in six months, and added three employees in a recession. You can do it if you prepare and plan ahead. Makes it so much easier!! Best of luck to you!!!
thank you so much for the advise. I have been working on that business plan everyday for the last year. I am sad I have to give up shoe shopping ALL the time but I want this more then shoes. I am near the college so I am hoping I will be able to attract some of the college business. I plan on taking everyone's advise when it comes to retail. I have to find something small and then get bigger! Thank you for giving me things to think about. I hope to let you know soon that things are great!
Thanks again
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