I want to start my own business! I want freedom! I want to be my own boss! I want to set my own hours!
Great! You have the motivation to be an entrepreneur. Now what? When we started our business back in 1992 we had no idea what we wanted to do. We just knew we hated our jobs and were sick and tired of working for other people, who honestly just seemed to love bossing other people around. We needed an idea. Something that would bring value to other people. We started by doing floral designs on drift wood, then wooden trinkets, etc. Selling these items at local fairs for pennys on the dollar. It was fun, it barely paid the bills but we loved what we did. But we realized that the products we were making and selling, just weren't what the people wanted.
1. Come up with a GREAT product or service that ads value to people's lives, or brings joy.
For us, that was our Personalized Name Frames. We had a child of our own and the idea of being able to display his cute little pictures throughout the house in a little frame that said his name was awesome. That was our first building block to the great business we have today.
2. Be very smart with properly pricing your product/service.
You can have the best product and service in the world, but if you underprice it, people will think its cheap and not a quality product. If you overprice it, then people won't pay for it. It becomes a dream or wish that one day they might be able to afford it. Make sure that your product is priced in a way that YOU the business owner is making a good profit but also your staying competitive in the market.
3. Hours are not as flexible as you think.
The dream is that we can set our own hours. That is true, and it is also not true. Yes, we have the ability to come in a little later in the morning. Or maybe take a day off and go fishing. However, there are also many, many days that you are forced to be at work until 6pm...7pm....8pm because the work just isn't done yet. Also, many days you'll find yourself working from home. In the end, it's all worth it, but you have to be aware and respectful of the fact that your business needs your help to grow and run properly.
4. Don't forget about the more important things
As we just talked about how the hours aren't as flexible as you make like them to be, you also need to be mindful that you have a family. You have faith. People who care about you and that you care about. For us, the business is always number two in our lives. This is the reason for us that the business hours are flexible. Take advantage of the opportunities the business has allotted you. Spend time with family and enjoy recreation together. Don't forget to keep the business in it's proper place.
We've done our best to follow these step throughout our 25 years in business and it's helped us dramatically to stay happy and enjoy what we do.