Before we get to the tips, I’ll provide a little background history on my business. Frugal Fashionista By Toni has been a long time in the making. I started out approximately 13 years ago, unlike many businesses, I did not have startup funds to speak of. In fact, I started with $150. I’ll admit, I was young, and wasn’t entirely sure what I was doing. I had an idea in mind and just went for it. I’m so happy that I did.
I hesitated greatly about creating this blog post. Mostly because I feel as though I have a successful business, however, I certainly don’t live in a mansion, and I’m not making it rain flinging hundred-dollar bills into the air. I suppose the way some of us view “success” may vary. However, I have experienced both failures and successes over the last 13 years, while creating a business from the ground up. From that, I feel I am qualified to share some helpful tips that I wish I would have known from the beginning.
If there’s even one small business owner out there that I can help with these tips, then it’s worth the while to take the time to jot them down. Who knows, perhaps I’ll inspire someone who’s been on the edge of deciding to take the dive into entrepreneurism. Now for the tips.
· Brainstorm and Develop Goals- Maybe you already know exactly what your business will be and what you will offer. Maybe you have no clue, but you desperately want to be your own boss and have control over your own schedule. Depending on where you are at in the phase of creating a business it may be helpful to sit and ask yourself a few questions. Are you passionate about something? I’m not sure about you, but I would rather work hard doing something I love, than to bust my hump doing something I hate. I’d rather end the day tired but feeling accomplished and proud of what I’ve done, than to feel exhausted and defeated that I must do the same thing over again tomorrow.
Do you know what you want your business to offer? It’s best to determine your niche in the market and what exactly you will be providing your customers. This might sound easy but it’s a huge step in your business planning. Once you have a good understanding of this, you will be on your way to branding and marketing your company. You don’t want to fumble around when someone asks you what your business offers. You want to clearly explain how your business can help them and why they need to be working with you.
· Keep Organized – Take notes all along the way. You’ll go down so many rabbit holes researching, that if you don’t write things down, you’ll forget. This should help you use your time more efficiently.
· Research Your Competition- Let’s say you’re opening a boutique. Are there any other boutiques in your area? What do they carry? Do they have a large following? What are their prices? You want to know your competition. I’m not saying to make them your enemy. In fact, I’ve made decent relationships with some of my competitors, but you want to make sure that your services will exceed the competition. Obviously, you want to make sure that your prices are in check with the competition as well. Also, you may not want to open a business exactly like 4 other businesses in your area. Make sure you stand out in multiple areas. Product/service quality, pricing, customer service etc.
I’ll end today’s blog with those three helpful tips. I have many more, however I don’t want to overwhelm you right off the bat. This will probably turn into a series, as there is just so much that I’ve learned over time. If you have any questions, please feel free to email me or comment below. I’m more than willing to chat regarding my experiences.