Forums: Discussions for entrepreneurs and small business.

Couldn`t we also compare how we run a business with how we use money? If you get a credit card with a $5,000 line of credit, do you "go big or go home," and immediately spend $5,000?

I see a business as having assets, cash (flow), lines of credit, and so forth. But the purpose of the business is to grow and maintain some sort of liquidity. It`s supposed to generate money for the owner`s purposes---usually to make their life better.

So to go big before there are the concrete resources in place, to me is much like going out and getting over-extended with credit cards.

Hi Melissa,

I hear you loud and clear! As a mom of a 4 year old and a 4month old, I know time to yourself is so precious, especially with product development. I admire your thoughts on not getting in too deep before you should.... keep off the credit if you can! No need to drown yourself...slow and steady will win the race!

I find that I need time to design and draw more and more. I do have requests to create things for weddings and events but my goal is to promote boxed notes offline. I am still in the development stages of my product lines as you can imagine that this takes time... 4:30am or 1 in the morning... when everyone sleeps!   I`m a native NY`er, can you tell?  lol

I will check out your storybook website - have you posted it for a critique here? If you can find my link to critique mine (What a pleasure to be critiqued!) and have a moment, give me your best shots!  Best to you!

 

I am a small business with only a littel over a 1000 products and trying to get them sold on this internet is like pulling teeth. I can`t go big but I realy don`t think that going big is the ansewer for some of the small businesses unless you are going to grow like k-mart or wall-mart. For me I say no on go big.

Kristine,

Great stuff - you`ve got beautiful designs! I can totally relate to the whole working the midnight shift thing ;0) It`s hard to find quiet time around here!

Hi Don - Good luck with your online business. It is difficult to create a buzz and sell that many products online. I used to have an online boutique for little girls. I didn`t have have a 1/2 of the inventory you have and it was very hard for me to manage. Still, some seem to do pretty well? I`m sure you`ll find tons of helpful advice from others here at SUN!

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Melissa Yamello
Owner/Designer
Storybook Studio
www.storybookstudio.net

Kids` Craft Blast
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Melissa,

The painted maryjanes are adorable! The kits are a fun gift idea too. Do you sell them off your website as single orders? Are the MJ`s the only product you offer? They are just too cute...  

How long have you been in business with Storybook? I see you have many vendors that sell your product already and I`m wondering how did you approach the vendors to sell the product? Did you have a mailing/or catalog sent to prospective boutiques and shops? walk in and sell or do you have someone else market your product? I`m going through the motions now trying to win some vendors ....

Thanks for the compliment! My catalog (a 1pg wholesale/retail sheet) is ready to mail.  I`d like to get my boxed notes out there asap.  First gather the orders then go to print.... I`m ready, set and all I have to do is GO!

PS   If anyone wants to stop by a Christmas in July Sale - July 19 -20 1pm-3pm Est. time -- You can stop by to shop or network. Great group there... 

www.womenowners.com

 

 

 

 

 

Kristine -

Thanks again for the compliments on the shoes and kits. I will be selling direct off of my website when the kits arrive in September, but will also be selling wholesale to boutiques, gift shops ect.  I currently only offer the shoes because it just got to be too much for me to carry all kinds of items in different sizes. I may add more items eventually but I need to see how busy I will be marketing the kits.

I have officially been in business since January 2006. I had been doing custom orders and selling that way for a while before I decided to take the plunge. I have had several reps approach me and had my shoes in a showroom at the Dallas Trade Center, but I decided to stick with one rep for now. I`ve gotten many wholesale accounts just from inquiries off of my website. I`ve also sent a few post cards out and did get some accounts that way as well.

Maybe you can find a road rep to market your products to stationary and gift stores? Then there are tradeshows but they can be pricey. I haven`t had great luck in the showroom setting, I find that road reps are more ambitious to sell your product.

Good luck with your first catalog mailing!

 

 

 

 

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Melissa Yamello
Owner/Designer
Storybook Studio
www.storybookstudio.net

Kids` Craft Blast
Sign-up for our newsletter featuring free project ideas in each issue!

I definitely prefer the slow and steady.  I have to combine the work and home stuff all the time and there`s just not enough time in a day! If I went big, I KNOW that I wouldn`t have enough time for my two boys aged 6 and 8. So..with a controlled amount of business, it works for me.  When it gets too slow, then I would just start plugging my product to other sites (to get the word out more). But recently, with the kids staying home for the summer, I haven`t really promoted all that much because I want to spend time with my boys. They`re growing up too fast! But thank goodness the website does most of the work for me. I manage to get in a couple of orders per week - so I`m lucky in that aspect. 

But if it were my husband answering this question, he would definitely say..."Go Big!"   But for me, I say "slow and steady!"

Jeannie

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It`s been my experience that people with a theoretical belief system of how to start a business often suggest going big. Those with hands-on practical experience, tend to want to proceed a bit more cautiously.