The Hardships of Creating your Own Business

Hello there, today I wanted to talk about the challenges of a new business and what it takes to truly be your own boss.  They always say "If 9 to 5 isn't for you, then you will be working 24/7." I have found this to be extremely true, but it is far more rewarding to create something! 

The process is quite simple when you get down to the main factors:

*Business name

*Logo

*Product or Service you want to sell

Then you go through the legal channels to make sure you can get the correct licenses among many other needed items for certain types of businesses. Most folks use simple services like LegalZoom or Zenbusiness to help the process along. 

Now, we get to the hardest part of all. Creating the Products or Services you believe someone will want to purchase or use.  Every industry is over saturated but its what your business brings to the industry that's unique or different is what sets you apart.  The largest retailers make the most revenue because they focus on customer interests.  If you make something that 10 people will need or want to buy, you are a niche service and you will have to build deep seeded client relations to succeed. 

You also have to think of the corporate competition.  Some of these companies are so big, you won't be close to compete, so you have to stick out with other practices and talents they don't use.  For example, you make wooden chairs, you handcraft them and use all your own natural pressure treated wood, rivets, and nails among anything else you need to make this product.  You sell yours for $55 and Walmart has one that looks almost the same from China for $10.  You want to price accordingly to your margin and industry. 

The effort you put into the business and how much you nurture your clients effects how well you do.  Yet we always forget that bottom line isn't going to matter if you can't maintain a team.  Employees are extremely important and I rather make less profit for myself, if I can help another person live at a comfortable wage.  So, you have to be the judge for yourself if you can afford your talent and pay proper wages and if you have any larger variables that can flatten your growth.

Then comes your marketing efforts, how can you use influencers, ads and other platforms to expand your awareness and brand.  This is one of the most expensive part of any business, because you put so much into it, you want to make sure you get at least two to three times the sales out of it.  It's tricky and in today's world there are just so many click bait ads out there, don't believe everything you read. Sometimes the best marketing is pop-up shops or even doing events for branding. What ever market and niche you are, get creative and try a few to see what works best for you.  Sadly, you have to pay to play!    

Ultimately, you can do anything you want and I full support anyone looking to grow a business or try dabbling in a new field.  Give everything a shot and learn to enjoy the ride, Good Luck! 

Thanks for reading!