Just the thought of starting your own business is so exciting. You start thinking about all the “free” time you are going to have. The fact that you will be “your own” boss. Not to mention the “abundance of money you are going to make”. Stress, you’re hoping is going to be something of the past.
Well, I hate to put a dampen on those thoughts – they do happen BUT not nearly as soon as you’d like or hoped for. It is so important to remember that Rome was not built in a day. It’s true it takes time to build your little empire / business.
Free time, what is that? Okay, I’m only kidding you do have more time for yourself and for your family but there are some nights when you have to slave away to ensure you get the job done / out.
Yes, you’re right! You don’t have a boss monitoring your time but you probably will have staff reporting to you or as in my case distributors too, sometimes they become your boss LOL.
Money, salary, dollars, ching ching uhm what is that? Every bit of money that you make ends up going back into your business. In my case its to buy ingredients (stock), labels, containers, essential oils etc. You end up cutting back on a lot of other expenses. Your nights out at restaurants seem to come to a halt for awhile. You have to ensure you have enough money to pay your staff and rent at the end of the month.
I remember when Barend and I first started the business, we hardly saw one another. I worked every day in the shop with the exception of a Monday. Some weekends Barend would take over at the shop so I could see the kids. Night time I had to make products, the hours of work were endless. We never had employees to assist, simply because we could not afford it. There was no extra money to pay for a shop assistant, we were the shop assistant. A few months went by and eventually we managed to afford a shop assistant, who is now my right hand lady.
I have endless nights of stress, wondering if we’re going to have enough sales for the month. Will there be enough money to pay rent, suppliers or staff? Every month we manage.
My biggest worry is always about cash flow. Cash flow can make or break your business, tear it apart and ruin it. I’m not the smartest cookie when it comes to money. I don’t think further than my nose at times and I’m one of those that when I want something I want it now. This is probably the reason Barend is in charge of the finances. Obviously I cannot do everything LOL. We work well together.
Choosing staff is important. I have three awesome staff members and they will grow with our business and they will be with us for a long time. Don’t get me wrong I’ve had to dismiss a few, but that had to happen so that when the right ones came along I’d know, I’d treat them well, train them and cherish them. Managing staff use to be Barend’s baby but I’ve learnt to set my boundaries and I manage them well.
Stock control is an absolute pain, but so important. If you don’t manage it well you’ll end up being robbed blind and I don’t necessarily mean by your staff but by people popping into your shop. Unfortunately, these things happen – sad but true.
Marketing is tough. There are so many different ways to market, you can hand out pamphlets, appear on the radio, appear in magazines, do promotions, twitter, facebook etc. I for one have to admit that “word of mouth” is best. Unfortunately, it is not always about what you know but sometimes who you know.
Branding is vital. You need to ensure that you are consistent with your brand, labels, signage etc. especially if you have branches or franchised stores.
Getting your brand out there is also a tough one but if you have a good product people will buy it. I am very select about who markets / promotes / distributes or franchises. I’ve had to turn away people because they did not fit the brand. No I’m not a snob (okay maybe sometimes) LOL. You can’t put your product in any old salon or shop because you want the sales. Image is so important.
You have to know the ins and outs of your product, the pros and cons. I am forever learning about new products and ingredients. You need to know about the up and coming products in SA and abroad.
Understand your products and the ingredients. Train your staff so they are smart and friendly.
Competition is something I do not avoid. In my industry there are so many other brands, some really good ones and some really bad ones. As a beauty therapist I have worked with several beauty houses / products so I know and understand other products. Of course I try my competitors products, how else do you think I’ve mastered mine. I learn from there mistakes and from their success. Its not necessary to follow your competitors every move, but keep up to date and know your industry.
Now that I’ve covered all of the above, the bad or if you want to call it the ugly. Let me tell you about the good, the bliss, the excitement. What you have to look forward to.
I don’t have to fight traffic everyday and come home with a stiff neck or sore shoulders. I walk to my factory. I start at 9:00 am Tuesday – Friday. I do not work on a Monday, unless it is really necessary. Mondays are my days. I sleep in, I read, I stay in my pj’s, I do what I want to do. Gogo looks after the kids.
I get to watch Joshua play sport or attend his school functions. Should my babies be sick I am able to be home with them. Girly catch up is awesome, coffee dates and lunch dates happen.
Thrilled that his mommy is there to watch him
If I’m missing my hubby I get to pop into his office (10 metres from mine) and give him a great big hub.
I can play on the internet when I want too and for as long as I want too. Most days my music blares in the factory, it keeps me going. My staff and I have so much fun whilst working.
To me the best and greatest of all is job satisfaction, the pure fact that my job is my passion. It shows because of our growing success, but still it is damn hard work and I don’t think its going to get any easier, perhaps I’ll just learn to cope better when the stress levels are high.
Would I change it. Not a chance. Never. I LOVE WORKING FOR ME!
