Tag: business mistakes

3 MYTHS TO AVOID AS MAKER

3 MYTHS TO AVOID AS MAKER

 

Are you considering becoming a handmaker  or helping a friend or family to make that decision? Hopefully this will answer some of your questions.  With the large variety of creativity  opportunities to choose from, it can be very overwhelming not knowing the truth or where to start as a maker.

Here are three myths about handmade businesses:


1. My business is just a hobby. 

Your business can start as a hobby and become a “real business “.

As long as your intentions are to make a profit,  you automatically have a business. A hobby is making things when you feel like it, making items without selling them. When you start investing into your craft and putting yourself out there, then you have a business and not a hobby. 


2. A handmade business is a quick and easy way to make more money.

Where is the lie? If you are getting into a handmade business just to get rich quickly,  you are setting yourself up for failure. First, you must have a passion for whatever handmade craft you want to focus on. You will get tired, overwhelmed, and feel like quitting many days. However,  if you are passionate about your craft; you will get yourself back on track because of your love for it. You can become successful,  but it will require a lot of effort, time and investment. 


3. You don’t need to register your business, it’s just a hobby.

Yes, it’s very important that you register your business. You could run into IRS problems down the line with your business. It’s also important because it allows you to keep records of your business. Additionally, you will miss out on many financial benefits offered for small businesses. Overall, registering your your business gives it a more professional look.

These are just a few myths that people have about handmade businesses. Hopefully this gave you clarity on some of those myths. What other myths would you add to this list?

By Mina Mantor

Three Mistakes I’ve Made As an Entrepreneur

Three Mistakes I’ve Made As an Entrepreneur

“When you know better, you do better. That said, it really is a shame to know better but don’t do better.” 

― Germany Kent

We’ve all made some mistakes as because we are humans. The key though is to learn from our mistakes and chart a better path when we get the opportunity again.

Here are 3 common mistakes I’ve made as an entrepreneur: 

1.Assuming that I had to fight for every customer’s business. I realized early on that not I would not be able to please everyone as a customer. Don’t get me wrong, I say go above and beyond for customers, but some customers will be unsatisfied regardless of if you go the extra mile or not. I learned that sometimes a sale may not be worth the peace of mind and mental drain. When we encounter those people, it is okay to preserve our peace and let them go.   

2. Not investing in my business. I think when we start out, we want to save as much money as possible. But in order to grow, we may need to invest in a masterclass, new tools, or some other opportunities that may cost us. As long as we know that the investment will benefit our business, we should be open to sowing seeds into it.

3.Taking various aspects of business personal. When it comes to customers or to rejections, we tend to internalize and see it as a rejection of us as individuals. I’m learning to remind myself that while my work is an extension of my passion, and essentially a part of me, customers see a product. They typically make decisions about the product and not necessarily the person selling the products. A no is a no to my product because maybe it’s not exactly what they need at this time, its not what they choose to spend on at this time, or a variety of other reasons. My talents are still valid and worthy even if a customer chooses not to purchase from me.

What mistakes have you made in your journey?

By Jandi H.