HOW TO AVOID THE #1 MISTAKE MOST NEW BUSINESS OWNERS MAKE

Thank you for joining me. I hope you will find this website useful and I hope it will help put you on the right path to creating the craft business of your dreams.

My husband and I first opened our own online craft store specialising in scrapbooking supplies in 2003. Since then, we have been on an amazing journey together. We have learnt a lot along the way about the craft industry and about running a business. We have had our ups and downs, as has the industry in general, but we have always weathered the storms and come out the other side still smiling.

Unfortunately, not all craft business owners have been so fortunate. Over the years we have seen hundreds of exciting new craft businesses open. Many of them bring fresh new ideas and concepts to the market and inject enthusiasm into crafters around the world. Unhappily though, all too many of them don't survive, close down within a year or two and are soon forgotten. It always makes us so sad to see a business close as we know it is someone's dreams coming to an end.

As business owners, we invest so much of ourselves into our business. We weave our confidence, our pride, our self-worth, our hopes, our dreams for the future and our very souls into the success of our business, so it can be devastating not only to us, but to those who care about us, if it comes to an end.

We do not want you to have to go through that!

Instead, we hope that by sharing our years of experiences and observations with you, we can help you build a thriving craft business that brings you not only great profits, but great confidence, joy and fulfilment.

So let's get started…

The #1 Mistake Most New Business Owners Make

The biggest mistake that most business owners make when starting out (and the #1 reason why they do not succeed) comes down to a lack of planning and forethought.

I know it sounds so simple, but it is an extremely common and easy trap to fall into. And the consequences can be disastrous for your business and your emotional well-being.

Most of us open our craft business because we love our craft. I know I certainly did! What could be better than earning a living doing something you absolutely adore right? And there's no doubt about it…doing something you are passionate about is an amazing feeling that enriches your soul.

The problem is, we get so caught up in our enthusiasm for our craft and our dreams that we charge in headfirst and don't really think through the long-term consequences of our actions and decisions. We're simply too excited to stop and think!

As a result, many of us make the wrong decisions and end up on a path to unhappiness, stress or failure instead of on the path to our dreams. It can be heart-breaking and yet it is so unnecessary and can be easily avoided.

I invite you to pause and just take a small step back from your business aspirations and plans. I understand how excited you are at starting your own craft business, but please take a little time to reflect on your decisions as you read through this website and make sure you are giving yourself your best shot at reaching your dreams.

Identifying Your Dreams

When thinking about your new craft business, I am sure you can come up with a million and one different things that you `could' do – you could sell craft supplies through your own store, you could make your own things to sell, you could teach other people how to do your craft, you could make little kits so people can teach themselves etc etc. The possibilities are endless.

The secret is to find the one or two things among the millions that will truly bring you the business and the lifestyle you want.

But how do you know which ones to choose?

I believe business success is not just about profits but is about creating the lifestyle you want.

Take some time to think very carefully about what it is you truly want. Write down your thoughts and dreams in a notebook so you can refer back to them at any time. This may seem like a waste of time to you, but it is extremely important. It will help you build a business that is aligned with your goals, dreams and values. Whenever you have to make decisions, you can refer back to your notes to ensure your choices keep you on the right path.

For me, my dream was to earn a living with my husband at my side, doing something we love while still giving us lots of time to spend with our family and the freedom to travel whenever we wish (and for as long as we wish).

It is a fairly simple dream, but it is my guiding light and it influences all my decisions. For example, if I am given an opportunity to do something that will take me away from my husband or my family or that I know I won't love doing…I simply say no.

Your dreams may be very similar to mine or they might be completely different. It doesn't matter as long as you never forget what they are and you remain true to them.

Staying True Your Dreams

Staying true to your dreams is not always easy. For me, one of my dreams was to have plenty of time in my day to spend with my family and yet, at least in the beginning, the exact opposite was true. I was working seven days a week and often until very late at night. I only saw my family and friends on special occasions. That was definitely NOT what I was striving for!

There didn't seem to be an end in sight. Once you fall into that trap, it can be very hard to get back out again.

But I did! And life (and our business) is so much better now. I work when I want for as long (or as little) as I want. And if I want to take time off…I do.

It all came down to proper planning, understanding the consequences of the decisions I was making and taking steps to align my choices with my dreams.

Most of us start our craft business as an expert in our craft – we love our craft and have already developed our crafting skills. Unfortunately, the same cannot be said of our business skills. I know when I started out, I was so enthusiastic about my craft that I didn't really think about the business side of things, other than meeting any necessary legal requirements.

I made decisions because it sounded like the right thing to do or because I saw other people doing something and thought that I should therefore be doing it to.

I had a very steep learning curve. Yours does not need to be so steep or so difficult. In fact, if you embrace what I am sharing with you here, it can be a lot of fun!

The Three Keys To A Successful Craft Business

There are three important keys to building a successful craft business. Let's take a look at each one.

1. A Willingness To Learn

Knowledge is the key to any success and this is perhaps one of the most important factors in your business's ability to grow. It is very important that you open your mind and are willing to learn from others who have already found success.

Think about your craft. At some point you were a complete beginner but you took classes, read magazines, experimented and continued to learn and hone your skills.

Business is no different. As time goes by, you will continue to learn and as you do, your business will grow.

It is important to invest in yourself and your business as you move along on this journey. Over the years, we have purchased and studied many books, ebooks and training programs. This action alone has had a dramatic impact on our business and allowed us to push it to new levels we would have never been able to reach on our own. Without training ourselves in how to build a business, we would have been stumbling around in the dark.

On the flip side, keep in mind that while it is important to invest in your education, for it to do you any good, you need to take action based on what you learn. There are so many things out there to study that you can overwhelm yourself with so much information that nothing ever gets done. This will not help your business at all. To begin with, select just one or two key people who resonate with your beliefs and goals and learn what you can from them. You can always add more people and sources of information later. The important thing is to get the right start and get moving. You can always improve and learn more as you go.

2. Planning

As we have already discussed, it is important to start out with a plan. You need to know where you want to go in order to work out how to get there.

When you are taking a family holiday, you don't just get in the car and drive. You have a destination in mind and have chosen a route to get there. Sure, you may make changes along the way but you have an end goal in mind.

Look back at the notes you made about your dreams and your lifestyle goals. Are you looking for a hobby business on the side or do you want to quit your job and work from home? Are you looking for more time with your family without compromising your income levels?

Whatever your aspirations, it is important that you think about your goals seriously so that you can build the right business for you.

3. A Willingness To Enlist The Help Of Others

Once you start your business, you will soon find you have a million and one different things to do and a billion and one things you feel you need to learn. You can't do them all but as an owner, we often feel we have to take responsibility for absolutely everything all by ourselves. After all, noone cares about our business as much as us, right?

The truth is, if you do try to do it all yourself, more than likely, you just won't get anywhere and if you do, it will be at a much slower pace than is possible.

You need to enlist the help of others to take care of at least some of the day to day running of your business.

For example, when we first opened our online store, we would spend hours each week packing and sending parcels to our customers. We eventually woke up to the fact that this was not a good way for us to be spending our time and it was taking us away from activities that would actually grow our business. So we hired my Dad (who is retired) to take care of the packing for us. It might not seem like much, but it gave both my husband and I more time to focus on making improvements to our business and ultimately increase our income.

One of main reasons people do not hire help is because they do not want to spend the money. That's understandable, especially when you are just starting out but it can be a real trap. I would like to challenge you to really think about the implications of not hiring help and what it really means to you when you try to do it all yourself.

For example, we have a website that features a lot of different banner graphics. I am not a graphic designer by any stretch of the imagination, but I do have some basic skills using graphics programs. I made the first banner for that site myself. It took me all night to complete (about 5 hours). I was very proud of my banner and we still use it, but I can think of better ways to have spent my five hours. One little banner is not really much to show for five hours work!

So, the next night, when I needed another banner, I took a different approach. I worked out what I wanted my banner to be, defined my specifications and hired someone else to do it. It took me less than 20 minutes and cost me $5 US. Sure, I was down $5 but I now had an extra 4 hours, 40 minutes to spend on something else. And, because I hired someone in a different time zone (it was night time where I was but daylight where they were), my banner was ready and waiting for me when I woke up the next morning.

Which option would you prefer? And which option makes more sense for your business?

Hiring help does not have to be expensive, but it can make an enormous difference in your ability to grow your business. And in today's online world, you don't have to hire full time staff to work on your premises (unless you want to). You can hire permanent staff from anywhere in the world or simply outsource specific tasks when you need to. It's up to you.

As you go forward in your business, start thinking about the tasks you might be able to get someone else to help you with. You might do them yourself at first but in the long run, the more you hire out, the more you can focus on building your profits and taking time off.

Moving Forward

If you embrace these three keys to a successful business, you are already miles ahead of most people looking to open their own craft business and are a long way along the path to your dreams.

I hope that you have found this information helpful and it has given you something to think about when moving forward with your business.

The next step is to choose the right business model for you – one that ties in with your lifestyle goals and dreams. There are many different types of businesses to choose from, each with their own advantages and disadvantages.

Some of these business models, like selling on ebay, I am sure you are quite familiar with. But there may be others that although new to you, may suit your goals and aspirations far better. Consider all your options carefully. Your choices will determine the direction you go in and will define the steps you need to take along the way.

If it all seems just too hard, join us here at Craft Business Buddy and we will step you through all of these crucial early decisions so that you can open your own craft business with confidence.

For just $49 per month you get access to our mentoring program to guide you in detail along your way. To find out more about what the mentoring program covers, please click here.

Good luck!

While we are happy to receive email queries, we don't guarantee that we will get back to you immediately. However if you decide to join our mentoring program you get access to me and my team of experts. We look forward to helping you to create the craft business of your dreams.

Best wishes,