How to create a successful business
from doing what you love
(i.e, craft hobby, interest, passions).
Step 2: Where to start?
Once you’ve
identified what you love to do, the next key step is to work out whether there
is an opportunity for you to live the life you want and make money from your
passions.
Once you’ve worked
this out, you have to ask yourself the following questions:
·
Are you good at it?
·
Do you think you
could make a living from this?
·
Are you ready for
this?
·
Are you 100%
COMMITTED
If so, then you’re
already halfway there.
Let’s just say that
you’re a fantastic sewer who loves making quilts. You want be able to sew
quilts full time and sell these to customers. There are a lot of fantastic
quilters out there.
So...
- What is going to make your quilts different
from everyone else?
- · Why are people going to buy from
you?
Here are some points you need to consider:
- What is it you are going to sell?
- Are you a product or service based business?
- Are you really selling products or sewing for
other people etc...
- What makes you different and unique?
- What is your Quirk or USP (Unique Selling
Point)?
Remember, there’s
no point doing exactly the same thing that other people are doing.
Discussion points
about uniqueness:
In every business
there are basic fundamentals that you need to consider. I guess some of the
things you could think about are maybe the fabrics you use... Are they
different from everyone else? Like limited edition fabrics, vintage fabric or
special yarns with a green environmental focus.
Maybe you want to
manufacture your own...
Perhaps your
patterns are different...
Maybe you will sell
cushions to go with the quilts...
Perhaps your unique
selling point is embroidery or using silks etc.....
Other things to
consider too:
- Where will you work?
- At home or away from home? Compare the
advantages and disadvantages between
the two so you can see which
one would suit your business lifestyle.
- You may want to share your studio with other
(complimentary) designers or artists who will help you by sharing
expenses, referrals, overflow work, inspiration & support, etc.
- How many hours?
- Are you able to work full time or part time?
How will you allocate time for work and time for looking
after your children and family? Be disciplined when you allocate time.
Remember, this is
your passion and your business, so it’s critical that you invest the time you
need to nurture your passions (and your business).
- Can you do the work yourself or do you need to
hire someone to do it for you? You may need to get someone to complete
part of your product. Outsourcing – getting someone else to do it for you.
For example, sending out your handbags to a sewer to sew the handbags for
you etc.
- Wholesale or retail? Different skills are
involved with each...Are you going to sell your product direct to your
customer or are you going to sell your product to a retailer?
- How will you promote your work?
- Leverage today’s technologies and embrace
them. Welcome them into your business.
- Don’t forget to set aside some time to do your
Blogs.
- Work your network using FaceBook, Twitter.
Virtual networks are just as important as face to face networking events
and direct contact with your customers and industry colleagues.
- Who are your ideal customers? Narrow down to
your key customers... The customers that will generate income for your
designs and business.
- Production work? Are you going to produce
unique work; “One Off” items, or are you looking to create a production
line and repeat the same product.
- Work out your costings: Knowing your cost is
key! Ensure you have included your self worth (Your hourly rate), your
overheads, and don’t forget to include advertising and marketing costs.
- Who are your competitors?
- What is their competitive edge?
- What are their strengths & weaknesses?
- Who are your role models and heroes? We all
have an idol. Find out more about them, get inspired, and follow their
successes. Your role models don’t have to be in the same industry, but if
you do have one in the same industry as you... even better! Your role
model could be a celebrity, someone in your family, or circle of friends.
At ArtSHINE our
coaching methods not only focus on the business side, but also on the personal
side too, so that there is a perfect balance between life and work. It may be
that when you start down this new path you still have to work full time in your
existing job, look after children, do the housework... And you’ll have to
devote time, energy, and effort to this new business too.
Well, this is
great. What we do at ArtSHINE is to make sure you leverage your time so that
you can do both things and still feel good about everything. It’s all about
making your transition easier.
Please
tune in for next week:
Step 3: Goal
Setting
How
to create a successful business
from
doing what you love
(i.e, craft hobby, interest, passions).
Link to:
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