Let’s Talk Business

With the encouraging comments that I’ve received so far in response to yesterday’s SBQ, I wanted to sit down and chat about the concepts for a moment and see if I can’t gain some additional perspective.

The LNS/ONS would most likely start as an ONS. We have a friend who recently started his own brick and mortar business last year and have learned a lot by observing him. I simply don’t have the stamina at this point to be able to be at a store all day, 6 days a week, with no money to hire any employees to help. It’s just really a rough ride for a brick and mortar store. An ONS would be less intensive from a physical standpoint, but would require careful business planning in order to draw traffic. Why would people buy from me rather than another ONS? In order to turn a profit, I wouldn’t be able to offer lower prices in the beginning, so how would I make my shop stand out and be unique? I have some ideas, but I’m not sharing right now. 😉

So, I think the LNS idea will have to remain a pipe dream, while the ONS is a slowly coalescing fog. 😆

Don’t think that I haven’t thought seriously about designing, as well. I’ve even looked into large format printers (and almost bought one when I bought my new photo printer last year) for printing larger charts. Really, with so many designers now doing self-publishing, it’s becoming more reasonable to get a design business started, but keeping it going and making it a success are as difficult as ever. Especially while working full time. I model stitch for one designer who is in just such a situation and it’s very tough for her. I get the sense that she is often frazzled and that burning the candle at both ends is really taking its toll on her.

The relatively minimal startup costs of a design business don’t daunt me nearly as much as a retail store. If I can muster enough creativity (and Terry has had some great ideas as to how he could also contribute design ideas) to keep a steady flow of designs, even if it’s a trickle, I will probably make the leap.

The thought of being in the red with a small business doesn’t phase me anymore, as long as we’re both still working full time. After all, we’ve had our web business for nearly 8 years now, but have never turned a profit. We have several steady customers whose websites we host, but the real money is in the designing of sites, not the hosting. We can’t even begin to compete with the big hosting companies out there who make their money in other ways, so most of our customers are loyal friends and family. We have a good idea of what it would take to make the business profitable, but we haven’t been brave enough to take the leap and have at least one of us stop working full time. Besides, my strong self-doubts about my own abilities are still hindering me from being successful in any creative venture right now. I need to work through those issues, hone my skills, foster my creativity and boost my self-confidence first. If I can develop my drawing skills, I’ll be in much better shape because I pretty much guarantee that if I can draw it, I can chart it. 🙂

I just had a long discussion with Terry over lunch about this whole subject and he’s heartily in favor of taking the plunge. Because we already run a web company and I was of this same mindset when I purchased my latest printer, the startup costs will be near zero for a design company. I even came up with a company name a year or so ago and have had the domain name reserved ever since. I won’t reveal the name until I have a logo to go with it and am nearly ready to go, but it’s a generic name that will allow me to market multiple product lines like needlework designs, dololly/marking pin sets, even jewelry, if I so desire.

Oh my gosh, I am really buzzing now. The caffeine rush from the Excedrin that I took a while ago for my headache doesn’t help, but it does get the ideas coming out fast and furious! Where’s my planner? It’s time to jot down some notes.