Personalizing The World
Rethink and Rediscover and survive the economy.
Most of you that read my blog are business owners. This is a tough economy; some of you will not be in business next year. Those that will survive are the ones that think outside of the box, and try to invent a niche market, or try to do better than the others out there.
In my business many people took me as arrogant, they were not looking deep enough.
I was the way I was because I was not going to give away my embroidery, my knowledge, my time, why did I have to take money out of my pocket to give it to total strangers.
Follow these simple or maybe not so simple rules:
1. Do not mix personal money with business money, not only does the IRS frown on that but you do yourself a disservice because you will not know how your business is REALLY doing.
2. if you fund your company either to startup or to expand, put a limit on the amount of money you are going to spend.
3. Look closely at your company and do not make excuses if it's failing, if you are in denial you will end up pumping personal money into it (basically giving total strangers your money) and you will never get it back.
4. Rediscover and reinvent your business, look at your hobbies, do they use embroidery? if they do then you have a leg up on other embroiderers because you know that business better than anyone.
5. Your mindset should be to act professional and you will be treated professionally.
6. Walk around stores at the mall, see what kids are buying, they are your emerging market, but don't forget the Baby Boomers we are already into our 50's and more an we are the biggest market. They are the ones that will buy that cute outfit for the grandbaby, price doesn't matter. So use corny sayings etc to appeal to us oldsters that will sell.
7. Your time, knowledge are valuable. Don't let customers take advantage of you.
8. If you give someone a break in price, don't expect that they will be your loyal customers for ever, for the most part they will not be. There is no loyalty in business today.
9. Do not use credit for most purchases, go to your bank and get a Debit Card from your business account and use that. for major purchases like machinery you can buy that on credit, but not your credit, make sure that you are not personally guaranteeing the purchase, let your business stand on it's own.
I'm sure I missed some, but you get the point (I hope)
In my business many people took me as arrogant, they were not looking deep enough.
I was the way I was because I was not going to give away my embroidery, my knowledge, my time, why did I have to take money out of my pocket to give it to total strangers.
Follow these simple or maybe not so simple rules:
1. Do not mix personal money with business money, not only does the IRS frown on that but you do yourself a disservice because you will not know how your business is REALLY doing.
2. if you fund your company either to startup or to expand, put a limit on the amount of money you are going to spend.
3. Look closely at your company and do not make excuses if it's failing, if you are in denial you will end up pumping personal money into it (basically giving total strangers your money) and you will never get it back.
4. Rediscover and reinvent your business, look at your hobbies, do they use embroidery? if they do then you have a leg up on other embroiderers because you know that business better than anyone.
5. Your mindset should be to act professional and you will be treated professionally.
6. Walk around stores at the mall, see what kids are buying, they are your emerging market, but don't forget the Baby Boomers we are already into our 50's and more an we are the biggest market. They are the ones that will buy that cute outfit for the grandbaby, price doesn't matter. So use corny sayings etc to appeal to us oldsters that will sell.
7. Your time, knowledge are valuable. Don't let customers take advantage of you.
8. If you give someone a break in price, don't expect that they will be your loyal customers for ever, for the most part they will not be. There is no loyalty in business today.
9. Do not use credit for most purchases, go to your bank and get a Debit Card from your business account and use that. for major purchases like machinery you can buy that on credit, but not your credit, make sure that you are not personally guaranteeing the purchase, let your business stand on it's own.
I'm sure I missed some, but you get the point (I hope)
Tags: baby, boomers, company, granbaby, knowlege, professional, rediscover, rethink, time
Comment
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Comment by Ernest Aguilar on June 25, 2009 at 12:00am -
I don't have the last version of Design Shop so I can't tell you if the auto-digitzing feature is good or not. But looks like you have your hands full and that's the way it should be now. Be careful with doing company logos, most of them the truckers need approval from corporate.
Great Job.
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Comment by Pat on June 24, 2009 at 7:55pm
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I am also doing embroidery for 2 veterinary clinics and I hope to expand to more. I have only been embroidering for 2 yrs, mostly as a hobby, but since the tax man has told me to start showing a profit or I can no longer declare my expenses, I have become more aggressive in my marketing.
One of the veterinarians has asked me to do some embroidery for her upcoming wedding. ie. quest book cover, bags as gifts for her bridal party, etc. I also have super bridal designs for towels, runners, pillows, etc.
In my spare time I embroider horses, dogs, or wildlife scenes onto cotton or nylon bags. I buy many of the bags at the dollar stores. They are much cheaper than sewing them myself. I also embroider sofa pillows. I donated a pair of pillows to a local fundraiser auction, and the auctioneer paid $75 for the pair of pillows so he could take them to the city to another auction. I live in a rural area.
I do not have Design Pro V9 yet, although it is on my wish list for the near future. I am wondering if it has an auto digitizing feature that is as good as the Brother PE Design 8. I am using both of my machines, as they each have their pros and cons.
I have purchased numerous designs from various vendors for animal lovers, scenery, sayings, farm machinery, cars, trucks, airplanes, etc. I also have numerous designs for children, but I find it a tough market because so many already-embroidered items can be purchased at discount stores. I do most of my practising on my grandchildren, so they have a lot of embroidered tee-shirts and jackets.
Truckers are another good market to pursue. Many truckers like to have their trucks and companies embroidered on jackets, vests, sweatshirts, etc. And they aften want Fido's collar and leash embroidered as well. LOL!
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Comment by Ernest Aguilar on June 24, 2009 at 7:33pm
- Looks like you are on the right track. Keep it up...
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Great advice. My niche market is horse and dog owners, and farmers. I do the small jobs that big businesses do not like to take on. I prefer that people supply their own garments and materials. Then I charge whatever I feel my time and efforts are worth.
I plan to take my smaller Brother in my camper to the horse shows. Then I can collect orders and do the larger orders on the Amaya. The horse market is one that I know well. I have also purchased the dog collar frames which I am hoping with be a hit once people know that I have them. Pet owners like identifying their pets and their pets' clothing.
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