About This Episode
I’m beginning to do a short recap episode every 5th episode or so, as a way to summarize the takeaways and lessons learned from the past few business owners. These will be 20 to 35-minute episodes (instead of the longer form ones), and I’ll summarize what takeaways or practical lessons I drew out from the previous business owners.
Fear is normal.
- So when you feel afraid, that’s not necessarily a sign that you’re doing something wrong.
- It’s scary to put your name on something. It’s scary to put yourself out to the world. But when you feel afraid, remember: what’s the alternative? Not doing that thing. And besides, what’s everyone else doing anyway?
- Ally started with $10,000 in a co-working space.
- Sarah started Rye Goods out of a food truck.
- You don’t need to go into debt.
- Stacy started by buying antique, old rings, and cleaning them up, then selling for a higher value: 1, 10, 1,000
Invest in building your brand.
Work hard and keep your head down.
- Stacy flies out to LA on weekends and takes a red-eye home, just to find fresh styles, and keep up with trends.
- Sarah DM’d coffee shops, asking if they wanted to sample her baked goods and ended up getting her first wholesale clients. That’s not sexy, but if 1 out of 10 end up as customers, and you need 10 wholesale accounts in the next month, DM 100 people!
Stay true to yourself.
- Stacy left Urban Outfitters rather than have no one know who her brand was, or what she was about.
- Sarah chose the location 90% of her followers didn’t choose, and chose baking what she loved, rather than what the people wanted.
Seek council (or, you don’t need school).
- Ally sought counsel from customers that happened to be really good at business, and developed good relationships with a couple who advised her.
- Sarah DMs bakers on the IG community to ask for tips and help.
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