Best ideas for 1st yr business owners

[Khji]

Hi! My name is Nancy. I own a business that focuses on handmade artisan jewelry and diversifying into sun catchers. My husband works the ironworks side (that's the plan). Our business name is Knucklehead Jewelry and Ironworks. What have pieces of advise do you have for 1st year businesses to help make sure they're around for the long run? Also, this is a side hustle and we have 2 young kids so life plays a huge part in not being able to do the things we want to do.

[maxpete]

@Khji welcome and glad to have you here! Great question! I wanted to tag a couple of folks from the Community to potentially weigh in with their advice.

Rooting for you!

@HC_Charlie, @bonny, @SakredJoiArt, and @Maegan 

[bonny]

Hi Nancy,

To make sure you are successful in the long-term, you need a business plan. Most creative folks have a hard time putting one together so I recommend starting with "The Right Brain Business Plan" by Jennifer Lee.  You'll probably find it at your library.  It will help you visually develop a road map for where you want to go and how you are going to do it.  The benefit of going through that process is making your business intentional versus happening by chance.  It makes a big difference because you are able to measure what's working, see what isn't, and then make whatever adjustments you need.  

Since you are located in California, when you have your business plan put together, visit your local Small Business Development Center (SBDC) to tap into one-on-one business counseling. Most of their services are free or available for a nominal cost. Super helpful folks.  They also offer a ton of on-line courses for free that will help you at every stage of business.  

Best wishes to you and your family on your journey,
Bonny Wagoner - Artist/Illustrator

bonnywagoner.com

[HC_Charlie]

Hello @Khji thanks for your post. As a fellow handmade artist who's been selling handmade fulltime for about 6 years now, at your point in your business (starting yet not full time) I'd suggest the following:

• @bonnyhas some great advice to doing a business plan, so you'll know what decisions to make to get you to where you want to end up
• How are you selling your items right now? If you do not have an online presence, I'd make sure you have one. Set up your own Square website, and also explore maybe an Etsy site since you are handmade
• Do you sell in person? I would research some local artisan fairs, craft shows, markets and figure out which ones fit your product and start booking those events. If you get your name out in the local community, you can leverage that exposure to start getting more online sales and referrals.
• Are you posting on social media like Facebook, Instagram, or TikTok? I'd have at least a small social media footprint to also help get people interested in what you make.

I would also recommend another book called Profit First (which was a recent reading selection in Square's Community Book Club). The premise of the book is that for all of the money you receive from your business, you set aside different % portions for various things like operating expenses, taxes, and your PROFIT. You need to start making money if you want to sustain your business for the long term.

I hope you find some inspiration and tools to help you in your journey. Good luck to you, and the best advice to give you is to continue to read and post in the Square Community. I think you'll find great resources in not only using Square tools, but also general business advice from fellow small business owners.

[bonny]

Profit First is an excellent book recommendation!