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Mornnninggg Seller Community! ☀️
Today I'm wondering...
What is the hardest decision you've had to make for your business?
What made it the most difficult? How did you come to the decision?
I look forward to reading your replies ✨
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In the 26 years I have been in business, there have been quite a few difficult decisions that I have had to make. The most difficult of all decisions I had to face was back in early of 2014. My mother and I have owned and operated consignment boutique stores since 1995. We successfully started, from the ground up 4 stores with an enormous amount of back breaking, labor intense hours, a lot of determination and a dream. The first four were in south Florida and they were instantly successful from opening day. Everything was cruising right along and then it happened. My world was about to be turned upside down and little did I know then, that I was going to be faced with the hardest decision that I ever had to face in my life..
My Dad was visiting friends in Alabama and decided to extend his visit for a few weeks, to help some friends out on their business. Why not? He was retired from the railroad, after 30 years, and had nothing else that was going on. He called my mom and discussed it with her and she said she didn't mind. Well, and this is a big well, a few weeks later, when my dad called my mom for thier nightly chat, he laid a bomb on her. He said these exact words, "you can stay down there, you can come up here but I am not coming back.". What!? What did he mean he was not coming back? My dad had fallen in love with the small town of Rainsville, Al and the good hearted people of the town. My mother, of course decided to move to Alabama, leaving me, myself and I, to run four stores, 6 employees and 9000+ consignors all by myself. Here was the toughest part. It wasn't the handling of the employees. It wasn't the tallying up 9000+ consignors account, (no computer-old school books). It wasn't even the hustle and bustle, flip flopping travel between the four stores I had to do. The toughest part was trying to still have the joy and love for the business without my mother. It wasn't the same. It became just a business. So after 4 long years I made the hardest decision that I've ever had to make and that was that I only had one choice. I closed all 4 stores and moved the bustling city light of West Palm Beach Florida to the very small rural town of Rainsville Alabama. It was without a shade of a doubt that God put this plan into action because just after four months of moving to Alabama my Dad was diagnosed, out of the blue with a brain tumor and passed away at the young age of 65. My mother would have never been able to handle the loss if I hadn't made the decision the move to Alabama. We are coming up on 13years now with our busting at the seams, 5th consignment boutique store and we are very proud to have it together. Nu2u Consignment Boutique is whate we call ourselves and the name couldn't be more fitting because everything that had happened was New to us. Thanks for sharing along with me. God Bless
So sorry for your loss @Dolffan. Thank you for sharing your story and I'm happy to hear that relocating turned out very well in the end! 🎉
The hardest decision I have made (other than just starting) was to stop being insecure of playing with the bigger companies. I needed to accept learning and taking advantage off all the tools and knowledge that was available to me. I also learned to work with professionals (like accountants and marketers) where I lack the best skills.
Passing on the opportunity to grow because the new location was a lease and I will ONLY ever buy the space if I can own it outright. The right opportunity will come along you just have to be patient and pounce once it presents itself to you.
Same
We didn't purchase property in Amherst like we should have, long before the pandemic. Now we're missing out on tons of business because people don't like coming to Cleveland to purchase from us.
To shut the doors😢
The hardest decision for me in my business was if I should shut down shop. My boutique was burglarized and it felt like such a personal violation. I couldn't even walk around and feel comfortable there anymore. I was devastated. I ended up closing down for two years and when I started back, I just sold online.
In 2015, I had an already-established writing business with a lot of clients and a great reputation. When we decided to launch the pool business, I had to decide whether to keep that business and try to manage it alongside the pool company. I had an interested buyer for the writing business, so I sold it, which enabled me to focus on the growth of the new company. It was a scary risk to take, considering the writing business was 15+ years old and the pool business was brand new, but it turned out to be the right choice. The pool business easily overtook the income I had been making within only 1 year of its launch, and it keeps growing as more people keep moving to this area (near Houston, TX). Sometimes you have to weigh the pros and cons and just go with your gut, take a risk and work hard, and hope it pans out.
The hardest decision I've had to make was raising prices for my services. I had built up a small amount of business and enjoyed the (budget-friendly) market I was in, but I could tell staying on the low end of the price range was keeping me from becoming profitable and hampering potential growth. Ultimately it took a good friend encouraging me to get me to realize the service I was offering was better than my price point, and I started charging more. The end result was even more clients!
Letting go of an employee is the hardest. Sometimes it is obviously the best choice and sometimes it is more of a judgment call. We try to maintain a family atmosphere with staff, so cutting someone loose is tough. It sends a message to everyone though. We are a family of choice, and we hold certain standards.
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We were already in Escrow before COVID reared its ugly head, so we took a leap of faith and have ridden the COVID roller coaster ride for the past 12 months hoping and praying that the pandemic would be over soon. "Maybe this month, maybe this month..." You all recognize the scene, I'm sure. It goes without saying that riding a roller coaster for too long, although perhaps enjoyable at first, can make anyone pretty sick, weary, and ready to bail.
Nevertheless, we are still standing (often on blistered and callused feet), sales are increasing weekly (suddenly scrambling to find help and supplies), and we now have over 75 five star reviews under our belt thanks to our loyal customers and an amazing team of friends and family members whom I have dubbed "my angels."
We will continue to fight the good fight even though the road is still quite rocky. And as we have maintained and remind ourselves each and every day, "God is good!" 🙏
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We had to give 90% bonus sales to a customer because of the delays in releasing of fund.
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The hardest decision I've had to make for my business was to become legitimate and actually create it. The hardest part of anything is starting and learning something new, it can be quite uncomfortable. Growing within my entrepreneurship has open my mind and changed my perspective immensely, there's never a dull moment where hard decisions aren't made. Choosing to step outside of routine and societal expectations, to walk a non linear path is hard lol. I salute my fellow business owner/entrepreneurs!
Peace and Love, Asia.
leaving my full time job to take a chance at running my business full time.
Not closing, despite low sales, and no funding from "guaranteed" sources
I hope you survived and as the tide is turning, the sales are increasing. Hang in there.
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