What I’ve Learned Since Starting My Business

Starting a business is not for the faint at heart. I have learned so many things and boy do I have a lot more to learn. I have to give it up to all of you successful entrepreneurs…. especially you small black business owners.

In the midst of COVID-19, I had the bright idea to launch a business. I’ve always enjoyed crafting, but this time I decided to get serious about all the creative ideas that I had either written down on a sticky note, in my notebook, in my phone or on some random piece of paper. In doing so I have learned a few things that have really opened my eyes about being a business owner.

Here’s what I’ve learned thus far.

1. Be Your Own Biggest Supporter
Not everyone will be a supporter of your business and that’s okay including family and friends. Be your own supporter. You can’t count on everyone to support your dreams and that’s why you’ve got to move in silence. There are a lot of strangers that will support you.

As I like to say...some will, some won't, oh well...carry on!

2. Collaboration over Competition
Not everyone is your competition so stop trying to compete. There are enough coins for everyone to have a slice of the creative pie. Many times, when I have reached out to inquire about a skill or a process I’ve been met with “of course I can help you with that” to no avail. Do your own research. Trial and error will be your best teacher…. remember practice makes perfect.

Oh yeah…if someone has the means and reaches out to a fellow small black business to do some collaborative work…i.e. wholesale purchases…don’t make them chase you. Either you want to work together, or you don’t. Either way there’s another small business that could use the money.

3. You have to spend money to make money
Investing in yourself is an investment in your business. YouTube university has a lot of videos that can teach you a few skills. Utilize your network and those around you. Buy the subscription, watch the tutorials, invest in the all access and purchase the software that you need to make your business a success. With great risk often comes great reward.

4. Your prices are your prices
Being a creative takes a lot of time, thought and execution. So, you are free to charge what you want. Most handcrafted art is not completed in five minutes. It takes a lot time. It takes a lot of products and it takes a lot of patience…especially when working with epoxy. People stand in line and pay full price for shoes that are over $250. If they want to support you and your craft, then they will pay what you charge. Provide discounted prices at your discretion, not theirs.

5. Show Gratitude
It’s a blessing to have something that you created to call your own. Be thankful for the process. Be thankful for the journey and more importantly be thankful to those that support you and help you along the way.

What have you learned as a business owner that you would share with a new entrepreneur?