There comes a time for every entrepreneur when you've done all the research and soul searching you can and finally decide it's time to take "the big leap." My experience in talking with other entrepreneurs is that the journey is basically the same for everyone - leave old job and start up new company (in a very abbreviated nutshell) but the weight of what the entrepreneur has done hits everyone at different times. For some folks it's the moment they give notice at their old job and realize that in doing so they are not only jumping into the unknown, but also giving up all those corporate comforts like a steady paycheck and 401K plan. For some folks it hits them when they're in the middle of trying to convert the cold, damp garage into a workable office space, and for some it hits when they make that first large financial investment into the business.
For me, one would have thought that the reality would have set in while my business school friends were all busy recruiting for full time jobs and then, later, spending their signing bonuses. But in truth the immensity of what I had set out to do hit me the day I picked up my box inventory. One of my products comes in a beautifully designed gift box which is a huge hit with everyone who sees it and really seperates the product from others in the market. Unfortunately, it's not possible to just get a couple hundred of the boxes made economically (the box mockup cost upwards of $700) so I ended up having to order 10,000 boxes. Let's not forget to mention that my better half was the financial sponsor of this inventory.
Now in the grand scheme of things, the amount of money spent on the boxes was not insurmountable. In fact, for business startups it was a relatively cheap investment. But the day I picked up those boxes and spent several hours putting them into storage crystallized for me that what I was doing was real...and that was pretty scary. The boxes act as a physical reminder that I have to make this business work or at the very least damn-near die trying. Because otherwise what am I going to do with 10,000 boxes?
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i can so identify with that! for me that moment was signing the lease on my shop. i was commiting that this business was going to happen or i would be liable for 12 months of rent!
one piece of advice another shop owner gave me before i opened was to only buy things i loved. one reason was because it's easier to sell things you love, another (and kind of sad reason) is because if your business ever goes belly up, you are going to be looking at that stuff for a long, long time.
i love being my own boss, but i'll tell you - i miss having insurance and a paycheck. but it's worth it.
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