Entrepreneurship really is a roller coaster - there's just no other way to explain it. One day you're sitting on your back steps crying over the fact that all of your prospects have disappeared or - in my case - decided that your product isn't the right fit for them. And the next you're wide awake at 11:00pm (unusual for me!) because your mind is going a mile-a-minute trying to absorb all the opportunities that have just been thrown on you. None of them are garuntees by any means, but just like fishing they are nibbles so the hope is you play your cards right and are able to scoop up a keeper...or in this case, some real serious business.
Ironically this tradeshow I've been dreading going to on Thursday (lord, I have so much to do before I leave!) is turning out to be a good thing as I have two meetings set up with potential customers there. One of which is a BIGGER customer so I think the sheer fact that they know they can see me there gives them faith that I can provide them with what they need. Funny how things work out that way.
I sometimes think that being successful as an entrepreneur is less a matter of having that one-of-a-kind idea, and more a matter of having the stomach to deal with the ups and downs. Of course enough of a bank account to absorb the downs helps as well (thankfully mine is not a cost-heavy business in the grand scheme of things). But honestly, I swear it just seems like if you can live again to fight another day then more opportunities roll your way. Some will pan out, some won't, but the hope is that enough will play your way to enable you to fight yet another day and see what new opportunities come along.
Monday, September 28, 2009
Thursday, September 24, 2009
Home Sweet Home
While at the tradeshow I talked to one woman who has grown her little company into a company that now has a very strong brand name of it's own but they are also the ones doing private label for a lot of the BIG guys as well. A very smart and very nice woman - about my age - so I was asking her about when her company was smaller. Turns out that she converted part of her garage into a workspace rather than renting space like I do. That, no surprise, got me thinking.
We have a shed in the backyard...it's a biggish shed that right now is taken up 75% with my packing materials and then 25% a mix of yard/lawn care equipment and other miscellanious (like the fake xmas tree I bought a few years ago because it pains me to cut down a living one). I was wondering if I cleaned out the shed of my packaging material could I turn it into a legititmate workspace? I'd have to buy some equipment so the first year it would probably be more expensive to turn it into the workspace then to rent, but over multiple years it would save me upwards of $6500 or more/year and wouldn't limit the hours I could be in there which would provide me with more opportunity for growth in the shortterm.
Of course, other then the cost - which I need to research, including calling in a friend who is a structural engineer to get his thoughts on a few ideas I have, there are a few downsides. The main one being is that then I'm more or less housebound. Right now two times a week I head into my workspace and since it's shared with other people I get to interact with the human race. If I work 100% from home will I find myself turning into a shutin and becoming that woman who adopts 100 cats (ok, I'd rather adopt 100 dogs and would do it if we had the space...perhaps I am that woman already?). Or are there ways to work around becoming a shutin? One idea I had, even before this thought about working 100% from home, was to volunteer at the zoo next summer at their petting zoo program as it seems like a great way for me to get my 'farm' fix for a few hours a week. If I'm working from home then it would also be a great way to get out into the real world and help provide my week with what would likely be some much-needed structure. If I take advantage of opportunities like that and others would the working from home thing be ok from a mental perspective?
Nothing's going to happen before the end of the year, now is just a time to mull over the ideas.
We have a shed in the backyard...it's a biggish shed that right now is taken up 75% with my packing materials and then 25% a mix of yard/lawn care equipment and other miscellanious (like the fake xmas tree I bought a few years ago because it pains me to cut down a living one). I was wondering if I cleaned out the shed of my packaging material could I turn it into a legititmate workspace? I'd have to buy some equipment so the first year it would probably be more expensive to turn it into the workspace then to rent, but over multiple years it would save me upwards of $6500 or more/year and wouldn't limit the hours I could be in there which would provide me with more opportunity for growth in the shortterm.
Of course, other then the cost - which I need to research, including calling in a friend who is a structural engineer to get his thoughts on a few ideas I have, there are a few downsides. The main one being is that then I'm more or less housebound. Right now two times a week I head into my workspace and since it's shared with other people I get to interact with the human race. If I work 100% from home will I find myself turning into a shutin and becoming that woman who adopts 100 cats (ok, I'd rather adopt 100 dogs and would do it if we had the space...perhaps I am that woman already?). Or are there ways to work around becoming a shutin? One idea I had, even before this thought about working 100% from home, was to volunteer at the zoo next summer at their petting zoo program as it seems like a great way for me to get my 'farm' fix for a few hours a week. If I'm working from home then it would also be a great way to get out into the real world and help provide my week with what would likely be some much-needed structure. If I take advantage of opportunities like that and others would the working from home thing be ok from a mental perspective?
Nothing's going to happen before the end of the year, now is just a time to mull over the ideas.
Tuesday, September 22, 2009
Tradeshow Hangover
Las Vegas, I have realized, is the Disney World for adults. Only with far more opportunities for alcohol and yet an equal chance to blow money. Unfortunately every time I've been there the past three years it's been for work so I've enjoyed little to none of the 'excitment' Vegas has to offer. Don't worry though, because there's nothing like a planeload of drunks coming home from Vegas to really make one appreciate Vegas in all it's glory.
The tradeshow was good. Not great - but a good 'ol solid good. Lots of interest, lots of folks coming by asking really good questions, and a decent amount of orders written. Less then last year but I really got the sense that there would be some good followup orders from people. All in all I was happy with how it went. And now I'm struggling with the post-tradeshow exhuastion that always just wipes me out. I think I spent most of the weekend in some sort of walking coma - a surprise migrane on Sunday morning didn't help things along - and I still feel like someone took a baseball bat to my brain.
At every show, regardless of how successful it was or wasn't, I've found there's always one or two things I learn that are just priceless. At this show it was the realization that I think I need to put more energy into getting direct sales versus putting all my eggs (so to speak) in the wholesale basket. Everyone loves my stuff but not everyone buys for their store because it's not a right fit. This piggybacks on the consumer show I went to a few months ago where people just loved the stuff and I had some great sales. So I've decided to dip into the decreasing company pocketbooks and ante up for an ad in one of the larger consumer publications in my niche. It will be their winter edition (they're a quarterly) and I managed to negotiate a decent deal with them that is netting me about an $600 savings. However, it's still money out of pocket so I'm hoping it's going to be recouped.
At the same time, I opened up a site on Etsy. If you haven't heard of it, Etsy is the place where some ubertalented folks essentially sell their homemade wares. I can't say I'm as ubertalented as they are but I figured given the very low cost of entry, I would put some stuff up there and see what happens. So now I'm compulsively checking my new little Etsy store and wondering/worrying over that. Anyone have any tips for Etsy? I'm brandnew to that world...
I have another tradeshow in about a week. Normally the two shows have about three weeks inbetween but this year it's literally get home from one and head out to the other. I'm trying to frame it in a positive light that in just a little over a week all business-related travel for the year will be done. Then it'll be time to focus on the holidays - and hopefully holiday sales - in earnest.
The tradeshow was good. Not great - but a good 'ol solid good. Lots of interest, lots of folks coming by asking really good questions, and a decent amount of orders written. Less then last year but I really got the sense that there would be some good followup orders from people. All in all I was happy with how it went. And now I'm struggling with the post-tradeshow exhuastion that always just wipes me out. I think I spent most of the weekend in some sort of walking coma - a surprise migrane on Sunday morning didn't help things along - and I still feel like someone took a baseball bat to my brain.
At every show, regardless of how successful it was or wasn't, I've found there's always one or two things I learn that are just priceless. At this show it was the realization that I think I need to put more energy into getting direct sales versus putting all my eggs (so to speak) in the wholesale basket. Everyone loves my stuff but not everyone buys for their store because it's not a right fit. This piggybacks on the consumer show I went to a few months ago where people just loved the stuff and I had some great sales. So I've decided to dip into the decreasing company pocketbooks and ante up for an ad in one of the larger consumer publications in my niche. It will be their winter edition (they're a quarterly) and I managed to negotiate a decent deal with them that is netting me about an $600 savings. However, it's still money out of pocket so I'm hoping it's going to be recouped.
At the same time, I opened up a site on Etsy. If you haven't heard of it, Etsy is the place where some ubertalented folks essentially sell their homemade wares. I can't say I'm as ubertalented as they are but I figured given the very low cost of entry, I would put some stuff up there and see what happens. So now I'm compulsively checking my new little Etsy store and wondering/worrying over that. Anyone have any tips for Etsy? I'm brandnew to that world...
I have another tradeshow in about a week. Normally the two shows have about three weeks inbetween but this year it's literally get home from one and head out to the other. I'm trying to frame it in a positive light that in just a little over a week all business-related travel for the year will be done. Then it'll be time to focus on the holidays - and hopefully holiday sales - in earnest.
Friday, September 11, 2009
How Early Is Too Early?
My crack PR team (aka - me, myself, and I) have pulled together a list of top blogs that I'd like to send some of my new product info to. It's all holiday products so I'm wondering how far in advance that should be sent. I was originally thinking late October but I've started seeing folks on HARO (www.helpareporter.com) asking for holiday items and am wondering if perhaps I should start now? Any thoughts?
Wednesday, September 9, 2009
Good News Bad News
The good news is that the new eco-labels I'm waiting on will be here on Friday. It's actually great news as this is a new product I want to showcase at the tradeshow I leave for at 6am on Monday morning.
The bad news is that the popcorn I ordered won't be here until after I leave. I realize that if one of the two wasn't going to be here in time it is much better for the business that it be the popcorn that doesn't make it. But still...it's just so good...
The bad news is that the popcorn I ordered won't be here until after I leave. I realize that if one of the two wasn't going to be here in time it is much better for the business that it be the popcorn that doesn't make it. But still...it's just so good...
Monday, September 7, 2009
Tradeshow Food
A week from today I will (hopefully) be in Las Vegas getting my booth set up and ready to go for the show that starts a week from tomorrow. Today the better half and I took all my tradeshow stuff down to my workspace and got it set up on the pallet and ready to be picked up tomorrow. If everything goes according to plan, it will be in my booth waiting for me when I get off the plane next week.
So now I need to refocus my tradeshow energy on an equally important piece of tradeshows - FOOD. In the past this hasn't been a major concern because I've typically had another person helping me in the booth which meant one of us could go out in search of food that was relatively healthy and not too expensive for lunch. This year I'm by my lonesome so I'm having to do a little pre-trip planning. The Las Vegas show actually isn't too bad with regards to food. My better half will be in Las Vegas next week as well for business of his own and can always get me food if needed. And in Vegas you can pretty much find anything you're looking for. Granted, it's going to cost you, but if you want a smoothie to start the day off because you just can't choke down any more carbs then you can have your smoothie. It'll cost you $8 but that's the price you have to pay on the fruit hunt.
I'm actually trying to use the Las Vegas tradeshow as a dry run for the Chicago show in early October. But, I hear you saying, Chicago has great restaurants and amazing food! And it does. I spent 2 years there for grad school and know that the city is a veritable foodie paradise. However, while the show is advertised as being in Chicago, it's actually in Rosemont which, if you're not familiar with it, is the "middle earth" area right around the airport. And if you're like me and too damn cheap to rent a car, that leaves you with VERY limited eating options. Toss in the fact I don't eat red meat (in a section of Illinois that still prides themselves on their meat packing heritage) and I'm almost completely S$*t out of luck!
As such, I've made up my shopping list of food I'm going to bring with me to Las Vegas to test out my 'nutrition' plan. Like any endurance event, nutrition is key and tradeshows are no exception. I'm going to bring some pretzel rolls for bread and some sliced turkey and cheese to make sandwiches with every day and bring to the show for lunch. Toss in an apple a day as well. Then I'm also hoping to bring some of my very favorite Gary Poppins popcorn in White Cheddar flavor: http://www.garypoppins.com/. Seriously delicious! And that should take care of the salt fix. And then toss in some Chukar Cherries: http://www.chukar.com/ and I've got the chocolate/sweet fix figured out as well. Since they have cherries in them do you think the Chukars also count as fruit?
I'm hoping this plan will help keep me fed and in good humor during the day. Night dining in Vegas is easy. Chicago (c'mon - it's Rosemont!) will be another story alltogether. Now if I could just figure out a bathroom plan since I'll be manning the booth by myself...
So now I need to refocus my tradeshow energy on an equally important piece of tradeshows - FOOD. In the past this hasn't been a major concern because I've typically had another person helping me in the booth which meant one of us could go out in search of food that was relatively healthy and not too expensive for lunch. This year I'm by my lonesome so I'm having to do a little pre-trip planning. The Las Vegas show actually isn't too bad with regards to food. My better half will be in Las Vegas next week as well for business of his own and can always get me food if needed. And in Vegas you can pretty much find anything you're looking for. Granted, it's going to cost you, but if you want a smoothie to start the day off because you just can't choke down any more carbs then you can have your smoothie. It'll cost you $8 but that's the price you have to pay on the fruit hunt.
I'm actually trying to use the Las Vegas tradeshow as a dry run for the Chicago show in early October. But, I hear you saying, Chicago has great restaurants and amazing food! And it does. I spent 2 years there for grad school and know that the city is a veritable foodie paradise. However, while the show is advertised as being in Chicago, it's actually in Rosemont which, if you're not familiar with it, is the "middle earth" area right around the airport. And if you're like me and too damn cheap to rent a car, that leaves you with VERY limited eating options. Toss in the fact I don't eat red meat (in a section of Illinois that still prides themselves on their meat packing heritage) and I'm almost completely S$*t out of luck!
As such, I've made up my shopping list of food I'm going to bring with me to Las Vegas to test out my 'nutrition' plan. Like any endurance event, nutrition is key and tradeshows are no exception. I'm going to bring some pretzel rolls for bread and some sliced turkey and cheese to make sandwiches with every day and bring to the show for lunch. Toss in an apple a day as well. Then I'm also hoping to bring some of my very favorite Gary Poppins popcorn in White Cheddar flavor: http://www.garypoppins.com/. Seriously delicious! And that should take care of the salt fix. And then toss in some Chukar Cherries: http://www.chukar.com/ and I've got the chocolate/sweet fix figured out as well. Since they have cherries in them do you think the Chukars also count as fruit?
I'm hoping this plan will help keep me fed and in good humor during the day. Night dining in Vegas is easy. Chicago (c'mon - it's Rosemont!) will be another story alltogether. Now if I could just figure out a bathroom plan since I'll be manning the booth by myself...
Friday, September 4, 2009
In Honor of Labor
Hello Labor Day weekend! After what has been a less than stellar week - capped off by not one but two bigger companies (one of which I worked with last year) telling me that my stuff is "too nice" for them to carry, I officially welcome in the long weekend a day early. I have all sorts of fun stuff planned like going for a run as soon as I peel myself out of my pjs and maybe even making a reappearance at yoga today (cause lord knows I could use a little deep breathing to find my 'center' right about now). I'll do some packaging of product because it's actually a really fun mindless task I enjoy and can sit down and catch up on Oprah or see what sort of drama Brava has on while doing the packaging. So while a little work is on the table for this weekend (albeit the mindless stuff), I hereby dedicate this weekend to things like bike rides (if the weather holds); visiting the aquarium (if the weather doesn't); 'Bollywood Bash' - an evening that will include Indian food takeout, Slumdog Millionaire from Netflix, and the absolute best bottle of Reisling you've ever had; trying to control the ivy in the yard (ha!); etc. Basically, try to celebrate Labor by not doing any of it.
The one big work-related task this weekend is to get all the tradeshow stuff ready to be picked up on Tuesday. That means we've got to get the pallet ready and get it down to my workspace for pickup. As a reward we'll be treating ourselves to a little outdoor kayaking (if the weather holds) followed by some Mexican food or a little Mexican margaritas (if the weather doesn't) followed by some Mexican food. Either way I see it as a win-win situation.
The one big work-related task this weekend is to get all the tradeshow stuff ready to be picked up on Tuesday. That means we've got to get the pallet ready and get it down to my workspace for pickup. As a reward we'll be treating ourselves to a little outdoor kayaking (if the weather holds) followed by some Mexican food or a little Mexican margaritas (if the weather doesn't) followed by some Mexican food. Either way I see it as a win-win situation.
Wednesday, September 2, 2009
The Quiet Zone
I have officially entered "The Quiet Zone" - that time when most of the work of getting ready for the Fall is done but right before the true Fall buying season actually begins. So it's quiet...very very quiet. Even quieter now that my computer decided to try it's hand at death by motherboard so it's off getting fixed. This has all left me with a lot of time to think. Nothing good can come from that as right now I'm managing to worry myself into a frenzy that no one is going to be going to the shows, no one is going to be buying at the shows, etc etc etc.
One thing I was thinking about this morning during my run (more of a walk but who's counting) was whether one has a responsibility to earn a certain amount. Let's see if I can make this make sense. And for the record, I'm talking more in the philosophical sense here rather than my exact situation. For example, if an entrepreneur starts up a business that, let's say, after expenses pays him/her $50K is it irresponsible to keep working at said business (assuming no projections for growth) if that person could be making $100K working for someone else? And by irresponsible I mean to the "family unit" - so that said person is making another member of the family carry more of the finacial burden.
Of course there are the intristics that come with being an entrepreneur - things like being able to "work from home" while waiting for the plumber to come fix a leak or having the flexibility to take the dogs to yet another vet appointment. Do those intrinsics help offset the lower income?
I guess my question really lies in the difference between being a lifestyle-oriented entreprenuer and a business-oriented entreprenuer. This is not to say that the lifestyle entreprenuer doesn't work incredibly hard, but comes to a point where they are content that their company will never have an IPO and make them a millionaire because of the flexibility/freedom and other lifestyle perks the business offers them. The business entreprenuer is more focused on making it to the $10M revenue number so they can sell the business and either a) retire to their own private island somewhere or b)start up another company. And if you started out thinking you were one type and then find yourself switching to another is that ok?
One thing I was thinking about this morning during my run (more of a walk but who's counting) was whether one has a responsibility to earn a certain amount. Let's see if I can make this make sense. And for the record, I'm talking more in the philosophical sense here rather than my exact situation. For example, if an entrepreneur starts up a business that, let's say, after expenses pays him/her $50K is it irresponsible to keep working at said business (assuming no projections for growth) if that person could be making $100K working for someone else? And by irresponsible I mean to the "family unit" - so that said person is making another member of the family carry more of the finacial burden.
Of course there are the intristics that come with being an entrepreneur - things like being able to "work from home" while waiting for the plumber to come fix a leak or having the flexibility to take the dogs to yet another vet appointment. Do those intrinsics help offset the lower income?
I guess my question really lies in the difference between being a lifestyle-oriented entreprenuer and a business-oriented entreprenuer. This is not to say that the lifestyle entreprenuer doesn't work incredibly hard, but comes to a point where they are content that their company will never have an IPO and make them a millionaire because of the flexibility/freedom and other lifestyle perks the business offers them. The business entreprenuer is more focused on making it to the $10M revenue number so they can sell the business and either a) retire to their own private island somewhere or b)start up another company. And if you started out thinking you were one type and then find yourself switching to another is that ok?
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