how to start a SUCCESSFUL small business in 2024 🌷📦 the ULTIMATE guide, advice, everything i learned
TLDRThe video script narrates the creator's journey in starting and growing a small business, emphasizing the importance of consistency, having a clear vision, and taking action. The creator shares valuable lessons learned, such as the significance of deadlines, managing expectations, offering affordable shipping options, and diversifying products. They also discuss the challenges of balancing a growing business with academic responsibilities and the shift from Instagram to YouTube for better content sustainability.
Takeaways
- 🚀 Starting a small business requires inspiration and learning from others' experiences.
- 📅 Consistency in posting and creating content is crucial for growth and developing a unique style.
- 🎯 Having a clear, big-picture vision for your business helps maintain motivation and direction.
- 📊 Over-planning can hinder progress; it's better to learn through action and experience.
- 🎨 Investing in tools and equipment can be a turning point for improving product quality and efficiency.
- 💡 Sharing goals with others prematurely might not always be beneficial; sometimes it's better to keep plans private until execution.
- 📆 Setting a hard deadline for launching or achieving business milestones is essential for pushing forward.
- 💸 Pricing and shipping options should be considered to ensure accessibility for a broader customer base.
- 🛍️ Offering a variety of products can increase the potential order total and make the business more rewarding.
- 📈 Choose the right platform for your business that aligns with your goals and lifestyle.
- 🔄 Streamlining packaging and operational processes is key for scalability and managing time efficiently.
Q & A
What was the speaker's initial motivation for starting a journaling account on Instagram?
-The speaker initially started the journaling account on Instagram for fun and had no intention of selling anything at the beginning.
What was a key mistake the speaker made with their Instagram account?
-A key mistake the speaker made was not having a big picture idea for where the account was heading, which made it hard to stay motivated and see the purpose of continuing to put effort into the account.
What did the speaker learn about consistency from their experience with the journaling account?
-The speaker learned that consistency works not only because it pleases the algorithm but also because it helps in developing a unique style and voice by exercising the skill of creating and sharing work regularly.
Why did the speaker struggle to stay motivated to post on their Instagram account after gaining a significant following?
-The speaker struggled to stay motivated because they couldn't see the purpose of continuing to put effort into the account, as they didn't have a clear vision of where the account was taking them or how it fit into their future plans.
What was the turning point for the speaker in deciding to start their own shop?
-The turning point was when the speaker had the idea of starting their own shop, given that they already had a following on Instagram, which made it seem like a possible venture to pursue.
What did the speaker realize about the balance between planning and action during their journey?
-The speaker realized that there is a limit to how much planning one can do and that learning from one's own journey and taking action is far more effective than trying to learn everything from others' experiences beforehand.
What was the speaker's initial reaction to their friends' mixed reactions to their designs?
-The speaker was affected by the lack of reaction from some of their quiet friends, which made them hesitant and less satisfied with their work at that time.
What important lesson did the speaker learn about sharing goals or plans with others?
-The speaker learned that it's better not to share goals or plans with others before executing them, as it eliminates the pressure to perform well from the start and allows them to work best in a low-pressure environment.
What was the speaker's strategy to ensure they met their deadline for opening their shop?
-The speaker set a hard deadline for opening the shop, promising themselves that they would announce and start selling regardless of how many products they had created or finalized by that time.
What was the outcome of the speaker's shop launch, and how did it compare to their expectations?
-The shop launch resulted in around 30 orders and $600 in sales, which was a disappointment for the speaker as they had expected a more successful outcome, similar to what they had seen on YouTube channels.
What practical lessons did the speaker learn from their shop launch experience?
-The speaker learned to keep expectations moderate, offer cheaper shipping options, start with as many products as possible to increase the highest possible order total, and consider which platform to host their shop on for better sales and brand establishment.
Outlines
🚀 Starting a Small Business Journey
The speaker shares their personal experience of starting a small business, emphasizing the importance of consistency and having a clear vision. They discuss the initial stages of gaining a following on Instagram, the challenges of maintaining motivation, and the lessons learned from over-planning without action. The speaker also highlights the value of not sharing goals prematurely to avoid external pressures and the significance of setting deadlines to drive progress.
📦 Launching the Shop and Learning from Experience
In this paragraph, the speaker narrates the process of launching their shop, from the initial excitement to the reality of the first launch's outcome. They discuss the importance of setting realistic expectations, offering affordable shipping options, and starting with a diverse range of products to maximize potential sales. The speaker also reflects on the choice of hosting their shop on their own website versus platforms like Etsy and the lessons learned from their first shop update.
🎨 Balancing Creativity and Practicality
The speaker delves into the challenges of balancing the creative aspects of their business with practical considerations. They discuss the need to streamline packaging for efficiency and scalability, the consideration of digital products to reduce inventory and shipping concerns, and the importance of maintaining a content calendar to ensure consistency in posting and product creation. The speaker also emphasizes the value of evaluating the primary platform for the business and detaching personal emotions from the success of the business.
📚 Current Status and Future Plans
The speaker concludes by updating on their current status as a sophomore at Carnegie Mellon University, studying computer science and art, and their ongoing efforts to grow their shop through YouTube. They express excitement about building a community on YouTube and sharing various aspects of their life and journey, inviting viewers interested in productivity, university life, and small business growth to join them on their path.
Mindmap
Keywords
💡Small Business
💡Consistency
💡Big Picture Idea
💡Planning vs. Action
💡Deadline
💡Expectations
💡Shipping Options
💡Product Variety
💡Website Hosting
💡Packaging
💡Digital Products
Highlights
The importance of watching YouTube videos and learning from others' experiences when starting a small business.
The motivational impact of seeing others pack hundreds of orders and the inspiration it provides for one's own business.
The creator's personal journey in starting their small business, sharing both successes and challenges.
The lesson of consistency in posting and its role in developing a unique style and voice.
The realization that a big picture idea is necessary for long-term motivation and progress.
The transition from a journaling Instagram account to starting a shop, leveraging an existing following.
The importance of taking action over excessive planning when starting a business.
The challenges of designing products and the learning curve involved in creating sticker sheets and art prints.
The impact of sharing goals with friends and the mixed reactions received, leading to a preference for privacy in goal pursuit.
Setting a hard deadline for launching the shop and the urgency it creates for action.
The reality of the shop launch and the lesson of managing expectations.
Offering affordable shipping options to attract a wider range of customers.
The advantage of having a diverse product range to increase the highest possible order total.
The decision to host a shop on a personal website versus established platforms like Etsy.
The practicality of streamlining packaging for efficiency as the business grows.
Considering digital products as a time-efficient alternative to physical inventory and shipping.
The challenge of maintaining consistency in posting and product creation amidst the pressures of a shop update.
The benefits of a content calendar for planning and avoiding burnout.
Evaluating the primary platform early on for sustainable content creation and audience engagement.
Detaching from the outcome of one's work to focus on continuous progress and improvement.
The creator's current status as a computer science and art student at Carnegie Mellon University, balancing studies with shop management.
The excitement of building a community on YouTube and sharing various aspects of life, productivity, and university experiences.
Transcripts
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