Starting Up A New Crafting Business – its one big adventure

 
In fact it’s quite an emotional roller coaster ride. There have been times when I have been overwhelmed with excitement and others when I’m overcome with fear.

It is daunting, but is a heady adventure. The first thing that comes to mind is “its mine”, it is all mine I’m in total control, and I’m my own boss. I make all the decisions; I can buy lots of lovely fabrics and sew what ever I feel like. I must admit it only been the last few weeks since losing my full-time job that I feel happy & contented.


So after I decided to make Sugar Cane into a full-time job and business, I signed up to do five Business link courses Business Link They where all local and free. Covering all aspect of starting a Business, a business plan, cash flow forecast, marketing, managing money, your unique selling point or USP, finding customers and making a profit.

It was a wonderful opportunity, to meet others starting up and to gain a real insight into what I needed do as a business owner (I like that, owner). I must admit that my brain physically hurt after every course.

There is a lot to consideration, like what do you want from your business, what are your goals, skills and qualities, strengths & weakness, your financial position. Have you done any research, looked at your competition, the market place, potential customers, and your pricing.  


Blimey I hear you say!

This is just the tip of the iceberg, and the results are different for each business start up.

I found working on the Cash flow Forecast really focused my mind, having to take into account all your potential over heads, insurance, banking fees, Paypal & Etsy fees, Income tax and National Insurance. Also doing a breakdown of all my consumables costs for each bag or pouch that I make to see my potential profit and also price up any new designs I create in the future.

The most daunting has been the accounts or book keeping, I have signed up for a Business Link course but its not until next mouth. I have made start with a few spread sheets and I’m just “keeping” everything business related.

Other things I had to do by law was open a business bank account, get public, products liability and stock insurance, register my business with HM Revenue & Customs, pay Class 2 national insurance, and look into data protection.
 

There was and is a lot to do other than just creating my bags & purses. I know I will have to manage my time, between sewing, photography, listing, accounts, buying supplies, shipping out order, marketing.

You know it all sound quite exhausting, but I am enjoying every moment of it. I love leaning new stuff, new skills, I feel like I’m really accomplishing something, something for myself where I don’t feel I have to prove myself anymore.


Here are some links & reads I have found very useful

Moo has lots of useful tips for setting up

This I found very helpful, take a look

Lots of super duper tips from Megan Auman

A very useful e-book, a highly recommended read

I wonderful warm & helpful book, love it

I bit more nitty gritty, but very good for dipping in and out off for information.

The best place to start if you’re thinking of setting up a new business.

More helpful information here, and also how to register your business.

I great website with loads of super tips

Marketing helps you design email newsletters


Tell me about your business start up adventure
Emma xxx

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3 comments:

  1. a very inspiring read Emma,but I don't think I am quite that brave to go all the way and do my crafting as a business, I did think at the begining that is what I wanted, but now, I am not so sure. I do have a folksy shop, and things have been going quite well, but I am now hitting a post christmas lull. Good luck for the future, I will look out for your bags etc.
    Tracey Christie from Folksy.com/shops/bagsofelegance

    ReplyDelete
  2. Great blog post, and some fab links. I've just started an outlet for us crafters - trying to keep the overheads down and lower than the etsy/folksy charges. We're at http://thecraftersbarn.co.uk (I hope you don't mind me putting that, but if you feel it's cheeky then don't worry about deleting) Your links are great resources.

    ReplyDelete
  3. Thank you both for such positive comments :D:D:D

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