Week 8 of Unemployment - Starting a Business

This week has been crazy. A bit of a roller coaster of feelings about the business. 

The week started strong getting a lot done and almost ready to make the first order with the manufacturer. Then I ran into some road blocks when it came to shipping options. Should everything be included or should I charge for shipping? What would my customers expect and be happy with? This began to make me feel like I might give up a lot of my margin to cover this cost. I had never purchased supplements online so I was unaware how consumers felt about it. I signed up for a shipping club FLAGSHIP where bulk discounts are passed on to the small business through group purchasing. This could end up saving me a lot.

I had a great talk with my wife, which helped to get me back on track. I had mentioned this before and I will say it again having a support group or person to speak with when making changes in your routine is important because you will always have second thoughts and wonder if you are making the right choice. Always think back to the purpose of the change and why you are doing what you are doing. This will help to get your head straight as it can get cloudy along the long journey.

Through out the week I took some time to develop the label for the products. The manufacturer does offer a template and for $50 per product I could use and have aligned with the colours of my logo and company. At first I thought this was a great option but I soon realized I would be happier designing my own and utilizing my own skills with creative suite yet again. Who would have thought these skills would come in so handy.

So it looks like things are still moving forward and I have requested some samples from the manufacturer. Nothing like making the big purchase and realizing the product which I spent so long developing doesn't taste good.

Next week I will be going hard at the business plan, which I received a 2 week extension on. I didn't want to rush the completion to meet the initial deadline and potentially miss out on funding. 

Until next week!

Unemployment Week 7 - Starting a Business

Well week 7 has come and gone, where did the time go?

I have been really busy this week getting the business plan packed full of all the little details one does require. It has been nice to do market research and see the documented results which show my original assumptions were correct. Market research should be done at the get go but I Was content speaking with a group of friends about their needs and wants and realizing there was potential. I guess this is the very bare minimum of primary research but I will say it counts.

My business plan is due for review with the board where I may get a grant by the end of next week. I have been thinking about getting an extension (which is allowed) as I want to be sure I can edit and review the document more than once. If this could potentially get me grant money it needs to be perfect or at least close. This whole process does feel like being in school again. Writing the business plan and then submitting it for a grade. The major difference is once I get the grade I dont get a chance to make corrections and resubmit it. Ahhh the pressure!!

I have still been working with the manufacturers to be sure that I am getting what I want and not what they want to give me. The trouble I was having last week was cleared up as my account manager was sick and away from the office. An out of office notice would have been great and would have made my life easier. So the business remains in Canada completely for now.

Well its pretty much winter here as it was snowing when I woke up this morning so I will keep it short as I have to go and change my tires.

Thanks and take care.