10 Things I’d Do Differently If I Started My Small Business in 2024
Summary
TLDRIn this insightful video, the creator of a handmade art business reflects on the strategies they would employ differently if starting over in 2024. Highlighting the importance of early investment in business infrastructure, the need for building a supportive team, and the value of time and energy management, the speaker shares crucial lessons learned. They also emphasize the benefits of direct sales through personal websites, the use of .store domains for increased visibility, and the integration of AI for efficiency. Additionally, the video touches on the significance of financial planning, embracing technology, prioritizing personal branding, and fostering a strong professional network. The creator encourages documenting the business journey and being authentic to connect with customers on a deeper level.
Takeaways
- 💼 Invest in your business early by purchasing better equipment and supplies, and eventually hiring employees to save time and increase efficiency.
- 🤝 Build a team and ask for help to avoid burnout and ensure sustainable growth, delegating tasks to free up time for more critical business activities.
- 🛒 Consider selling directly through your own website rather than using marketplaces to avoid fees and have more control over your brand and customer relationships.
- 🌐 Choose a .store domain for better visibility, more visitors, and potential savings on essential e-commerce tools, which can be beneficial for a small business.
- 💰 Learn financial planning early on, including setting up a business checking account and possibly a business credit card to track expenses and earn rewards.
- 🤖 Embrace technology, including AI tools, to assist with tasks like email writing and generating content ideas, to save time and increase productivity.
- 📱 Focus on short-form video content like Instagram Reels or TikToks for more effective marketing and personal branding.
- 📸 Document your business journey, including behind-the-scenes footage and personal stories, for marketing and to reflect on your growth.
- 🔗 Build a strong professional network for support and community, engaging with other small business owners on social media platforms.
- 👥 Show your face and personality early on to connect with your audience on a personal level, using story branding to make your business more relatable.
- 🎥 Consider the importance of visual storytelling and personal branding, as it can significantly impact the success and relatability of your small business.
Q & A
What is the main focus of the speaker's business?
-The speaker runs a handmade art business, specializing in selling cute polymer clay creations.
When did the speaker start their business and what was their educational background at the time?
-The speaker started their business in 2020 while still in graphic design school.
What challenges did the speaker face in the early stages of their business?
-The speaker faced challenges such as learning everything business-wise by themselves and managing logistics without prior knowledge.
What is the first piece of advice the speaker would give if starting a business in 2024?
-The speaker advises investing back into the business early on, such as purchasing better equipment and supplies, and eventually hiring employees.
Why did the speaker initially hesitate to invest in a label printer for their business?
-The speaker was reluctant to spend $100 on a label printer and instead chose to print and manually attach labels, which was time-consuming.
What is the second main point the speaker emphasizes for a successful business?
-The speaker emphasizes the importance of asking for help and building a team as soon as possible to avoid burnout and to manage the many tasks involved in running a business.
Why does the speaker recommend selling directly through one's own website instead of using a marketplace?
-The speaker believes that having one's own website avoids marketplace fees and is more beneficial since the business owner is already investing time in marketing and bringing in customers.
What is the significance of a domain name for a business according to the speaker?
-A domain name is significant as it is the first impression customers get of the store and can impact visibility and marketing effectiveness.
What benefits does the speaker mention about using a .store domain for a business?
-The speaker mentions that a .store domain can attract 87% more visitors, double the visibility on Google, and save 12% per conversion when running ads.
What financial advice does the speaker give for someone starting a business?
-The speaker advises opening a business checking account to separate personal and business expenses and getting a business credit card for earning points and managing finances.
How does the speaker suggest using AI to benefit a small business?
-The speaker suggests using AI for tasks such as writing emails with Grammarly AI and generating content ideas with Chat GBT to save time and increase efficiency.
What social media strategy does the speaker recommend for a small business in 2024?
-The speaker recommends focusing on short-form videos like Reels or TikToks instead of just aesthetic or professional photos on platforms like Instagram.
Why is documenting the business journey important according to the speaker?
-Documenting the business journey is important as it provides valuable assets for marketing and allows the business owner to look back and see their progress over time.
What is the speaker's view on creating a professional network on social media for small businesses?
-The speaker believes that engaging with other small business owners on social media can provide support, community, and opportunities to learn from each other's experiences.
What is the final piece of advice the speaker gives for showing one's face and personality in a small business?
-The speaker advises showing the face and personality behind the business to connect with customers and make the brand more relatable, which is a part of story branding.
Outlines
🚀 Investing Early and Building a Team
The speaker reflects on their small business journey, starting with the handmade art business they began in 2020. They emphasize the importance of investing back into the business early on, such as purchasing better equipment and supplies, and eventually hiring employees. The speaker regrets not investing in a label printer sooner and the time wasted on manual tasks. They also highlight the significance of asking for help and building a team, as trying to do everything alone can lead to burnout. The speaker shares their experience of delegating tasks like packing orders and handling emails to free up time for more critical aspects of the business.
🛒 Selling Directly and Embracing .store Domains
The speaker discusses the decision to sell directly through their own website instead of using marketplaces like Etsy. They believe having a personal website from the start is beneficial, despite the initial learning curve. They also mention the importance of choosing the right domain, expressing regret for not choosing a .store domain earlier. They highlight the advantages of .store domains, such as increased visitor attraction and visibility on Google, and the cost savings on ads. The speaker announces their switch to a .store domain and provides a promotional offer for viewers to do the same.
💼 Financial Planning and Utilizing AI
The speaker stresses the importance of financial planning, recommending the opening of a business checking account and obtaining a business credit card to track and manage business expenses effectively. They express regret for not doing so earlier, missing out on potential rewards. They also advocate for embracing technology, particularly AI, to assist with tasks like email writing and content idea generation, emphasizing the value of time and energy in running a small business.
📱 Social Media Strategy and Personal Branding
The speaker talks about their approach to social media, suggesting a shift from curating aesthetically pleasing photos to creating short-form videos like Instagram Reels or TikToks. They argue that showcasing personality and having fun is more effective than appearing overly professional. They also discuss the importance of documenting the business journey, from the first website to product launches, as a valuable marketing asset. The speaker encourages building a professional network and engaging with the community of small business owners on social media for support and shared experiences.
🎨 Storytelling and Personal Brand Presence
In the final paragraph, the speaker emphasizes the power of storytelling and personal branding. They suggest showing the face behind the business and sharing personal stories to connect with customers on a deeper level. The speaker cites examples of successful small businesses that have done this effectively, turning their products into personal and relatable brands. They conclude by thanking viewers for their support and encouraging them to start their small business journey with a .store domain.
Mindmap
Keywords
💡Small Business
💡Investing Back
💡Label Printer
💡Asking for Help
💡Building a Team
💡Marketplace
💡Domain
💡Financial Planning
💡AI (Artificial Intelligence)
💡Social Media
💡Documentation
💡Professional Network
💡Story Branding
Highlights
Investing back into the business early on for better equipment and supplies.
The importance of valuing time and energy by outsourcing tasks and investing in employees.
Asking for help and building a team to alleviate stress and prevent burnout.
Selling directly through one's own website to avoid marketplace fees.
Choosing a .store domain for better visibility and customer attraction.
Learning financial planning early, including opening a business checking account and getting a business credit card.
Embracing technology and AI to streamline business operations.
Focusing on short-form videos like Reels or TikToks for business promotion.
Documenting the business journey for marketing and personal reflection.
Creating a strong professional network for support and community.
Showing one's face and personality to connect with customers and build a personal brand.
The benefits of using a .store domain for small businesses, including discounts on e-commerce tools.
The importance of delegating tasks such as packing orders to free up time for business growth.
Working with agencies for tasks like handling brand sponsorship emails.
The value of storytelling in branding and how it can make a business more relatable.
The regret of not documenting the early stages of the business for marketing purposes.
The recommendation to engage with the small business community on social media for mutual support.
Transcripts
hi friends welcome back to my Channel
today we're going to talk about 10
things that I would do differently if I
had to restart my small business in 2024
I wrote up a big long list last night
and I think a lot of these are very very
valuable so I hope you stay tuned for
context I run a handmade art business
selling my cute polymer clay creations
and I started this back in 2020 when I
was still in graphic design school
because I had a background in graphic
design I already had a lot of knowledge
in marketing and storytelling so that
really really helped me tell my small
business however I was still a college
student living with my parents and I had
to learn everything by myself
business-wise so a lot of these tips
have to do with the logistic side of
running a small business that I think
other artists and other designers just
don't have the knowledge of yet so if I
were to make a new business in 2024 with
the knowledge I have now here are the
things I would do differently number one
would be investing back into my business
early on I personally come from a family
where we prefer to do everything
ourselves like all the the construction
all the housework was done by my parents
and I think a lot of other people can
relate to this and there is Merit in
doing everything by hand all by yourself
sometimes that's just how you have to
start because you don't have any money
rolling in yet but once you do start
making sales from your business invest
that money back into your business in
the form of better equipment better
supplies eventually far down the road
you'll want to invest in employees and
these are all things that I just didn't
do for the first year or two years of
running my business a really easy
example of this is when I bought my
first label printer a label printer is
about $100 depending on what brand or
where you get it but I was so reluctant
to spend $100 that I instead printed out
every shipping label on my own printer
had my boyfriend cut them all out and
tape them onto each package and that
easily took up hours of her time cutting
shipping labels and taping them onto
packages when I could have been using
that valuable time elsewhere to make
more sales for my business it honestly
took me way too long to realize how
valuable my time was how valuable my
energy is so in summary instead of doing
everything by hand once you have some
sales rolling in use that money to
invest in more equipment start
Outsourcing your materials such as
prints and stickers it will save you so
much time and when you feel like you're
able to invest in people helping you out
as well and this brings me to my second
point which is to ask for help and build
a team as soon as you can you most
likely won't have the money to employ
someone early on but there were so many
nights where I was just crying because I
was so stressed I was too prideful to
ask my family members my partner and my
friends to help me out now 4 years later
I realized that I've been surrounded by
a community all along I was just forcing
myself to do everything by myself and it
wasn't a good use of my energy or time
as well if you have a really independent
mindset like I did I wish someone had
told me yes you can do everything
yourself but over time your business
will not grow and it won't be
sustainable eventually you will burn out
and you will lose weeks or even possibly
months or years to burn out because you
didn't ask for help owning a small
business is not just one big thing it
consists of thousands of tiny little
tasks that you can delegate to other
people for example this year in 20124
I'm delegating more of the packing
orders to my friend I'm paying her an
hourly wage so that she can pack my
orders and that frees up literal hours
in my day so I can focus on other things
or just save my energy so that I can
keep creating in the long run you can
also grow your team in other ways for
example you can find someone to handle
all your emails for you I personally
work with an agency that handles all of
my bra brand sponsorship emails so they
can negotiate deals on their end and I
can just focus on running my business
the next thing I would do differently in
2024 is to sell directly through my own
website instead of a Marketplace if
you've watched my other videos before
you know that in 2020 I originally
started my business through Etsy Etsy
and other marketplaces are a good place
to start because they handle everything
for you but just for me personally I
would just skip the marketplaces all
together I think having your own website
from the get-go is well worth the
learning curve because if you really
think about about it you're still
investing your time learning how to use
these marketplaces you're still taking
photos of all your products you're still
making captions and listings and
learning pricing and shipping all of
that hard work that you're putting onto
your storefront for Etsy or another
Marketplace you're eventually going to
have to transfer that all to your own
website and to me that was just a lot of
hassle that I would rather skip there is
a caveat to this if you want to spend
less time marketing yourself and you
want the marketplace to advertise for
you then Etsy is a way to go but if you
are spending time marketing yourself
through social media like Instagram or
Tik Tok or YouTube which you most likely
are then you yourself are pulling in all
of your customers so you should have
your own website to avoid paying fees to
marketplaces because why pay them an
advertising fee when you are the one
bringing in most of your customers it's
just something to think about when
you're making your own website the other
thing you have to think about is your
domain a domain is basically the
www.com or.net it's the name of your
website and it is the first impression
that customers get of your store after I
switched over from Etsy I actually had
the hardest time figuring out a website
name I ended up with uncomfy co.com and
that is another thing that I would have
done differently this year in 2024
instead of getting aom domain I would
get a store domain and why do you know
store is the sponsor of this video if we
follow by example Rihanna sells through
Rihanna store Mr Beast also swapped out
his for a DOT store domain and even
Michelle Obama sells through a DOT store
domain as well I know I'm geeking out
but dot store domains actually help you
sell more a deta study showed that dot
stores attract 87% more visitors you
also get double the visibility on Google
and if you run ads on your store then a
DOT store domain saves you 12% per
conversion when you're first starting
your small business cash is tight and
Dot store understands that so when you
opt for a DOT store domain you're
unlocking access to exclusive discounts
worth up to $2,500 of essential
e-commerce tools these are discounts for
major platforms like Wix for building
your website ship station for
streamlined shipping fista print for
killer marketing materials mail chimp
for email marketing and way more do
store is also available through multiple
Site Builders such as GoDaddy Shopify
Wix Etc I'm so excited for this
partnership because I've literally been
waiting for the day for my website
domain to expire and it's expiring this
month March 17th so officially my
website name is now called uncomfy do
store and if you'd like to get a do
store domain for your small business as
well for a limited time you can get it
for just 99 for the first year visit g.
store use the code uncom at checkout and
you're all set and thank you do store
for sponsoring this video on to the next
point the next thing I would do
differently is to learn financial
planning as soon as I could meaning as
soon as I recognize that this business
is something that I could do for the
Long Haul I would open a business
checking account right away to keep my
personal expenses separate from my
business expenses and then if I was able
to I would get a business credit card as
soon as I could this is one of my huge
regrets is that I didn't get a business
credit card guys I just did my taxes I
spent well over $30,000 in business
expenses this year and I didn't get a
single credit card point for that like
imagine all of the flights I could have
gone for for free if I had been using a
credit card for all of my business
expenses obviously a business credit
card really depends on your credit score
and how comfortable you are with using
lines of credit but the main things I
would highly highly recommend to people
is to learn how to track your expenses
early on find a system that works for
you whether that's an app like
QuickBooks or writing in your notes app
and putting that into an Excel sheet at
the end of every single day or just
analog like writing everything down our
paper keeping receipts find a way that
works for you because it will kick you
in the butt come tax season if you
didn't keep track of anything the next
thing is a little controversial but I
would learn how to embrace technology
mainly I would learn how to use AI
especially in 20124 there's no shame in
using AI to help you with your small
business obviously I don't stand by
using AI to make art for you but I use
grammarly AI to help me write my emails
and I use chat gbt to help me generate a
list of content ideas for when my brain
is feeling a little foggy and this
relates back to how time is money your
energy is valuable there's no shame in
using AI to help the day go faster I
know AI is scary but also AI is not
going anywhere so you might as well use
it to your advantage like I said earlier
it's great for drafting emails and it's
great for a starting point for Content
ideas this year in 2024 digital
presentence is as important as ever so I
would still put a lot of effort into
social media but I would go about it a
different way instead of curating the
most aesthetic photos the most
professional photos I would delegate all
of my energy into making reals or Tik
toks like short form videos because that
is the most effective way to get your
business out there no one actually cares
about how professional your Instagram
looks in fact the more curated it looks
the more boring it is in a sea of other
small businesses your personality is the
only thing that is going to stand out
amongst all of these other people so I
would definitely Focus Less on being
professional and more on being myself
have fun with it make whatever you want
don't focus on Trends and yeah number
eight on my list is sort of related as
well which is that I regret not
documenting literally everything when I
first started my small business back in
2020 my priority was marketing my radish
Spirits I have a lot of photo shoots of
these little things that I created but I
barely have any pictures of myself
making them I barely have any footage of
myself or my Studio when I first started
in 2020 and I just wish I had more
things to look back on to see how far
I've come your small business Journey
can be one of the most valuable assets
of your marketing strategy so being able
to pull photos screenshots of your first
website your first product launch is so
so useful and I highly recommend
documenting as much as you can the other
thing I regret not doing more of back
when I first started was I didn't spend
enough energy creating a strong
Professional Network for support and
community on social media it's very very
easy to just Silo yourself just post
things and not engage with other people
because you're just there to post your
video and get out right on most days I
think that's very healthy to just use
social media as a tool for your business
but also there's a huge community of
small business owners that you can reach
out to become friends with ask each
other questions help each other out
these are all immensely valuable parts
of having a community that I just felt
like I was missing for the first couple
years of my small business because I
simply didn't put the energy into
talking to people now I can probably say
that I have tons of small business
friends I've even met a couple of them
in person now and it makes this whole
thing being self-employed so much easier
because you know that there are other
people doing the same thing as you and
they deal with the same struggles okay
we're finally on to the last point of
the day which is that I would show my
face and my personality as soon as I was
comfortable in front of the camera I
recommend showing the face behind your
business when I think of the most
successful small businesses I think of
grumpy kid Studio I think of the
sugar-free chamoy girl on Tik Tok I
think of Emma Chamberlain what these
people have in common is that they put a
face behind their brand they put
themselves and their stories out there
so that people could connect to them
with sugar-free chimoy it's not just a
condiment now it is a loving project
that a daughter created for her diabetic
father this is also called story
branding and when you add a story with a
face people will naturally
gravitate all right I think that is it
for today thank you so much for watching
this video and supporting my small
business if you want a DOT store domain
go to get dot store and start your small
business Journey with me see you next
week resty r on her shoulder I was
cleaning her
shoe when it clicked on the TR over in
the Bright Morning
Dew we brush and we braided
dandes
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