STARTING A CANDLE BUSINESS IN 2024?!? 5 THINGS I WISH I KNEW SOONER

Summary

In this video, the creator shares valuable insights from a full year of entrepreneurship, offering five key tips for success. They emphasize the importance of self-discipline, financial planning, creating value beyond price, and the power of personal branding. Additionally, they discuss securing business funding and how faith in God can help overcome challenges. The video encourages entrepreneurs to stay focused, be intentional, and leverage resources like the Ultimate Sales Survival Guide to improve their business strategy and achieve their goals.

Takeaways

• 😀 Entrepreneurs must be more disciplined than those in traditional jobs because they lack external structure and fear of being fired.
• 💡 Without a 9-to-5 routine, it's easy to become lazy and distracted. Staying disciplined and focused is critical for success.
• 💪 Time management is key—focusing on productivity rather than procrastinating through activities like cleaning or redecorating can make a big difference.
• 💰 Start by understanding your financial goals, breaking down revenue targets, and building marketing strategies around them.
• 🛒 Product sales come from the value you provide, not just the price. Engaging content like process videos and well-lit packing demonstrations help drive sales.
• 🤳 Personal branding is crucial—people resonate with you as an individual, not just your logo. Show your face to build trust and connection with your audience.
• 💳 Securing business funding is essential, especially for entrepreneurs with lower credit scores. SBA loans and Shopify or Stripe funding can be great options.
• 🔑 Credit plays a big role in business funding. It's important to have a solid business plan and financial structure to succeed.
• 🙏 Faith in God and thinking beyond your limitations can help overcome challenges. Seek guidance and stay positive.
• 📘 Utilizing guides like 'The Ultimate Sales Survival Guide' can provide structured, practical steps for growing and funding your business.

Q & A

What is the main purpose of the video?

The main purpose of the video is to share the lessons the speaker has learned after one year of being an entrepreneur and provide tips to help others who are struggling with their entrepreneurial efforts.

Why does the speaker emphasize the need for discipline as an entrepreneur?

The speaker emphasizes the need for discipline because entrepreneurs don't have an external force, like a boss, to motivate them. They must be self-driven to achieve success, unlike in a 9-to-5 job where there are set schedules and the fear of being fired.

What mistake did the speaker make early in their entrepreneurial journey?

The speaker initially struggled with productivity and time management, spending too much time on personal tasks like cleaning and redecorating instead of focusing on growing the business. This led to wasted time and a lack of focus on important financial and business goals.

What is the first actionable tip the speaker offers to new entrepreneurs?

The first tip is to focus on finances and set clear revenue goals. By knowing how much revenue is needed and breaking it down into daily sales targets, entrepreneurs can create marketing strategies and sequences that align with their business goals.

How does the speaker suggest improving product sales?

The speaker suggests focusing on delivering value rather than just lowering prices. They highlight that emotional and process-based videos, which showcase the making of a product, can resonate more with customers and encourage sales.

Why does the speaker advise against using a logo as a social media profile picture?

The speaker advises against using a logo because it is less personal and doesn't build a connection with the audience. They recommend using a human face, which makes the brand more relatable and helps followers see the person behind the business.

What does the speaker say about business funding and its importance?

The speaker stresses that business funding is crucial for success. They explain that personal credit scores often impact the ability to secure business loans and recommend applying for funding after high-sales periods, like Black Friday, to improve the chances of approval.

What lesson about faith does the speaker share?

The speaker shares that faith in God is essential for overcoming challenges and growing a business. They encourage viewers to focus on the power of faith rather than getting stuck on limitations, trusting that God will provide guidance and opportunities for success.

How does the speaker recommend entrepreneurs approach marketing and social media?

The speaker recommends using engaging content, like process videos or packing orders, to attract attention on social media. They suggest that good lighting and aesthetics are important for presenting the brand in a way that resonates emotionally with potential customers.

What final advice does the speaker offer for business growth?

The speaker advises entrepreneurs to have a solid business plan that includes understanding their niche, demographic, and revenue goals. This plan can guide decisions and help them confidently seek business funding and make smarter business choices.

Outlines

00:00

🚗 Entrepreneurial Lessons from a Year of Experience

In this opening segment, the speaker introduces the video from an unconventional setting, her car, and emphasizes the value of the video for entrepreneurs who are concerned about their business success. She reflects on the need for discipline in entrepreneurship, especially compared to traditional jobs where external structures guide behavior. The absence of a boss or fear of being fired makes it harder to maintain self-discipline, as she learned after leaving her 9-to-5 job. She describes how initially, she struggled with laziness and procrastination, which she attributes to the winter season's darkness and her comfort-seeking habits. The speaker advises entrepreneurs to prioritize structuring their finances and daily activities, which helps build confidence and productivity. She stresses the importance of understanding revenue goals and creating marketing strategies, with a shout-out to her Ultimate Business Guide for more detailed advice.

05:01

💡 The Value of Product Sales Goes Beyond Discounts

The speaker dives into her second tip, emphasizing that product sales come from providing value, not just discounts. She shares her initial mistakes, relying on flash sales without seeing the desired results. Instead, she found success by creating engaging and relatable content, such as behind-the-scenes process videos, emotional storytelling, and packing orders with good lighting. She suggests that effective execution in marketing, rather than just offering lower prices, is key to driving sales. For those looking for more marketing insights, she directs viewers to her Ultimate Business Guide.

🧑‍🤝‍🧑 People Buy from People, Not Logos

Here, the speaker reveals a critical lesson she learned about personal branding: people connect more with the face behind the business than a logo. She recounts how switching her Instagram profile picture from her business logo to her own face significantly increased her follower count. By making her business more human and relatable, customers were more inclined to follow and engage with her. This personal touch fosters trust and authenticity, which she believes is crucial for growing a brand, especially for small business owners.

💳 Business Funding: The Key to Growth

In this section, the speaker discusses the importance of securing business funding to support growth. She shares her experience of initially relying on personal savings for bills, which quickly became unsustainable. She offers practical advice on obtaining business loans, even with a lower credit score, by utilizing resources like SBA.gov and properly setting up an LLC. The speaker highlights the significance of applying for funding after major sales events like Black Friday, when cash flow is higher. She mentions Shopify and Stripe as potential funding sources, noting the value of her Ultimate Sales Survival Guide for more in-depth tips on securing capital and managing business finances.

🙏 Faith in God as an Entrepreneurial Guide

The speaker wraps up her advice by stressing the importance of faith in God throughout the entrepreneurial journey. She encourages viewers to rely on faith, rather than focusing on their limitations, as a driving force for success. Drawing from personal experience, she emphasizes that trusting in God can help overcome challenges and increase revenue. She advises entrepreneurs to stop telling God about their problems and instead remind their problems about the power of God. With faith, clarity, and focus, entrepreneurs can find guidance in unexpected places, like a helpful video or social media post. She closes with a message of positivity and purpose, urging viewers to continue pursuing their business goals with determination.

Keywords

💡Entrepreneurship

Entrepreneurship refers to the act of creating, developing, and managing a business. In the video, the speaker discusses the challenges and lessons learned from her first year as an entrepreneur, particularly highlighting the need for discipline and self-motivation, which differ greatly from a traditional 9-to-5 job structure.

💡Discipline

Discipline is the ability to maintain self-control and stay focused on tasks. The speaker emphasizes that entrepreneurs need more discipline than those in traditional jobs, as they lack external motivators like fear of being fired. For her, discipline was a challenge after transitioning from a regimented 9-to-5 job, and she had to learn how to stay productive without external oversight.

💡Financial Planning

Financial planning involves setting clear revenue goals and managing finances to ensure business success. The speaker advises entrepreneurs to begin with their finances by understanding revenue goals and creating marketing strategies around sales. She shares how focusing on her finances helped her become more intentional about business growth.

💡Product Value

Product value refers to the worth of a product as perceived by customers, based on the benefits it provides, not just its price. The speaker learned that sales come from the value a product brings to customers, not just by offering discounts. She mentions the importance of creating engaging content, like process videos, to demonstrate the product's value.

💡Personal Branding

Personal branding is the practice of marketing oneself and their career as a brand. In the video, the speaker shares her realization that customers resonate more with who the entrepreneur is rather than just the product or business. By putting her face on her Instagram business profile, instead of a logo, she noticed a significant increase in followers.

💡Business Funding

Business funding is the process of securing financial resources to support a business. The speaker stresses the importance of securing funding early on, especially if using personal savings is not sustainable. She shares her experience of obtaining a business loan from the Small Business Administration (SBA) and emphasizes the need for proper business documentation and good credit.

💡Marketing Strategy

A marketing strategy is a plan that outlines how a business will promote its products or services to attract customers. The speaker highlights the importance of creating effective marketing loops and sequences, such as email campaigns and social media posts, to drive sales. She explains how this strategy should align with specific sales goals.

💡Process Videos

Process videos are visual content that shows step-by-step how a product is made or used. The speaker found that creating these types of videos, such as showing how she packs orders, helped her connect with her audience and increase sales. People enjoy seeing behind-the-scenes processes, which builds trust and interest in the product.

💡Faith in God

Faith in God, as expressed by the speaker, refers to relying on spiritual belief and trust in a higher power for guidance in business. She shares how faith has helped her overcome self-doubt and focus on the bigger picture, encouraging others to put their trust in God’s plan for their business, rather than being limited by personal fears or limitations.

💡Social Media Engagement

Social media engagement refers to the interactions between a business and its followers on platforms like Instagram. The speaker notes that showing her face on her business profile increased engagement and followers, as people are more likely to connect with a person rather than a logo. She advises entrepreneurs to leverage their personal presence to build stronger relationships with their audience.

Highlights

Entrepreneurs need more discipline than in a 9-5 job since there's no external pressure like the fear of being fired.

When transitioning from a structured 9-5 to entrepreneurship, it can be challenging to maintain focus and avoid distractions like household tasks.

To improve productivity, entrepreneurs should begin by organizing their finances and setting revenue goals.

Sales come from bringing value, not just offering discounts. Flash sales aren't effective without proper execution and creative marketing strategies.

Process videos, where the creation or packaging of a product is shown, can resonate well with audiences and boost sales.

People connect with who you are, not just your product. Showcasing your face on social media profiles can build trust and increase followers.

It's better to have a personal image as a business profile picture than a logo, unless the brand is globally recognized.

Getting business funding is crucial, and it's important to have a clear plan and proper documentation, like an LLC, to increase the chances of approval.

Lower credit scores can be a challenge for getting business funding, but resources like SBA loans and Stripe capital can help overcome that.

Apply for business funding after major sales events like Black Friday when revenue is higher, making it easier to qualify for loans.

Having faith in God and staying focused on the bigger picture can push you further than focusing on personal limitations.

Entrepreneurs often face self-doubt, but shifting focus to faith and thinking bigger can help overcome sales challenges.

God's guidance can come through various forms, such as inspirational content or advice that helps improve business strategies.

It's essential to have a comprehensive business plan that includes knowing your niche and demographic to avoid getting stuck in product choices.

The Ultimate Sales Survival Guide provides insights on getting business funding, understanding your market, and staying focused.

Transcripts

hi guys welcome back to my channel if

you're new here hey girl hey I decided

to record a video in my car which is

unorthodox for me going turn it off and

C suit out hearing Rumble Rumble tumble

it is early in the morning um but I'm

super excited to share this video with

you all today hopefully it could be of

value to someone if you're struggling

and worried about the success of your

entrepreneurial efforts I wanted to

share with you what I've learned being

an entrepreneur for full year um the

things I wish I would have known right

when I quit so I'm just going to give

you my top five tips here so the first

key point I want to touch on is the fact

that entrepreneurs have to be more

disciplined than any other career if you

have a 9 to-5 you just show up at a

certain time you leave at a certain time

you take your break at a certain time

you are automatically regimented by the

fear of being fired but when you're an

entrepreneur you're not regimented by

the fear of being fired there's no

physical person and in terms of

psychology it's important to have that

like external Force driving your

motivation and for me personally I

didn't have that in the beginning I

thought that I would just because I had

been programmed so much in my 9-5 and

then right when my 9 to5 ended I

realized that my programming ended too

so I began to just seek opportunities to

be lazy or over exercise and then get in

my car and stay cuddly I just loved

being cuddly and warm like I didn't

really want to be

um doing anything besides being like

super cuddly and warm so I was being

lazy it was really hard when I quit my

job I quit my job in the middle of uh um

the winter so it's completely dark at

night which is super challenging just as

it relates to imagine you actually

having to uh be productive but then it's

pitch black dark at 5:00 p.m. like that

is the hardest thing for me personally

so I found myself just going to the gym

and then coming home and eating maybe

doing a YouTube video or cleaning up my

house that was another thing I kept

doing like when you stop working you

begin to obsess over your surroundings

and when you obsessed over your

surroundings you waste time so time was

not of the essence I was literally

taking too much time putting it into

actually being intentional about like

I'm so sore I just left the gym but I

was being intentional about cleaning my

house re redecorating my house instead

of restructuring my finances so I would

definitely say begin with your finances

and look at the big picture and it'll

help you get more confident in your own

output if you know what your Revenue

goals are and then you can pinpoint the

number of sales you need to make per day

and then you could start to create

certain marketing Loops or marketing

sequences around that uh in terms of

your outbound emailing in terms of your

social media post which I talked a lot

about in the ultimate business guide I

put that link in the description of this

video too just so you guys can use it

okay um number two I'm looking at my

notes uh product sales come from

bringing value and not just the price so

this something I had to learn the hard

way um I really wanted to keep doing

flash sale flash sale before midnight

get $10 off or get 50% off and the

product sales will not speed up unless

your execution is more effective you

know you have to do funny videos do

emotional videos or for me what really

help this is like the tea if you do

process videos of like step by step

people really resonate with that like

they love it when you show them how you

make the product and they're more likely

to buy it packing and order is good if

you have good lighting if your

lighting's trash don't pack a order if

you got that good lighting yeah pack a

order and if you got good Aesthetics

pack order but if you don't then I would

say pack the order from a distance like

this is hard to explain on camera but

you have your tripod right put your

tripod far away from you and stand up

and pack an order and and then you speed

up the video and write words on the

screen screen that are like emotional

you know Vibes like that okay number

three people resonate with who you are

and not just your product so I had to

learn this so hard like it took me a

year only a month ago is when I realized

this like I had my brand logo as my

business profile on Instagram and it

never occurred to me until I was

watching other people like memory box

candle Co and

Kare um it's just a couple large brands

that I I've inspired by they have their

humanistic their physical face in the

profile picture and I'm like that is

such a better idea than to put your logo

because your logo is like who knows that

logo is unless your logo is a check mark

a Nike or a gym shark do nobody know

that logo um so put your face that way

people are like oh this is the person

who owns the business not like if you're

trying to get people to think you're

pretty or anything but just like you're

the person in charge you know that's

something I really wish I would have

done long ago um just because it has

helped me get way more followers

tremendously like I used to get like one

follower day I get like 10 followers

today and I know that's not a lot yet

but it's still better I think people

increase uh the chances of following me

cuz they know I'm a person and it's not

just a bot cuz if it's just a logo there

it's like why would you follow a logo

it's kind of weird you know okay number

four business funding is the only way

that this will go well I found out that

right when I started I had my own

savings account but I was using my

savings for my bills so I had to figure

out a way to get business funding and

just with business funding if you have a

lower credit score like I had a lower

credit score because I don't know

student loans just everything on my

credit report um but I had to figure out

a way to go to sba.gov and get a

business loan and you have to have a

proper business template you have to

have all of your LLC stuff in order and

I put all the steps in the ultimate Sal

Survival Guide um I talk about pretty

much everything in this video plus how I

got business funding with lower credit

because that's something that's really

hard for us and you don't really realize

how important it is to have good credit

credit how important it is to have

personal credit like it seems like

everything about your business they want

to know about your personal credit and

I'm just like what and then I would

definitely recommend people applying for

business funding after Black Friday cuz

that's when you have the most sales like

I just got more Shopify funding um I'm

working on my strip funding if you

didn't know stripe is a payment

processing centor that you could add to

your Shopify and if they take the

payments and you get a certain amount of

money they'll see it and they'll give

you Capital so I definitely recommend

checking out the Ultimate Sales survivor

guide there's even more details about

that in there and last but certainly not

least guys uh faith in God will get you

so much further than evidence of your

seeking evidence of your own limitations

like we always look at ourselves like oh

well I couldn't do that that's too big

that's too big that's too big you have

to have faith in God God you don't tell

I always tell people this now you don't

tell God about your problems you tell

your problems about God so if you have a

problem with making sales my God is way

bigger than this like I all I have to do

is think bigger and operate bigger and

I'll get everything I want out of these

sales like you do not Define me this

entire experience is not defined me God

defines me all I have to do is seek his

guidance and I will expand on my revenue

and sometime God will show you something

like a a YouTube video from someone like

me or they'll show you a social media

post on how to make things a bit more

effective you just have to be more

intentional as it relates to your focus

and I hope this video was helpful guys

I'm in the middle of public um but I

wanted to sh I don't know I really

wanted film outside and not in my house

cuz I don't know the quality of lighting

but comment down below if you found

these tips useful in terms of your

entrepreneur efforts if you've already

gotten a business guide let me know how

it's been going for you I get a lot of

DMS about them and I want to really help

you all as much as possible and then if

you haven't gotten one yet I would

definitely recommend The Ultimate Sales

Survival Guide to start just because

with your business you do need to get

business funding but once you get approv

for business funding that plan that you

put together you can actually implement

it more confidently than just going at

it random like I've seen people say I

get stuck with choosing vessels and jars

you know for candle businesses and it's

like you don't have to get stuck with

the products if you know your Niche you

know your demographic and everything

else in your business plan which is in

the ebook and I hope you all enjoy the

rest of your day your week your next

hour just living your purpose and love

life okay bye