10 Things I’d Do Differently If I Started My Small Business in 2024

Summary

In 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

00:00

🚀 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.

05:00

🛒 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.

10:00

💼 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.

Keywords

💡Small Business

A small business refers to an independently owned and operated business that is not dominant in its field. In the context of the video, the creator discusses their personal experience running a handmade art business, which is a small business venture. The video's theme revolves around the lessons learned from operating such a business and the strategies that could be applied if starting over in 2024.

💡Investing Back

Investing back into a business means reinvesting profits or earnings back into the business to support its growth and development. The video emphasizes the importance of this practice, suggesting that the creator would have invested in better equipment, supplies, and potentially employees earlier on if they were to restart their business.

💡Label Printer

A label printer is a device used to print labels, often for shipping purposes. The video mentions the reluctance to spend money on a label printer initially, opting instead for a manual process, which consumed significant time that could have been better utilized for business growth.

💡Asking for Help

Asking for help in the context of the video refers to seeking assistance from others, such as family, friends, or partners, to alleviate stress and share the workload. The creator reflects on their initial pride in doing everything independently and how it hindered the business's growth and their personal well-being.

💡Building a Team

Building a team involves assembling a group of individuals to work together towards the success of a business. The video suggests that the creator would have sought to build a team sooner if starting their business again, highlighting the importance of delegating tasks to others to create a sustainable business model.

💡Marketplace

A marketplace, in the context of e-commerce, refers to a platform where multiple sellers can list their products for sale. The video mentions Etsy as an example of a marketplace where the creator initially started their business. However, the creator advises that selling directly through one's own website could be a better approach in the future.

💡Domain

A domain is the address of a website, such as www.example.com, which serves as the online identity of a business. The video discusses the importance of choosing the right domain and mentions the creator's decision to switch from an unconventional domain to a .store domain, which is perceived to be more effective for e-commerce.

💡Financial Planning

Financial planning in a business context involves managing and organizing financial decisions to meet long-term goals. The video emphasizes the importance of opening a business checking account and considering a business credit card for tracking expenses and potentially earning rewards.

💡AI (Artificial Intelligence)

AI, or artificial intelligence, refers to the simulation of human intelligence in machines that can perform tasks like learning and problem-solving. The video suggests embracing AI for tasks such as writing emails or generating content ideas, illustrating how technology can be leveraged to enhance efficiency in a small business.

💡Social Media

Social media platforms are used for sharing content, ideas, and experiences. The video discusses the importance of social media marketing for small businesses, with a particular focus on creating short-form videos for platforms like Instagram and TikTok to engage with audiences and showcase the business's personality.

💡Documentation

Documentation in a business context refers to the act of recording and preserving information, often for future reference or analysis. The video expresses regret over not documenting the early stages of the business more thoroughly, such as capturing the process of creating products and the evolution of the business over time.

💡Professional Network

A professional network consists of individuals who share common career interests or goals and can provide support, advice, and opportunities. The video mentions the importance of building such a network for small business owners to connect with others in similar situations, fostering a sense of community and mutual assistance.

💡Story Branding

Story branding is a marketing strategy that involves sharing the story behind a brand to create an emotional connection with customers. The video suggests that successful small businesses often have a personal story or face associated with them, which helps to humanize the brand and make it more relatable.

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

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