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Three years ago, I started a business with one other guy (Dan). He was awesome. It was awesome. It was hard.
But I loved it.
I don't do it anymore, but I learned some things I won't soon forget... (a thread
)
But I loved it.
I don't do it anymore, but I learned some things I won't soon forget... (a thread
)
To start, what was the business?
Basically, we made awesome hats, shoes & journals.
We used this cool art form called marbling to do it.
Our business name --> Marble Heads
Basically, we made awesome hats, shoes & journals.
We used this cool art form called marbling to do it.
Our business name --> Marble Heads
Here's what I learned:
1/ Starting a business is hard work.
There's this cool idea. We thought, how hard could this be? It's awesome. People will buy.
We went to a farmers markets early on. Thought we'd sell 150 hats in 3 hours.
We sold 3 hats in 3 hours.
That was tough
1/ Starting a business is hard work.
There's this cool idea. We thought, how hard could this be? It's awesome. People will buy.
We went to a farmers markets early on. Thought we'd sell 150 hats in 3 hours.
We sold 3 hats in 3 hours.
That was tough
2/ You spend ample time on things not anticipated.
I spent upwards of 25 hours researching and buying various hats & testing different types of paints with those hats.
Had to find a hat that:
⢠looked good
⢠was comfortable
⢠and absorbed the paint well
Yeah, no fun.
I spent upwards of 25 hours researching and buying various hats & testing different types of paints with those hats.
Had to find a hat that:
⢠looked good
⢠was comfortable
⢠and absorbed the paint well
Yeah, no fun.
3/ Test & Iterate â Constantly
At first, our hats weren't that good. They were different, so people liked them. But I knew we could do better.
All the while selling, we tested & iterated until one day, Dan and I looked at each other with a smile: knowing we figured it out.
At first, our hats weren't that good. They were different, so people liked them. But I knew we could do better.
All the while selling, we tested & iterated until one day, Dan and I looked at each other with a smile: knowing we figured it out.
4/ Customers don't care how, they just want a good product.
I used to think, "cmon, we spent hours making these things awesome for you, stop complaining that your hat isn't perfect."
They just wanted what they wanted, regardless of our work effort.
I used to think, "cmon, we spent hours making these things awesome for you, stop complaining that your hat isn't perfect."
They just wanted what they wanted, regardless of our work effort.
5/ Make the customer the hero.
At farmers market, people liked watching us go through the process, but they LOVED when we invited them into it.
People care about what they help create.
This kid was awesome & creative too!
At farmers market, people liked watching us go through the process, but they LOVED when we invited them into it.
People care about what they help create.
This kid was awesome & creative too!
6/ It's awesome seeing people enjoy your work.
Their faces though
(hard parts getting them to actually buy)
Their faces though
(hard parts getting them to actually buy)
7.) How to design & build a website.
Well actually, my mom pushed most of the buttons on http://wix.com . But I designed it. A great skill to learn.
I was reading the book building a @storybrand at the time, which has useful information in it on website design.
Well actually, my mom pushed most of the buttons on http://wix.com . But I designed it. A great skill to learn.
I was reading the book building a @storybrand at the time, which has useful information in it on website design.
8/ Packaging is important.
Apple does it best. iPhone & computer cases are awesome. Opening that package isn't just opening a box, it's an experience.
Whether you're selling a physical or digital product, think about how the customer will receive it. We found a cool way.
Apple does it best. iPhone & computer cases are awesome. Opening that package isn't just opening a box, it's an experience.
Whether you're selling a physical or digital product, think about how the customer will receive it. We found a cool way.
9/ Your friends will ask for free stuff. A lot.
I'm not mad about it & gave away quite a few free hats. But after doing this business, I realized:
I will always pay full price to any friends running businesses. You spend a lot of time & and make little $, especially early on.
I'm not mad about it & gave away quite a few free hats. But after doing this business, I realized:
I will always pay full price to any friends running businesses. You spend a lot of time & and make little $, especially early on.
10/ How to handle money.
We had little, but I learned a lot about money management.
I read this book called, "Profit First."
Liked the structure for how to deal with finances inside a business. Did it for a bit. If I ever run another biz. Probably will use that approach.
We had little, but I learned a lot about money management.
I read this book called, "Profit First."
Liked the structure for how to deal with finances inside a business. Did it for a bit. If I ever run another biz. Probably will use that approach.
11/ Think about scale.
The most challenging aspect of this business was scale. Or the inability to...
The creation process was tedious.
I never thought about scale early on, but I should have. The product is cool, but every hat was hand done. Takes time.
The most challenging aspect of this business was scale. Or the inability to...
The creation process was tedious.
I never thought about scale early on, but I should have. The product is cool, but every hat was hand done. Takes time.
12/ When you create something cool, be proud.
I love these two pictures. There's a story behind both & the effort it took to get this level of quality.
If we could have figured out scale on those shoes...yikes.
I love these two pictures. There's a story behind both & the effort it took to get this level of quality.
If we could have figured out scale on those shoes...yikes.
13/ It's okay to move on.
Listen, I did this business for a year. A ton of hours. Long nights. Early mornings. On top of a full time job. We profited about $4,000 over the course of that year.
Which is practically nothing for the time spent.
Listen, I did this business for a year. A ton of hours. Long nights. Early mornings. On top of a full time job. We profited about $4,000 over the course of that year.
Which is practically nothing for the time spent.
BUT,
I received a business education far greater than the one I got in college.
I had to constantly solve problems, work with others, and strive to create something cool. And I gave it everything I had for one year. Then I realized it was time to spend my time elsewhere.
I received a business education far greater than the one I got in college.
I had to constantly solve problems, work with others, and strive to create something cool. And I gave it everything I had for one year. Then I realized it was time to spend my time elsewhere.
And while It was a tough decision to make, I felt good about the entire journey I went on.
In conclusion. Learn by doing.
"It's one thing to study war & another to live the warriors life."
Love that.
Hope this served in some way!
In conclusion. Learn by doing.
"It's one thing to study war & another to live the warriors life."
Love that.
Hope this served in some way!
ps: make stuff for the babies.
Parents love to buy stuff for their babies.
Parents love to buy stuff for their babies.
