A good business for bad times...

[Dien Rice]

Hi Eric,

All I can say here is... Ben Suarez was a computer programmer, and started out by trying to sell a book of computerized tables to help people calculate compound interest. (This was before pocket calculators were widely available...)

It was a huge flop...

Then he started working with Gary Halbert, and they started selling computerized astrological horoscopes...

It was his first success...

The bottom line is... you can only succeed when you give the market what it really wants... That's the undeniable fact about business...

Thanks for sharing, Eric!

Best wishes,

Dien

Originally Posted by EricC

Hi Dien,

Been a while since I have been to SOWPub. Looks like I am missing the fun stuff. Right now I am in the middle of a course in Astrological Magic. Basically learning to make talismans using astrology techniques from the Renaissance.

Then after that I will get up to speed on horary astrology for asking specific questions and getting specific answers with astrology. Finding solid financial astrology resources is tricky but another interesting area to explore, too. The people using it successfully don't appear to talk much publicly.

Figured it would be a good little side business for the touristy community we are moving to in the near future as well as online. I see a very long period of uncertainty and severely eroding faith in trusted institutions ahead. These kinds of services appear to be all the more interesting to people in such times.

Strap on your woo belt. The ride ahead is gonna be weird for a lot of folks.

Eric

[Deuxter]

Business uncertainty refers to situations in which businesses face risks that can’t be foreseen or measured. During these times, it may be hard for businesses to predict their performance due to unprecedented or constantly changing events. Changes in the political, technological, economic, and environmental landscape — such as technological advances, data breaches, natural disasters, or new business regulations — can cause business uncertainty. For example, due to unforeseen upheavals in the economy and industries created by COVID-19, 2020 was a particularly tough year for firms to manage.
Though pandemics are rare, businesses, particularly startups, have always had to deal with unpredictability. Even when the economy is stable, startups face financial instability since they have yet to define their business model.
I was going to start my business but not I am not sure whether it is proper time. Especially with continuing war in Ukraine...

[GordonJ]

The proper time to start a business is right after you have fleshed out the market, KNOW there is a demand, and have a plan to get to those people who want what you offer.

Uncertainty, becomes a reason for procrastination, an unnecessary one.

Does your business idea have a ready to buy market?
Do you have a plan to intersect with them?
Do you have a promotion ready?

Yes to the above, it is a good time to start your business.

Gordon

Originally Posted by Deuxter

Business uncertainty refers to situations in which businesses face risks that can’t be foreseen or measured. During these times, it may be hard for businesses to predict their performance due to unprecedented or constantly changing events. Changes in the political, technological, economic, and environmental landscape — such as technological advances, data breaches, natural disasters, or new business regulations — can cause business uncertainty. For example, due to unforeseen upheavals in the economy and industries created by COVID-19, 2020 was a particularly tough year for firms to manage.
Though pandemics are rare, businesses, particularly startups, have always had to deal with unpredictability. Even when the economy is stable, startups face financial instability since they have yet to define their business model.
I was going to start my business but not I am not sure whether it is proper time. Especially with continuing war in Ukraine...

[Dien Rice]

Hi Deuxter,

Many very successful businesses were started during "bad times"...

One of the benefits of "bad times" is... you have less competition! Then, when more competition does jump in, you have a big head start!

If you seach online for businesses that were started during economic downturns... You'll find some surprisingly big names... Like IBM, FedEx, AirBnB, and others...

Best wishes,

Dien

Originally Posted by Deuxter

Business uncertainty refers to situations in which businesses face risks that can’t be foreseen or measured. During these times, it may be hard for businesses to predict their performance due to unprecedented or constantly changing events. Changes in the political, technological, economic, and environmental landscape — such as technological advances, data breaches, natural disasters, or new business regulations — can cause business uncertainty. For example, due to unforeseen upheavals in the economy and industries created by COVID-19, 2020 was a particularly tough year for firms to manage.
Though pandemics are rare, businesses, particularly startups, have always had to deal with unpredictability. Even when the economy is stable, startups face financial instability since they have yet to define their business model.
I was going to start my business but not I am not sure whether it is proper time. Especially with continuing war in Ukraine...

[Deuxter]

Thank you for support! I almost decided that in spite of everything - I am ready to run my own company. I was learning the market for some period and I have few ideas how to have success right after start. First steps I should make - registration of LLC - I find out that nowadays I can make that online without wasting any of precious time. Also I have already found a good place for my small shop in Missouri. And me and my wife have a brand name and logo.

[Deuxter]

My wife is producing homemade jams, confiture, marmalade, pastille, natural butter and we are going to spread her assortment and for all this we need a place we she can work and sell her goods. So the first our step was business research and business plan, then we found the real estate and now we register an LLC here https://bestllcservices.co/start-an-llc-in-missouri/. It took few minutes and after few days everything is ready. Now we are thinking over the final design for our shop. If you visit Rocheport, MO - you are welcome to visit our place which will be opened in few weeks I hope.

[GordonJ]

Almost had to take a shot of insulin just thinking about all those yummy goodies.

It looks like you are in a great location for this. I won't presume to know your business, but some of the most successful boutiques, especially food also have:

Classes. Hands on instruction.
Books/Recipes, or even short booklets.
And of course, they send their goods via Mail/USPS/FedEX.
YouTube videos.

IF the region has a specialty, or if she makes a different type of jam or confiture ( I like HOT Pomengranate)...or some different marketing methods, be sure to feature those too.

Good luck in this venture, it sounds exciting, and let us know how it turns out.

Gordon

Originally Posted by Deuxter

My wife is producing homemade jams, confiture, marmalade, pastille, natural butter and we are going to spread her assortment and for all this we need a place we she can work and sell her goods. So the first our step was business research and business plan, then we found the real estate and now we register an LLC here https://bestllcservices.co/start-an-llc-in-missouri/. It took few minutes and after few days everything is ready. Now we are thinking over the final design for our shop. If you visit Rocheport, MO - you are welcome to visit our place which will be opened in few weeks I hope.

[Deuxter]

Originally Posted by GordonJ

Almost had to take a shot of insulin just thinking about all those yummy goodies.

It looks like you are in a great location for this. I won't presume to know your business, but some of the most successful boutiques, especially food also have:

Classes. Hands on instruction.
Books/Recipes, or even short booklets.
And of course, they send their goods via Mail/USPS/FedEX.
YouTube videos.

IF the region has a specialty, or if she makes a different type of jam or confiture ( I like HOT Pomengranate)...or some different marketing methods, be sure to feature those too.

Good luck in this venture, it sounds exciting, and let us know how it turns out.

Gordon

Thanks for support, Gordon! Unfortunately pomegranate is not what we produce as we make our goods from what we grow by ourselves and we don't have pomegranate tree at our garden, though we tried to cultivate it. We have apple, pear, appricot, peach and plum trees. Also I am thinking about trying to grow grapes and making a wine.

[GordonJ]

who's not ready, holler I.

Jay and The Techniques.

We had apple, pear and peach trees in my yard as a kid, my mom could create a zillion things from just what we grew, toss in Rhubarb and Cherries from across the street, and yummy to my tummy.

And the big 5 make nice liqueurs too, as my Granny used to do back in the holller, that is when she ran out of moonshine, HA!

My aunt made a killer fruitcake, I think about 200% alcohol, started it in June and my Thanksgiving, it was ready to be mixed and baked, the best (and only ) fruitcake I ever enjoyed eating.

I think you'll do just fine, use all of your marketing skills to promote and have fun.

I love this business idea.

Gordon

Originally Posted by Deuxter

Thanks for support, Gordon! Unfortunately pomegranate is not what we produce as we make our goods from what we grow by ourselves and we don't have pomegranate tree at our garden, though we tried to cultivate it. We have apple, pear, appricot, peach and plum trees. Also I am thinking about trying to grow grapes and making a wine.