Femme Preferences

[JenniRose]

Hi,

I am a long time CD, short time member of this forum.

I am been working with, and for, the man for more years than I would like to remember. Last week I was told that my services (with this company for twenty-three years) would no longer be need as of the 15th of August.

Due to my age (59) I have been told, by most, that I can forget getting a new job. After putting out a large number of resumes and not even getting confirmation that they have been received, I am looking to go out on my own (in more ways than one!)

I am thinking about starting my own business, which is scary, but at the same time peaceful.

I am great at creating and embroidering custom work, but the market is limited. (I do have one "client" that has all her lingerie embroidered with her initials and a butterfly!)

I have been creating custom (photo-quality) mousepads and totes for a while.

I am a very good sewer, but not quite up to seamstress quality....yet.

These are the things I enjoy.

I have been working in corporate training, and while good at that, do not see it as my future.

I am asking for suggestions from my sisters out there on what they might consider.

Thanks in advance.

JenniRose

[Marlena Dahlstrom]

Sorry to hear about your coming layoff. We might be able to offer some better advice if we knew a little more about your life plans, specifically when you were planning on retiring. If you're planning on retiring at 65, you might want to put up with something you're less than thrilled about if it's something that's an easy move to make.

Being an entrepreneur does mean hustling. There are two types of business: hunting and fishing. Hunting means you track down customers (for example, consulting). Fishing is you set up shop and hope customers come to you (for example, running a restaurant or dry cleaners). It's good to figure out which kind of business you're more comfortble with.

It doesn't sound like you're that thrilled with corporate training, but that might be good as a way to generate short-term income. You're skilled at it, and I imagine you've got contacts you can leverage.

Longer-term you might consider growing your custom-items business. I know someone who specializes in custom embroidery (albeit machine-done). One of his niches is that he can do small jobs that are below the minimum amounts for silk-screening -- plus embroidery looks classier.

Your profile doesn't say where you are, so it's hard to get a sense what the local market is like. But that's the great thing about the Internet, you can put up a small site and hit a national or international market. You might also try piggy-backing on businesses that offer similar, but not identical services. For example, if there's a silk screen shop (or a women's wear store), see if they've had any requests for embroidery.

If you're in the States, the Small Business Administration has local centers to help entrepreneurs who can give you lots of good advice. One important thing is to keep your costs to minimum (instead of buying stuff, can you beg or borrow it for awhile until you grow). Another is to get feedback from customers early and often, so you know what there's a market for. I know people who've ended up in businesses they didn't anticipate being in because that's where the market led them.

The other critical thing to do -- which most people don't -- is create a business plan. It doesn't have to be that formal unless you're trying to get funding (which is really difficult for most small businesses anyway, since banks only like to make loans to companies that are already making money.) But it forces you to think through the hard questions ahead of time, i.e. what am I offering, who's going to buy it, why would they want to buy it, how am I going to make money selling it, how much do I need to turn a profit, where will it sell, how will customers find out about what I'm selling, what happens if something good/bad happens, etc. Doing so will save you a lot of heartache.

Good luck!

[Wenda]

All of what Darla says, especially, don't spend money at first, because startups often spend money on the wrong things. Think about what you are really adept at and what you enjoy. I am 57 and just started as a marketing manager for an entertainment company, so don't write yourself off just because of age. Read about Col Saunders.
The business plan is important. Set targets for yourself monthly, weekly daily. "Build it and they will come" is a huge frickin' lie. Build it, market it relentlessly, provide exceptional quality, follow up and provide downstream service, and they will come, until someone does something cheaper, faster, nicer, etc.
Be prepared to work 10, 12 hour days, 6 or 7 days a week when you are starting up.
Starting your own business is very challenging. When you get it right, it is almost as good as sex. good luck. wenda.