I 24F am starting a business in the clothing industry. I have absolutely NO support and I don’t know what I’m doing. I need help! The guy working in my website is WAITING ON ME for the photos but I keep second guessing myself because I don’t know how to do this. Because he’s waiting on me I it’s causing me anxiety galore. Ever since I’ve attempted starting my husband has been telling me not to do it and it has destroyed my self esteem Im in the need of more money and my husband has it but won’t allow me to have it. I have enough to pay the guy and start listing. But I don’t know what looks professional. I just need someone in my family to give me their time! Maybe some faith too. Does anyone have suggestions on what my next step is??
Personal thoughts is this just sounds like a classic example of how businesses fail. No idea how long it takes to profit, no revenue and your only source of funds is a reluctant husband who made it clear he doesn’t support the idea in the first place.
Its completely fine to play around as long as you have funds to burn but everyday that your business isn’t making a profit, you are losing money.
My advice is pause for now before you are too deep in, get your mental state in control, get your funds ready before you jump in for another try.
Exactly, and don’t let this ruin your relationship with your husband. He’s your partner, not a bank.
How does one begin to assess how long it will take to profit especially when you are in the business of making sales? 🤔
It really depend on your business and how well you understand it. My advice is start small and scale up. You can’t go wrong starting small and when you start getting sales you can estimate your profits.
Find your “break even” would be my first move.
#1 How much does it cost you to produce 1 unit of whatever your product is?
#2 How much you can sell that product for on the open market?
#3 How much you can project to make on selling 1 unit?
#4 How many units you will have to sell every month to cover all overhead costs?
#5 Do you have the money to produce the amount of units you need to profit?
#6 How many months can you last assuming ZERO unit sales?
Answer these questions first and then worry about content, websites, and buying actual inventory. Plan your business first and by that I mean literally sit down and write out on the computer what your business plan is. If you don’t have the answers do research and ask questions. You can 100% do this if you believe in yourself, focus, and take it seriously.