Growing a small business
Discussion
Hi all, I'm a long term lurker and regularly read the business section for inspiration etc - its always useful so first of all, thank you!
I started a small business two years ago in the retail sector, starting on facebook marketplace (great place to test an idea) and then progressing to selling through eBay and Etsy mainly. We are acheiving 50-70 sales per week which is a good place to be for a small sideline project around my other commitments. For the time being I won't state what it is we are selling, as it is fairly niche with limited competitors.
So far I have been running it out of 2x shipping containers to keep overheads low, and doing all the processing, shipping etc myself. I have a website, a good presence with hundreds of positive feedbacks on both eBay and Etsy, and a small social media presence. I am just in the process of having a shop added to the website, and I have recently tested sending some items to a couple of social media influencers - both of which went well and lead to sales, so I intend to carry on doing this.
I am just about to take on a small unit, which will allow me to grow in time - as well as offer a small showroom - I occasionally have customers visit to choose items of different sizes, designs etc.
Its going well, but I would like to keep growing it, so I am hoping the PH collective can help me. What am I missing? What are the basics you have put in place to help your business grow? I am open to all ideas and suggestions, even the basics which I might have missed! Thanks in advance
I started a small business two years ago in the retail sector, starting on facebook marketplace (great place to test an idea) and then progressing to selling through eBay and Etsy mainly. We are acheiving 50-70 sales per week which is a good place to be for a small sideline project around my other commitments. For the time being I won't state what it is we are selling, as it is fairly niche with limited competitors.
So far I have been running it out of 2x shipping containers to keep overheads low, and doing all the processing, shipping etc myself. I have a website, a good presence with hundreds of positive feedbacks on both eBay and Etsy, and a small social media presence. I am just in the process of having a shop added to the website, and I have recently tested sending some items to a couple of social media influencers - both of which went well and lead to sales, so I intend to carry on doing this.
I am just about to take on a small unit, which will allow me to grow in time - as well as offer a small showroom - I occasionally have customers visit to choose items of different sizes, designs etc.
Its going well, but I would like to keep growing it, so I am hoping the PH collective can help me. What am I missing? What are the basics you have put in place to help your business grow? I am open to all ideas and suggestions, even the basics which I might have missed! Thanks in advance
Theres some fantastic replies so far, thank you to everyone who took the time to post. Its been a busy month with half term and moving into the new unit. This required more work than I first thought but its now set up and almost ready to go.
Amazon is definitely a platform to expand onto and I've set aside some time next week to get it started.
The idea of employing somebody to do the 'mundane' tasks is something I had thought I would like to do, I'm not quite there to make it work just yet but I think I will be within in the next few months. I know its one of those leaps to take and will be worth it in the long run.
I have a few ideas for expanding the product line, I didn't have the space for this before now but will be trialling a few items soon.
Any other ideas always welcome!
Amazon is definitely a platform to expand onto and I've set aside some time next week to get it started.
The idea of employing somebody to do the 'mundane' tasks is something I had thought I would like to do, I'm not quite there to make it work just yet but I think I will be within in the next few months. I know its one of those leaps to take and will be worth it in the long run.
I have a few ideas for expanding the product line, I didn't have the space for this before now but will be trialling a few items soon.
Any other ideas always welcome!
I thought some might be interested in an update..
I took on someone towards the end of last year, they work 1 day a week at the moment on a fairly flexible basis and its working well - I've trained him to do certain things so he can just get on. He's productive in the limited time he's there and doesn't need overseeing so it works well and allows me to crack on with other aspects.
The website shop is live and orders are coming in - www.thewineboxmerchant.co.uk - if anyone is interested. We are selling well, and the current stock advertised doesn't reflect the true number of items we regularly have available, some items are popular and sell out quickly.
The supply of stock is niche and limited, so I have worked a bit on this area in the past month and secured another supplier recently. Its not quite as simple as ordering a container from china or going to a wholesaler, so I'm enjoying the challenge.
Amazon is still on the horizon but I'm not sure its the right route for this business for a number of reasons - we'll see!
I took on someone towards the end of last year, they work 1 day a week at the moment on a fairly flexible basis and its working well - I've trained him to do certain things so he can just get on. He's productive in the limited time he's there and doesn't need overseeing so it works well and allows me to crack on with other aspects.
The website shop is live and orders are coming in - www.thewineboxmerchant.co.uk - if anyone is interested. We are selling well, and the current stock advertised doesn't reflect the true number of items we regularly have available, some items are popular and sell out quickly.
The supply of stock is niche and limited, so I have worked a bit on this area in the past month and secured another supplier recently. Its not quite as simple as ordering a container from china or going to a wholesaler, so I'm enjoying the challenge.
Amazon is still on the horizon but I'm not sure its the right route for this business for a number of reasons - we'll see!
Oh and units sold and turnover doubled YoY at recent end of financial year. Profit not quite as high but I've put this down to investing into the business for the longer term.
We've also signed up to a very successful Christmas market nearby for this year - it has a large footfall and does a great job of supporting and promoting local businesses so I'm hoping that will help promote us locally and push us to do a bit more marketing etc.
We've also signed up to a very successful Christmas market nearby for this year - it has a large footfall and does a great job of supporting and promoting local businesses so I'm hoping that will help promote us locally and push us to do a bit more marketing etc.
Digga said:
Gear thread. Congratulations to OP for getting the business this far. I think it is a nice business idea with decent potential to be sustainable.
Making money relies on not messing around with wrongly shipped, lost or damaged goods. For the time being, having that total control over the picking, packaging and dispatch is essential. Not sure outsourcing is always the answer or cheap.
DS Liverpool’s idea of employing one or more workers on flexible (ish) hours is good. Whoever you employ, ensure they are a good fit.
FWIW I watched this when it came out last month and thought it well worth a watch for anyone who employs people:
Thanks for your input - I have heard James Timpson on some podcasts and find his insight interesting. I’ve always taken a view of ‘if you look after your staff they will look after you’ - and it’s served me well in various previous jobs and endeavours. It’s not hard to be nice, slightly flexible or open to ideas.Making money relies on not messing around with wrongly shipped, lost or damaged goods. For the time being, having that total control over the picking, packaging and dispatch is essential. Not sure outsourcing is always the answer or cheap.
DS Liverpool’s idea of employing one or more workers on flexible (ish) hours is good. Whoever you employ, ensure they are a good fit.
FWIW I watched this when it came out last month and thought it well worth a watch for anyone who employs people:
Your points on having control of picking and packing is very true - we often have requests for certain aged boxes or particular types of wine - so it’s unlikely we will ever be able to outsource this. These requests often open a conversation with a customer and result in repeat business as well. I’ve found the hard way with eBay recently with regards to stock control - one blip over in a weekend saw my seller level drop below standard resulting in 120 sales one month dropping to almost 0 the following month. I think I’ve solved that problem now but it was tough lesson to learn!
MattsCar said:
He is selling wine...a few posts back.
Question about hiring someone for just one day a week, is that not a lot of effort in terms of admin and pension for relatively little labour input? Or am I missing something?
They are self employed and invoice me for their work. It works well for both of us at the moment but that may change as/if the business grows. It allows for flexibility without commitment on both sides. Question about hiring someone for just one day a week, is that not a lot of effort in terms of admin and pension for relatively little labour input? Or am I missing something?
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