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BUSINESS - HOME-BASED DECORATOR
Five Years and CountingThere's more to running an embroidery business than knowing embroidery. If you want your business to flourish, you need to first take stock of why you're starting the business in the first place.March 17, 2008 By Steven Batts Though I've been involved in the embroidery industry for more than 17 years now, I've only been an embroidery business shop owner for just over five years — a significant anniversary for me. Statistics show us that a high percentage of small businesses close their doors within the first five years, so by making it to the five-year mark, I have, if nothing else, beaten the odds. ![]() Looking back over the past five years to where I am now, I've tried to analyze what got me here. Hopefully, through this analysis, some other small business owner can learn from both the things I was able to accomplish as well as the mistakes I made along the way. 9-to-5 Job Security First, let’s look at why many businesses close. Notice I did not say fail. While most businesses close due to financial problems or other issues, some businesses just close because the business owner decided to sell the business or just got tired of running it. It's easy to see how that can happen. The daily pressure of not getting a paycheck unless you generate revenue, no matter how hard you work, can really wear on you. The additional pressures of paying taxes, doing paperwork and performing all the non-revenue producing jobs that a small business owner must do adds to the wear and tear. Sometimes you think it would be simpler to go back to work for someone else and let him worry about all these hassles. And indeed, there's something to be said about the security of a regular 9-to-5 job. Your hours are more clearly defined; someone else does the paperwork; and you get paid the same every day, including vacation days. In addition, the biggest advantage is that there's a clear distinction between your work life and home life. Look before You Leap Whether you're just starting or contemplating starting your own decorated apparel business, here are some of the things I advise you to consider before you take the leap. 1. Be absolutely sure this is what you want to be doing. Consider your motives for starting the business, as you will need to call those to mind during the stressful times that lie ahead. Keeping that focus will help you weather those storms. 2. Think about your goals. What do you want to accomplish from having your own business? Is it a livelihood, supplementary income, something beside material wealth or a combination? For example, I wanted to support my family while exercising more control over my schedule and the direction of my future. 3. Remember that there is really no such thing as a "regular 9-to-5 job." If there is, let me know, and I might apply for it. In reality, I used to work long hours, too, back when I had "a real job." 4. Just because you're good at something, doesn't mean you're good at running a business doing that same thing. If you're thinking of starting a business just because you're good at what you do, then don't! I was good at embroidery when I started, but that is not why I started the business. Knowing embroidery is a plus, but it doesn't help me grow my business. 5. If you want your business to flourish, you need to become good at business. I'm still working on that part. Having made it so far, I might get the business part figured out in the end. Steven Batts, a 17-year veteran of the embroidery industry, is a regular speaker at the Imprinted Sportswear Shows and contributor to Impressions magazine. He owns Righteous Threads Embroidery, a home-based business in Greensboro, N.C. The services he provides include digitizing, embroidery, machine maintenance and repair, and consulting. Call him at (336) 379-9380 or e-mail righteousthreads@gmail.com. Additional Steven Batts articles on getting started in embroidery and operating a home-based business: Five Keys to Embroidery Business Survival Looking the Part Getting the Word Out Finding Your Niche Pricing Your Work: Determining Breakeven Know Your Operating Costs The Cost of Equipping an Embroidery Business StartUp Decorator: Is Embroidery Right For You? RECENT HOME-BASED DECORATOR HEADLINES
Needle Knowledge Pays Off for Embroiderers
How to Beat the Odds in a Recession
5 Tips to Digitize Efficiently
Finding the Right Digitizing System for Your Shop
Tips for Improving Embroidery Productivity
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