For Those of You Who Are Still Considering Starting a Home-based Business

I'm really happy about my decision to join a group called African Cultural Vendors. This is a network of African-descendant artisans. ACV is a venue and resource for artisans and craftspeople to network, offer feedback on shows, recommend shows or suppliers, anything an artisan needs.

The list began in 2007 as a central resource for artisans and craftspeople to locate festivals and events to exhibit their products. Unable to find a online resource designed for African-American artisans, the Yahoo group was created to assist vendors in locating conferences, fairs, festivals, and other events for their products. Although focused primarily for African American artisans and events, the list is all inclusive. All crafters are welcome. Currently, events are listed at the Yahoo group African Cultural Vendors. Please subscribe to the list at AfricanCulturalVendors-subscribe@yahoogroups.com Please be advised that all requests for membership require approval.

The following list was compiled by a fellow member of ACV. I couldn't have said these things any better or clearer than Sha has and instead of re-inventing the wheel, I decided to share her ideas with the readers of my blog. In addition to reading the info below, please visit her site for more tips on becoming a successful entrepreneur. Check back soon as I will post my responses to her tips. I will use her ideas as a checklist for my progressive journey as a successful businesswoman in 2011.

5 Important Do Not’s for Entrepreneurs 2011 Success. By ShaChena Gibbs

Do not start a business for the wrong reason.

Most people start a business just because it sounds good or because the potential financial benefits look good. Start a business that you love. Something you are passionate about. Your business should be your baby, a talent or skill you already process.

Do not form a business without your Tribe.

Begin to let your friends and family know about your new business. Attend networking events and speak up. Give away your product for testimonies. You must build a following before you begin to profit.

Do not skip out on your legal provider.

Starting a business consist of a lot of paper work like forms and documents. The documents need to be reviewed by a lawyer. Even your products and services. Consumers can really be rude and sue you for various reasons. Having your legal team can help you to avoid these problems before they become reality.

Do not do it all by yourself.

At the beginning it can be a bit tough getting friends and family to understand what you are doing and have them believe in your passion. However, we suggest you find at least 2 friends to assist you, even if it’s just with making phone calls, running errands, checking emails, and/or packing and shipping. Entrepreneurs tend to get burnt out during the first 5 years of building on their dream.

Do not forget about ‘CUSTOMER SERVICE’.

Your customers are the core of your business growth. Without them, you will not make no money. You might as well close your doors. Poor customer service can ruin you. Word of mouth marketing spreads faster than any email you can send out and it’s most effective. One poor comment about your company service can spread like cancer. Train your staff paid and /or volunteer to treat your customers like royalty. And remember to practice what you preach.

Keep Rising,

ShaChena Gibbs
Small Business Educator
Real Sisters Rising, LLC
http://www.realsistersrising.com/

For over 10 years, Real Sisters Rising, LLC founder and CEO ShaChena Gibbs has owned or managed small businesses. Expert in her field, Ms. Gibbs personally and professionally guide her clients/members to reach higher heights to achieve major success in their business endeavors. ShaChena Gibbs is passionate about helping women globally become outstanding role models now for our youth later. Ms. Gibbs is definitely “Helping Women find the Diamond in their Destiny". She has been featured in the Daily News and many other publications.

Hobby or Home-based Business? A Profitable Decision.

Many professional crafters started their businesses after being urged by friends and family. It took me many years of entering and exiting the craft market to realize that I needed to wholeheartedly become a craft professional. I, in fact, never knew that Etsy existed until the creative force behind Mamanyah Creates and Natty Rootz Wear  (both on Etsy) introduced us. Affirmations and encouragement is important to all of us no matter what task we decide to take on. I treasure important people in my life who sincerely praise and appreciate my skill. Yet, to proceed at becoming a professional crafter interested in making a serious profit, I had to understand the difference between "hobby" and "business". A lot of this stuff, the necessaries, I've learned along the way. Which means I'm still figuring out quite a bit, myself. If you're not naturally a risk-taker like myself, you might cringe at some of my horror stories. Tales of how I jumped head first into my idea of starting a company. Lots of lessons learned, but lots of money and time wasted along the way. I should get a tattoo that says "Just do it" because that's how I take on many new tasks.

Anyone who believes that just because they have a passion for their craft or collectible that that will substitute for real business skills is in for a rude awakening; a very quick one at that!  A knitter who opens a shop stocked with only their favorite brand of yarn and needles is taking on a risky, or perhaps, bad idea. While enthusiasm for your interest is important and perhaps the biggest aspect of all, it really takes business skills to turn a hobby into a profitable endeavor. I challenge you to ask yourself whether you could turn your hobby into a profitable opportunity.

Can you set aside your personal preferences in order to observe trends and money-makers objectively? I actually started out that way. My love for African/Ethnic prints quickly put me in a box. Truth is, a lot of people who say they love the fabric and the culture are rarely buying items constructed from the material. Instead, I turned that interest in the textiles into a supply store: ladyfingahs.etsy.com. And if someone sees something on kamelishae.etsy.com that they want constructed of afro-prints, they just need to choose a fabric from the other site without being charged an extra fee. Before making any crucial moves, you have to honestly ask yourself whether you're willing to take time to learn business essentials. What are they? The list could vary depending on your industry, but for starters: basic book-keeping, permits/licenses, customer service, product info and the biggy... the IRS/tax filing.

Why continue giving away your creations when you can sell them? Go into business! Unlock that potential and turn your skills into cash. In closing, answer the following questions to help further define your status as a craft hobbyist or craft professional:

• Have you researched your potential market?
• Can your business make a profit?
• Can you formulate an efficient book-keeping system? Paypal has some really good apps to help with this.
• How will you keep track of your shop's inventory?
• Can you afford the necessary licenses and/or permits?
• Can you afford to advertise or promote your company and/or product?
• Will you file the proper tax forms to show deductions?
• Can you form a relationship with vendors and wholesalers? Do you know who they are? If not, do you know how to find them?
• Can you afford studio space or an office in or outside your home?
• How much time can you devote to your business every week, day, month?
• How will you brand your company? Do you have a logo, mission statement, letterhead, business cards, etc.?
• Can you attend (whether vending or just attending) craft fairs, bazaars, trade shows, etc.?
• What is your backup plan... for any of the above questions that were answered negatively ?

 This could be you!