so many thoughts......
I have so many thoughts here... I'm self employed with Another Time since 1978 and always in vintage (plus more). I'm going to fight myself:USEROCKY: to keep it short here! (Great comments already spoken... and pls pardon the lack of author reference here).
"a lot of it comes down to the typical traps of being self employed"
Amen! SE people are natural risk takers and thinkers! Everthing that applies to the world of small business applies to us. Become part of the "regular business" world even it it seems like it's "not appropriate" to the size of your business. It will keep your sights up and give you ideas.
Cashflow. I don't always have lots of cash ... but I always have food to eat, clothes and a place to sleep! And abundant freedom.... That is a lifestyle I choose to live. When cash is flowing, be cautious. When cash is tight, be prepared and flexible.
"scouring the internet for magazines and places to add my link to. Marketing is key!"
Yes Yes Yes! But I am going to qualify this by agreeing with Lizzie's comment - it takes as much effort to sell $100 as $10. Why would spend hours PR'ing $10 if you can do the same for a $100 item?
One of the reasons I love Babylon Mall and VFG is because we are networking! Whether you realize it or not...your circle is growing everyday! And again.. website cross-links.
And I've just been noticing the increasing number of "Join my newsletter" links that some of our members have. I just looked at Constant Contact yesterday thanks to a VFG member's link! Oh boy..... another new level to work in!!!
"We probably won't get rich doing what we really love."
Sorry... I have to disagree with that one! The only time you can succeed is when your heart is into it! The key is to recognize when you are bumping a brick wall and learn to sidestep it. Even within your passion, you still have to read the signs!
Maggie.... 2 things that strikes me especially about you:
1) Your wonderful flair for personal fashion ads!
Where do we keep coming when we want a cute add for a special.... like upcoming Pamper Yourself Sale and the July sale?? Follow up on this and go with it - you are a natural! Couldn't this even become a "product" to sell??
2) You mentioned about sewing and your sewing machine....
After you get it fixed ... extend your talents (aka $$$) locally to restore and repair OTHERS fashions. I just wish that I could sew and am constantly looking for talented sewers to hook up with! And by the way.... I'll bet you get ooodles of vintage buying leads off that too!
All this = Diversification!
I have always kept my business diversified in very subtle ways but they all feed each other. When one is weak, guaranteed the other is stronger.
I'm working towards the goal of getting every part working at 100% All the Time!
and that will only come with the help of a friend or two...
Do I live solely on my business....no because I don't have to at this time. But it is a major contributer in our household. The money and the freedom it has given me allowed me to be a stay at home mom in the 80s AND keeps us afloat too. I am secure that I could manage ...with adjustments again.... if we had to depend soley on the business.
Last but not least.... if you are only working for money, money will always be the issue. So, measure your successes with a very broad measuring stick. And be sure you do take stock of what you accomplish and ...... pat your back occassionally!