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so what's it like?? - 3 MONTHS of running MY BUSINESS - 3 lessons learned

3/4/2020

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Hey guys!

As of February 19th, I officially hit 3 months of being in business. Whew, it has been such an emotional journey so far. The word I would use to describe the first month is crazy. There was a lot of hype and support. Plus it helped that timing was on my side- Christmas was a little over a month away. Everyone was in the holiday spirit, and my candles made the perfect gift. I ended up selling out of my first collection! This didn't happen without some bumps however. I've learned quite a bit so far (probably enough to write a book) but I wanted to discuss some of the areas that I learned the most in.
  • Shipping
    • ​​I learned that this is one of the most costly business expenses all around. Ordering supplies for my business has cost me over $30 in some cases or even shipping out orders to customers can range anywhere from $8-$18. 
    • I learned that the post office is not all the same. In  some cities they gravely mishandled my candles even though the 'fragile' stamp was clearly displayed.
    • Make sure that I have enough boxes up front to ship my candles in. After about 5 shipping orders, I wasn't able to find enough of the boxes that were perfect for my candle's size.
  • Hearing Empty Promises  
    • I  learned that some are good at offering empty promises.  Sometimes if feels as though your peers can be your "worst enemies" so to speak. Some say they will support, and don't. Many will also avoid sharing your posts, but are quick to post celebrities or others whom they've never met. Thankfully, I have a handful that I can really count on when it comes to their support and sharing my business for you (you guys know who you are!) Over time, I'm learning to not get offended, and consider it a part of doing business. 
  • Lowering My Prices
    • I also learned that pricing has little to do with support. Even when prices are offered under $10 with free shipping, that did not drive sales. This in part could be due to timing also. Retail tends to be slower following Christmas months, and doesn't usually pick up until closer to tax season. However, I don't say this to discourage you from having sales. Ultimately, if you want to have a sale, have one! I haven't found any success with the two that I've had, but I will definitely launch another one as my business grows since I personally love a good sale! Just don't lower your prices in hopes of getting people to purchase from you.  
    • Set goals, but don't focus too heavily on the numbers.Continue to do what you're supposed to do, and the sales will come. Each month, I set a sales goal. Some months I've exceeded that, and some I haven't. However when I add up what my goal was for the first few months, and what I've made in sales, collectively I've only missed my goal by $378 which isn't bad. I'm just thankful that each month I've been able to make enough sales to continue to pour back into the business while helping customers enjoy their homes with my candles. 

Despite these learning areas, I am still just as passionate and excited to continue in this journey. Building a business from scratch involves a lot of trials and errors, numerous hours and money invested, doubts, fears, tears,  frustrations and more. It is definitely a marathon mentality opposed to a sprint, and being patient through it all is a struggle!

I want to encourage those of you who are wanting to start a business or are in their first few months of starting, and are looking for someone who can share in the struggles of just starting out. There will be times when it feels like no one is rooting for you. There will be times when it feels like the sales won't come in. There will be times when you have to start completely over because the product didn't come out right. Just don't give up. 

You've got this!

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About MilanMonet Luxe Co.

MilanMonet Luxe Co. is a luxury home fragrance brand that hand-pours  all-natural 100% soy candles to help enhance your mood while also making it effortless for you to incorporate self-care into your daily routine. 

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  • Home
  • Shop
    • Everyday Luxury Candles
    • Petite Luxury Candles
    • Signature Luxury Candles
    • Sale
  • MML Kids' Collection
  • SALE
    • Lipgloss Sale
    • Petites Sale
    • Signatures Sale
  • Blog
  • Wick, Pour, & Sip Luxe
  • the luxe chandlers' group
  • Empty but not forgotten