Whew time is really flying. I can’t believe that the last time I wrote on this topic was 5 months ago. I have learned soooo much and feel like I continue to learn each day. The good news is, I’m not ready to give up yet. They say 20% of new businesses fail within the first year. So to know I’m 4 months away from being in business a year, and still not wanting to quit, is pretty good. Some new lessons I’ve learned are to make wiser purchasing decisions. There were a couple things that I purchased and either ended up not liking it or regretting it because I’d spent more than what I should have. When running a business, you really have to be strategic with how you budget the funds – especially when you’re like mine and still working to break even. I am working on following a better system to help stretch the funds so that on the slower sales months, I can still make the basic necessity purchases (i.e. the website subscription, more fragrance oil, etc.) The next major lesson I’ve learned is that it’s okay to research the competition, but don’t dwell on the competition. I take notes on what seems to be going well or pain points that others may have and that’s it. I try not to get wrapped up in the fact that they have more customers, more of a social media presence, and things of that nature. Finally, I learned to take advantage of the slow times. When sales aren’t where I’d like them to be, I’m using that time to either rest, research new scents, or increase my inventory for when the sales do pick up. This is extremely important because you just never know when things can turn around. Take today for example. I hadn’t made a sale in 20 days, but then I get featured in D Magazine’s ‘18 Dallas Candle Companies Share Their Bestselling Scents’, and boom, I got more sales. This was a huge eye opener for me. I knew it was coming, but I was still holding my breath. I will say, it’s nice when your hard work starts to pay off. For me, this is only the beginning. I can proudly say most of my time has been spent releasing new scents. Since March, I’ve launched the Calm, Cool, & Collected collection, On Vacay, No Bounds, & the Everyday Luxury line. Outside of reading that article, part of what keeps me going is receiving all of the customer photos. Being able to see our candles in someone else’s home brings about a feeling like no other. I also love when I get to see how much our candles are used for self-care. It wasn’t until I started this business that I began shifting my thinking of candles. I used to think they were just a luxury, but when you begin to use them for self-care which allows you to take care of your mind, body, and soul in order to reset – that’s not JUST a luxury – that’s a need being met. All in all, I’m thankful and truly blessed that God is allowing me to maneuver and steward over this business. I hope to continue to make you guys proud. Thank you for all the love & support.
Tierra Gerdine, Mompreneur and friend passionate about entrepreneurship and sharing her story.