A Few Things I’ve Learned
When I started my business, I was pretty clueless. I didn’t have a plan. I didn’t have capital. I just had a love for paper and a laser printer. I remember walking with one of my first clients (my next door neighbor) through an art supply store to pick out paper, envelopes, and square brads for her wedding invitations. Now over five years later, in a different business, I have a few lessons under my belt.
I’ll share some with you–not because I want to show you how much I’ve learned–because I think they are some of the things that add value to what we do here at The Innovation Companies.
1. Resources matter. I’ve come a long way since the days of art supply store tours with my clients. Constantly having new, fresh, unique materials at my finger tips makes me a more innovative designer and it saves my clients time and money.
2. Being part of a community makes us better designers. In the beginning, I never met other professionals working with my clients. I didn’t know their florist or coordinator. I just knew the client. Now, when a client comes to me, more often than not, I know her photographer, venue, and linen company well. Having connections with other professionals helps me to know the style and aesthetic of the event. My relationships with these creative professionals spur me on to create more innovative and interesting pieces for my clients.
3. “Starting” a business is easy. Lots of people start invitation and design firms every year. What makes us different is us. We’ve been through bumps and problems. We know that square envelopes need extra postage. We know that invitations should have “correct” wording unless our clients intentionally choose an alternative. We know that if you want white text on dark paper, you’ve got to use foil. You should be glad you can hire us now that I know how to make sure all of the invitations don’t fall apart in the mail (that was a bad day for me and my second bride).
4. Profit isn’t bad. I made $0 on my first project (and lost money on a few after that). That kind of margin isn’t sustainable. We base our pricing on the costs of materials, printing, and the time it takes to create a project. While some of my clients may wish that I still only broke even on each job, I wouldn’t be around today if that were the case. Don’t get me wrong. We’re not swimming in excess cash around here. A healthy business needs profitability to stay afloat for the long haul. In an industry where businesses have an average lifespan of about 3-5 years, we’re excited that next year will be our tenth.
Thanks for sticking with us and supporting us as we’ve learned these lessons. We know there are many more ahead of us.
What lessons have you learned lately? How are you better than you were five years ago?
Uncategorized | admin October 2, 2009
