8 Years, 8 Lessons
Today Vintage Green is celebrating eight years of business! I’ve learned so much about small business in the past eight years…I thought I would share my top eight:
NEVER use the sales tax you have collected. It’s not yours, and the government will want their money. To assist with this I pay my sales tax every month vs quarterly (easier to pay monthly vs quarterly).
Have six months of funding for an emergency. This took me about two years to build up, and I never touch that money. To gather the funds I deposited extra cash or checks…until I had that money.
Get to know your neighbors. When you are a small business owner you need resources, and support, from others who understand. Plus they become great friends!
Get involved with the bigger network of businesses in your community. I’ve received so much support and help from other business owners.
Really understand how much it costs to run your business. I count every expense for my store, and continually track percentages, sales, inventory and set goals for better. And be sure and pay yourself!
When you are able to hire team members…make sure they have an understanding, passion about your business. My team needs to love vintage to make a great team member (in addition to all the fabulous other characteristics needed) :)
Stay true to what your business/you are. It’s so tempting to do things differently, change your model, follow what other businesses are doing….but I’ve learned to adjust, move and asses, while staying true to what I wanted. I opened an authentic vintage store, and that’s what I will stay.
Have fun! Owning your own business is a lot of work, don’t let it become a job. Seek the fun!
If you are thinking of opening your own small business let me know! And best wishes chasing your dream <3
